Carlton closes $400m plus in equity and debt deals.Carlton Advisory Services' Chairman Howard L. Michaels announced that his company has closed over $400 million of new equity and debt transactions within the past couple of months. "Carlton has an excellent reputation for often obtaining north of 90% of project capitalization at significantly favorable terms for its clients and this has translated into an abundance of new business for the company," noted Mr. Michaels. Outlined below are some of the recent transactions closed by Carlton: * $83 Million of Acquisition Financing --Class-A Buffalo Office Tower--Mr. Michaels and Carlton executive Michael J. Campbell arranged and closed an $83 million fixed rate first mortgage loan for their client's acquisition of One HSBC Center One HSBC Center is a skyscraper located in downtown Buffalo, New York. Formerly known as the Marine Midland Center, its name was changed when Marine Midland's parent company HSBC rebranded the bank as HSBC Bank USA. , a Class A 1.2-million-square-foot enclosed office tower located in Buffalo, 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 . * $36.5 Million of Mezzanine Financing Mezzanine Financing A hybrid of debt and equity financing. Mezzanine financing is typically used to finance the expansion of existing companies, and it is basically debt capital that gives the lender the rights to convert to an ownership or equity interest in the company if the --Premiere Manhattan Office Asset--Mr. Michaels and Mr. Campbell arranged and closed $36.5 million of mezzanine financing for a 1.1-million-square-foot, 41-story, Class A office tower located across from the South Street Seaport The South Street Seaport is a historic area in the New York City borough of Manhattan, located where Fulton Street meets the East River, and adjacent to the Financial District. The Seaport is usually considered a historical district, distinct from the neighboring Financial District. at the foot of the Brooklyn Bridge Brooklyn Bridge, vehicular suspension bridge, New York City, southernmost of the bridges across the East River, between lower Manhattan and Brooklyn; built 1869–83. The achievement of J. A. Roebling and his son W. A. Roebling, it has a span of 1,595. . The property is one of Lower Manhattan's most recognizable due to its location and its distinctive green glass facade. * $47 Million of 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. Financing--South Beach Hotel--Carlton's Romano Tio and Marc Sznajderman arranged $47 million of 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 a partner buyout and pre-development phase of a condominium conversion and development project in South Beach, Florida This article is about the CDP in Indian River County. For the neighborhood in Miami Beach, see South Beach. For other uses of the term South Beach, see South Beach (disambiguation). . * $45 Million of Construction Financing --Atlanta Ground-Up Condo Development--Carlton's Steven Fenster arranged $45 million of ground-up construction and mezzanine financing for the development of 244 luxury condominium units and 14 town homes in the Buckhead Section of Atlanta, Georgia. * $47 Million of Acquisition and Development Financing--Greenwich Village Conversion--Carlton's Ruth Barone arranged and closed a $47 million acquisition and development loan for her client's purchase of 627 Greenwich Street. The 12-story, 107,000-square-foot loft building and adjacent parking lot are located on the corner of Morton Street in the heart of Manhattan's West Village. * $14 Million of Acquisition Financing --Mixed Use Bronx, New York Office Property--Carlton's Neil Bane BANE. This word was formerly used to signify a malefactor. Bract. 1. 2, t. 8, c. 1. arranged over $14 million of acquisition financing and a TI and Leasing commissions reserve facility for a 44,000-square-foot mixed use retail and office property on the prime Third Avenue retail corridor in the Bronx. Mr. Bane was able to utilize a strong lender relationship to obtain this loan, from application to closing, in 15 business days. * $30 Million of Fixed Rate Financing --Suburban NJ Office Building--Mr. Michaels and Mr. Campbell arranged and closed $30 million of fixed rate financing for their client's acquisition of Three Executive Campus, a multi-tenanted office building located in Cherry Hill, New Jersey. * $67 Million Loan Sale--Two Auto Loan Portfolios--Carlton's Tom McCarthy and Steve Scorgie closed the sale. |
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