CARLTON LAUNCHES INVESTMENT MANAGEMENT ADVISORY GROUP TO ASSIST OVERSEAS BUYERS AND LIMITED AND MINORITY PARTNERS TO ACQUIRE AND DISPOSE OF ASSETS
July 19, 2011
Carlton Chairman, Howard L. Michaels has announced the launch of its Investment Management Group to be headed by Sybil Ellis, former Co-head and EVP of Real Estate Investments for Sam Zell at Equity Office Properties. Ms. Ellis is one of the top real estate professionals in the country, having completed over $15 billion in acquisitions and dispositions during her tenure at Equity Office Properties.
Ms. Ellis also has a significant professional team at her disposal, including Sandy Deets a former SVP at Equity Office and Mr. Ed Lee, formerly a senior associate at Northwestern Mutual. Ms. Deets was formerly Head of Due Diligence and Valuation at Reunion Partners and Mr. Lee was formerly an Investment Manager at Hearthstone and Portfolio Analyst with Vornado Realty (Merchandise Mart Division).
Ms. Ellis and her team will draw on the over the 50 professionals that work at Carlton, both domestically and abroad to provide the highest possible client service, which will include representing limited and minority partners and other non controlling shareholders to provide highly sophisticated valuation and tactical advisory investment advice for either acquisitions or advice when a buy sell provision is triggered.
The Investment Management Division will provide an array of services which are outlined below.
- Reverse Inquiry Acquisitions– This is where clients engage Carlton on an exclusive basis to locate particular asset type or generally represent a buyer who is interested in acquiring assets in the United States. This would be a targeted representation where we would assess, identify, and diligence and locate asset types both on a direct basis and from brokers who exclusively control product that our clients are interested in.
- Valuation/Underwriting– We can provide the highest level of sophisticated valuation and underwriting so investors, particularly those located overseas, are certain to be investing at a basis which makes sense given current valuation metric.
- Creative Deal Structuring– Combined with Carlton’s expertise we have completed close to $100 billion in transactions and have either originated and or structured virtually every type of structure available which will assist our clients on receiving the best possible terms.
- Tactical Advisory for Partner Buyouts or Disputes – As indicated, Ms. Ellis has negotiated over $15 billion of acquisitions and dispositions for Equity Office Properties, arguably the number one real estate investor in the U.S over the last 20 years (as evidenced by their $40 billion cash out of the EOP Portfolio to Blackstone). We can provide you with the absolute best team of expert negotiators to representing you with partner buy-outs, contract negotiations or lease and management agreement negotiations.
- Recommendation of and coordination with – The most appropriate service providers for a particular asset. In other words, Carlton can coordinate the entire legal, engineering, marketing and tax structuring advice for your acquisition, recapitalization or disposition.
The focus will be on sourcing and originating off-market acquisitions, joint ventures, dispositions, as well as recapitalizations of assets and commercial loan restructuring for investors who require highly specialized due diligence, valuation, structuring and complex negotiation services. Carlton has just opened a Chicago office as part of an effort to expand the investment bank’s reach.
Carlton Chairman, Howard L. Michaels announced, “We are truly excited to have Sybil join our firm and bring her background and expertise to an important new strategic effort for the Carlton Group. Sybil is, without a doubt, an industry heavyweight with over twenty-seven years of deal-making experience in the commercial real estate industry and has a network of business relationships she established and maintained for almost three decades. She played a key role in the formation and growth of Equity Office which was sold to the Blackstone Group in 2007 for $39 billion. Most recently, Sybil has acted as an investment consultant for financial institutions as well as for domestic and international investors.”
Sandy Deets joined Carlton as Vice President of the Investment Management Division. From 1986 to 2007, she held progressive positions at Equity Office or one of its predecessor companies. Prior to the sale of Equity Office to Blackstone, Sandy led the Due Diligence, Portfolio Analysis, Forecasting and Planning teams. She oversaw all underwriting and due diligence activities related to all transactions and underwrote over $50 billion in acquisition, disposition and merger transactions. Following her career with EOP, Ms. Deets was Vice President – Asset Management at Commonwealth Realty Advisors.
Carlton Advisory Services, Inc. is an international real estate investment banking firm with offices throughout the United States and London. The firm specializes in providing commercial loan restructuring and recapitalization services. In addition, Carlton is one of the world’s leading intermediaries in providing equity and debt capital and executing commercial and residential loan sales. The firm specializes in arranging passive promotable equity for individual real estate transactions and for programmatic equity ventures for qualified sponsors. The company also owns and provides accelerated loan sale services through the Carlton Exchange. Carlton was founded in 1991, and has consummated well in excess of $70 billion in transactions.
The Investment Management Division is located at the Civic Opera Building, 20 North Wacker Drive, Suite 1006, Chicago, IL 60606. For inquiries, please contact Sybil Ellis at sellis@carltongroup.local (312)629-4571 or Sandy Deets at sdeets@carltongroup.local (312)629-4572.
