Carlton secures over $2b in equity and debt assignments.Carlton Advisory Services' Chairman Howard L. Michaels announced that his company has been hired as exclusive equity and debt advisor for the acquisition, refinancing Refinancing An extension and/or increase in amount of existing debt. and construction of over $2 billion of prime real estate assets covering all major property classes. Among the assignments, many being transacted on behalf of some of the most active real estate developers and entrepreneurs in the nation, are: * $200 Million of Preferred Equity Financing--Premier Manhattan Office Building--Carlton, as exclusive advisor to a developer, is in the process of arranging preferred 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. for a premier 2-million-square-foot office building situated in a prime area of Manhattan. * $450 Million of Acquisition & Construction Financing--Multiple Hotel Assets--Carlton, as exclusive advisor to an international hospitality developer, is arranging acquisition and construction financing as well as joint venture equity for a major hotel company. The capital package will enable the client to develop several branded hotels aggregating to over 800 keys 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 and Canada. * $150 Million of Condominium condominium In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. Conversion Financing--South Beach Condos--Carlton, as advisor to a national hotelier, is in the process of arranging condominium conversion financing for a South Beach hotel. * $200 Million of Debt & Equity-Luxury Chicago Condominium Development--Carlton, as exclusive advisor to a national developer, is in the process of arranging acquisition and construction financing for a luxury condominium development in the heart of downtown Chicago. * $165 Million of Senior Mortgage Financing--Three Luxury Resort Projects--Carlton, as advisor to a luxury resort spa owner and operator, is arranging senior mortgage financing for three luxury resort projects. The first project is to acquire and reposition a luxury resort in California, the second is to redevelop re·de·vel·op v. re·de·vel·oped, re·de·vel·op·ing, re·de·vel·ops v.tr. 1. To develop (something) again. 2. a 10-acre spa in Bermuda and the third is to develop a 128-acre site in Hawaii. * $62 Million of Construction Financing--Prime New Jersey Mixed-Use Oceanfront o·cean·front n. Land bordering an ocean: Condominiums crowd the oceanfront. Noun 1. oceanfront - land bordering an ocean Development--Carlton, as advisor to a New Jersey developer, is arranging $62 million of construction financing for a prime oceanfront, mixed use development in New Jersey. * $48 Million of Debt & Equity--Luxury Mixed-Use Development Mixed-use development refers to the practice of allowing more than one type of use in a building or set of buildings. In planning zone terms, this can mean some combination of residential, commercial, industrial, office, institutional, or other land uses. in New York--Carlton has been retained to arrange approximately $48 million of acquisition and construction financing for of a mixed-use development in Saratoga Springs Saratoga Springs, resort and residential city (1990 pop. 25,001), Saratoga co., E N.Y.; inc. as a village 1826, as a city 1915. Skidmore College is the largest source of employment, but the city also has light manufacturing. , NY. * $13 Million of Acquisition & Renovation Financing--Single Family Townhouse town·house or town house n. 1. A residence in a city. 2. A row house, especially a fashionable one. in Manhattan--Carlton, as advisor to a New York residential developer partnership, is seeking a one-year, non-recourse loan for the acquisition, renovation and conversion of a property into a single-family occupancy. * $6 Million of Senior Mortgage Financing--New Jersey Warehouse and Industrial Building--Carlton has been retained to arrange fixed and/or floating rate financing for a New Jersey warehouse and industrial building. "It is a pleasure to work closely, and on an exclusive basis, with these highly successful owners and operators," concluded Mr. Michaels. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion