Construction Money Flowing At Carlton – Over $2 Billion Of Closed And Committed Construction Loans

May 2, 2017

Contrary to what you may be reading, there is a ton of construction and development debt and equity available for quality projects and good operators.

As outlined below, we have either closed or have in hard application more than $2 billion of ground-up condo, mixed-use and transitional operating assets.  Furthermore, in addition to providing non-recourse balance sheet construction financing we also arrange multi-tranche JV and pref equity capital to provide our clients with the best possible capitalization.

A brief summary of recently closed and/or under hard contract transactions are as follows:

–        $650 Million Closed Midtown Manhattan Construction Loan – On behalf of one of New York’s top developers, we recently closed a $650 million ground-up, mixed-use condominium transaction.

–        $280 Million Committed Ground-Up Construction Loan – On behalf of one of Brooklyn’s top developers, we will be shortly closing a $280 million ground-up luxury condominium project in Brooklyn.

–        $500 Million Closed Mezzanine Loan Secured by a Chelsea Mixed-Use Condominium Project – On behalf of one of New York’s top developers, we closed a large mezzanine loan to facilitate the development of this ground-up condo mixed-use project in Manhattan.

–        $250 Million Ground-Up Multi-Family Construction Development – On behalf of a mid-tier developer, this $250 million construction loan is committed and will be closing within the next 30 days.

–        $175 Million of Acquisition and Redevelopment Financing for Two Caribbean Projects – We continue to provide our clients who are acquiring and/or redeveloping Caribbean development and transitional assets with off-market overseas capital.  We currently have two transactions in hard application to facilitate the acquisition and development of two major projects.

–        $300 Million Financial District Condominium Luxury Tower – We have a committed loan to facilitate the development of a 60-story luxury high-rise in the New York’s Financial District.

–        $31 Million Leasehold Acquisition and Pre-Development Loan – We recently closed a short-term ground lease secured by a boutique operating hotel which will be totally repositioned inclusive of a significant renovation program.

The foregoing is just a summary of certain of the construction and development deals which we have in contract and encourage you to the undersigned so we can arrange a great debt and equity capital stack for your next important development transaction.




Howard L. Michaels

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