Carlton closes $74M Broad St deal.Carlton Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal has arranged a $74 million mortgage and joint venture equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. package for the simultaneous refinancing Refinancing An extension and/or increase in amount of existing debt. and recapitalization Recapitalization Restructuring a company's debt and equity mixture often with the aim of making a company's capital structure more stable. Notes: Companies often want to diversify their debt-to-equity ratio to improve liquidity. of 80 Broad Street, it has been announced by Carlton Chairman Howard L. Michaels. The 36-story office tower, located in the heart of Lower Manhattan's Financial District, contains 395,070 rentable square feet of office and retail space and is 83% leased to a diverse mix of credit-quality tenants. In addition to negotiating a very favorable senior mortgage, Carlton also accessed one of its investment clients to contribute equity capital and to joint venture with the borrower/operating partner. This enabled its client to buy out the existing capital partner and allowed the operator and its new joint venture partner to gain 100% control of the asset. The operating partner secured an attractive structure for completing this "off market" transaction. Carlton is one of the country's leading real estate investment banking firms specializing in the structuring of mezzanine, preferred and joint venture equity financing. The 80 Broad Street transaction is among the over $3 billion of debt and equity financing transactions that Carlton has closed over the past six months. Carlton executives Michael J. Campbell and Matthew Meek meek adj. meek·er, meek·est 1. Showing patience and humility; gentle. 2. Easily imposed on; submissive. assisted Mr. Michaels in arranging this transaction. |
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