CARLTON RAISES MORE THAN $2 BILLIONAT 20 TIMES SQUARE AND 1568 BROADWAY IN TIMES SQUARE, NEW YORK
May 4, 2015
Recent completed transactions include the following:
- 1568 Broadway (a/k/a Doubletree Hotel in Times Square) – As the exclusive advisor to Maefield Development and its institutional investment partner, we facilitated the acquisition and development of this $2 billion hotel, retail, LED signage and entertainment property in the heart of Times Square.
- $2 Billion JV Equity and Acquisition and construction loan and JV equity at 20 Times Square (Formerly 701 Seventh Avenue) – This was a marquee transaction for Carlton whereby the firm arranged an equity joint venture between one of the top institutional investors in the world and a highly successful entrepreneurial group. In addition, Carlton brought in Marriott and Ian Schrager to do a 42-story Edition Hotel in conjunction with 76K square feet of prime retail and a 18K sf LED sign which will be the biggest LED sign in the world. Initially, Carlton arranged $500 Million of acquisition capital and recently arranged $815 Million of construction and mezzanine financing.
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