Billion dollar year for Carlton Hospitality.

Since the announcement by Chairman, Howard L. Michaels of the formation of Carlton's Hospitality Group in the 1st quarter of 2004, the group has closed in excess of $2 billion dollars plus.

John Bralower (co-founder of Sonnenblick-Goldman's and Houlihan Lokey's hospitality groups), Brendan Sullivan (former president of InterBank Brenner) and Kenneth Herzberg, Carlton's executives have more than 50 years of combined experience in the hospitality and lodging sectors.

Their relationships with major capital sources, hospitality operators and hotel owners are key to their ability to review new assignments and advise their clients as to the best strategy for their particular project.

This has earned Carlton the distinction of being able to execute transactions in a timely and efficient manner.

Carlton forecasts that the demand for existing hotel assets, conversion opportunities and development of new brands will remain strong. Inflows of capital into the market demonstrate investor belief that strong operating fundamentals will continue into the foreseeable future. With the condo hotel concept now recognized as a valuable option to most conversion and development opportunities, Carlton has achieved a reputation for helping their clients capitalize on this trend and maximize their cash flows.

Carlton has become the go to source in the industry by successfully completing major assignments to obtain financing and provide hospitality advisory services on hotel developments in the United States, Mexico and the Caribbean. Here are a few of Carlton's transactions:

$580 Million Hotel Refinancing--Morgans Hotel Portfolio. Carlton arranged $580 million of floating rate debt on a portfolio of five hotel assets owned by the Morgans Hotel Group. These properties are some of the most fashionable and profitable in the hospitality industry.

$72 Million Acquisition Loan--SOHO Condominium Hotel. Carlton arranged $72 million in acquisition financing for a 351,000 square foot condominium hotel located in the heart of the fashionable SOHO district in New York.

$200 Million Hotel Fund. Carlton as exclusive advisor is in the process of raising $200 million for a hotel fund that will acquire and develop hotels throughout the United States. The total capitalization is anticipated to be $730 million and will seek to target minimum IRR's in excess of 20%.

$88 Million Refinancing and Predevelopment Loan--AtlanticA. Carlton has been retained on an exclusive basis to secure capital and provide hospitality advisory services for the development of an upscale resort in the Dominican Republic: The resort will contain seven villages located on 2,200 acres along the Northeastern Dominica Coast and include hotels, homes, a mega yacht marina, a private airstrip and a shopping village.

$60 Million Hotel Refinancing. One of only seven hotels located within Downtown Disney, Carlton is seeking $60 million to refinance and reposition this 626-Key Resort.

The Carlton Group is an international real estate and loan sale investment bank prominent in debt and equity placement, commercial and residential loan sales, and investment sales.

Founded in 1991, Carlton has consummated in excess of $25 billion of equity, debt and secondary market loan sale transactions since 1998 and approximately $7 billion this year.

Carlton has significant relationships with some of the largest developers and financial institutions in the world and with many "off-the-radar" overseas investors, including institutions and high net worth individuals.