Business booming at Carlton Group.The Carlton Group continues to successfully arrange complex condominium transactions on behalf of developers across the nation. The company has either closed or acted as the exclusive advisor for over $l billion of condo projects over the past 12 months.
Carlton possesses extraordinary overseas and domestic debt and equity capital relationships and is often capable of arranging 90% to 95% of the capital required for condo projects. This unique ability has produced an abundance of business for the company, as Carlton has recently been retained as exclusive advisor for over $1 billion of new condominium transactions.
Recent exclusives assigned to Carlton include: $250 Million Equity & Debt Financing--Ground-up Condominium/Hotel Development-Downtown Manhattan--Mr. Michaels is arranging approximately $250 million of joint venture equity and debt financing Debt Financing
When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay for the ground-up development of a fully approved 40-story condominium project located in the Tribeca section of Downtown Manhattan;
$200 Million Floating Rate Financing--Condominium Conversion--Downtown Manhattan--Mr. Michaels and Carlton's Neil Bane BANE. This word was formerly used to signify a malefactor. Bract. 1. 2, t. 8, c. 1. are in the process of arranging approximately $200 million of floating rate financing for the condo conversion Generally stated, a condo conversion is a process of entitling an income property or other lands currently held under one title to convert from sole ownership of the entire property (which often already is a multi unit property) into individual for sale units. of a Class A luxury residential apartment tower located in Downtown Manhattan.
Michaels also announced that his company is continuing its record set ting ting
A single light metallic sound, as of a small bell.
intr.v. tinged , ting·ing, tings
To give forth a light metallic sound. pace for 2005 and has closed over $1 billion of transactions in the month of June.
Some of the noteworthy transactions that Carlton closed in the month of June include:
$115 Million Equity & Debt Recapitalization-Manhattan Apartments-Carlton's Ruth Barone has arranged the $115 million recapitalization for a prime Upper West Side complex consisting of two 14-story elevator apartment buildings totaling over 400 apartment units, a two-story commercial store, and an indoor parking garage for approximately 150 cars.
$580 Million Morgan Hotel Financing--Mr. Michaels arranged $580 million in senior and mezzanine debt on a portfolio of five hotel assets including the Hudson, Royalton and Morgans in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , the Delano in Miami Beach Miami Beach, city (1990 pop. 92,639), Dade co., SE Fla., on an island between Biscayne Bay and the Atlantic Ocean; inc. 1915. It is connected to Miami by four causeways. and the Mondrian in West Hollywood West Hollywood
A community of southern California northeast of Beverly Hills. It is mainly residential. Population: 36,600. . The properties are some of the most fashionable, popular and profitable hotel assets in the country and total 1,516 keys;
$28 Million Bridge Loan--Ground-up Condominium Development In Midtown Manhattan Carlton's Brendan Sullivan and Charles Kerecz arranged an initial six-month bridge loan facility for $28 million in connection with their client's purchase of 105-107 West 57th Street and the property's transferable air rights;
$72 Million Joint Venture Equity & Debt Financing--Two Prime Great Neck Office Buildings--Mr. Michaels arranged $72 million of joint venture equity, acquisition and advisory financing for 600 Community Drive and 111 East Shore Road, two prime office buildings located in Great Neck, New York Great Neck is a village in Nassau County, New York, in the U.S., on the North Shore of Long Island. As of the United States 2000 Census, the village population was 9,538.
The Village of Great Neck is in the Town of North Hempstead. . The properties total over 300,000 square feet and are both 100% occupied by single tenants;
$26 Million Construction Financing--Ground-up Condominium Development In Manhattan--Mr. Fenster arranged a $26 million construction loan for the ground-up development of a luxury condominium located in the Upper East Side of Manhattan on 985 Park Avenue. The client intends to construct a 15-story, 25-foot-wide, 16,000-foot sliver building that will consist of one triplex triplex /tri·plex/ (tri´pleks) triple or threefold.
triple or threefold. unit and six duplex units.