Cosmopolitan deal for $45m.Carlton Advisory Services' Chairman Howard L. Michaels announced that his company has arranged and closed $45 million of acquisition, construction and 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 its clients' acquisition and ground-up development of The Cosmopolitan at Lindbergh, a luxury 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. and townhome development in the Buckhead section of Atlanta, Georgia. Carlton accessed a Middle Eastern investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and to provide the equity for this transaction. "Our firm has an excellent reputation for accessing overseas equity and debt investors," noted Mr. Michaels. "For example, Carlton recently brought in a German Closed Fund to complete the $1.7 billion 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 the General Motors Building." The project, which is located in a highly desirable area that is home to many major employers and boasts some of the best retail, dining and entertainment options in the city, involves the acquisition, construction and development of 245 condominium units and 14 three-story townhomes. The Cosmopolitan will benefit from its proximity to Atlanta's Lindbergh City Center, which is one of the largest mixed-use developments 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 the country. |
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