Carlton Closes Over $4 Billion Of Nov & Dec Transactions

January 26, 2014

Carlton Chairman Howard L. Michaels has announced the closing of over $4 billion of highly structured equity, debt and investment sale transactions throughout the United States and Europe in November and December. Overall Carlton raised $6 billion for 2013 transactions.

Carlton executes a unique strategy in that it specializes in representing large property owners organizing highly complex, often high leveraged, multi tranched capital stacks in order to generate attractive equity and debt capitalizations for its clients acquisitions.

Carlton has offices throughout the United States and Europe which gives Carlton tremendous access to investors located throughout the world. Carlton specializes in providing equity and debt financing for all asset types and is also one of the top hospitality advisors in the world having just closed over $2 billion of hospitality transactions in the last 60 days.

Carlton specializes in providing the following services:

Stretch Senior Positions – This is where Carlton provides high leverage first mortgage debt positions on any type of asset, but especially on land and development transactions.

Arranges Large Amounts Of Passive Promotable Equity – Carlton typically arranges 90-95% of the equity capital needed to facilitate client transactions.

Investment Sales – Carlton has completed billions of dollars of investment sales and equity recapitalizations, whereby Carlton accesses investors to either acquire the asset directly or up to a 95% interest.

Specialty With Large, Time Sensitive Transactions – Over the last 20 years, Carlton has raised well over $100 billion of capital and has a stated expertise in organizing capital for large complicated, often time-sensitive transactions and has frequently lined up capital on big deals virtually overnight.

Providing Capital For Large Development Deals – We have recently arranged over $3 billion of acquisition, construction and development financing for some of the top development transactions in the United States, including 701 Seventh Avenue, The Park Lane Hotel, the conversion of the Chatsworth Building, 737 Park Avenue and many other similar large development and/or conversion projects.

Below please find a summary of certain transactions completed by Carlton in 2013.

  • Park Lane Hotel On Central Park South–  We arranged a $525 million structured finance for the acquisition of the Helmsley Park Lane Hotel in Manhattan.
  • $725 Million Debt & Equity Manhattan Conversion Finance Placement – Carlton arranged equity and debt capital to facilitate arguably the largest apartment portfolio acquisition in Manhattan in 2013.
  • $205 Million Tribeca Conversion Acquisition And Recapitalization – Carlton arranged the sale and joint venture on one of Tribeca’s top conversion candidates.
  • $815 Million Construction Loan And Refinancing Of A Major Manhattan, Times Square Development Loan – Carlton arranged a multi tranched $815 million construction and mezzanine loan to facilitate the construction of one of Manhattans most valuable retail, signage, and hospitality properties in the heart of Times Square.
  •  Miami Hotel/Condo Deal – Carlton arranged an approximate $90 million multi tranched capital stack, which facilitated the acquisition and predevelopment of an existing 227 key hotel plus two adjacent parcels, which in the aggregate consist of 188,000 square feet.
  •  Shore Club, South Beach Miami – Carlton arranged the confidential controlling interest sale and recapitalization of the Shore Club, one of South Beaches’ most notable ocean front hospitality assets.
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