CLOSED | $107 MILLION MULTIFAMILY DEVELOPMENT | JV EQUITY
February 7, 2023
The Carlton Group’s CEO Michael Campbell, Director Paul Wolfson and Vice President Giuseppe Riggi announced that they have successfully closed sourcing equity on behalf of Larson Capital Management (“LCM”) for the development of The Fitz, a $57 million Class ‘A’ 234-unit multifamily project in Glendale, AZ. The equity capital was sourced from a West Coast investor.
The Fitz represents the second closing by Carlton for the same sponsor and investor. Earlier in 2022 Carlton raised equity for LCM’s $50 million 240-unit multifamily project in Surprise, AZ.
“Finding a programmatic investor to close two transactions in a challenging capital markets environment was a win for everybody,” said Campbell “and we look forward to continue working on future projects with them.”
About The Carlton Group
Founded in 1991, The Carlton Group is an international real estate investment banking firm that specializes in arranging JV Equity partnerships and executing large, complex, often multi-tranche equity and debt transactions for large development and trophy assets. The firm has offices throughout the United States and Europe and has closed in excess of $160 Billion of transactions throughout the United States, Europe, Caribbean, Mexico and South America. For more information, visit www.CarltonGroup.com.