Firm does well in the South, hires more help.Carlton Advisory Services' chairman Howard L. Michaels has announced that his firm has expanded its Florida office to include seven full time real estate professionals.
"Carlton's Florida presence has experienced tremendous growth over the last several years and the increase in volume has translated into the necessity for additional staff," said Mr. Michaels. "Furthermore, we had our most successful and profitable year in 2004, closing over $6 billion in transactions, and we'd like to capitalize on Cap´i`tal`ize on`
v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. that success by rolling out our unique platform nationwide."
Carlton continues to supplement its strength in mortgage brokerage and loan sales with an increased focus on equity recapitalizations, including transactions on some of the biggest office building and hotel deals in the country.
Outlined below are some of the most recent transactions either closed by or assigned to Carlton's Florida office:
$250 million construction and 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 for a ground-up luxury condo development in downtown Miami Downtown Miami is the central business district of Miami-Dade County and Miami, Florida. Brickell Avenue/Biscayne Boulevard is the main north-south road in downtown, and Flagler Street is the main east-west road in the Central Business District. . Carlton's Romano Tio and Mark Sznajderman arranged and closed the loan. The loan served as a replacement of a land loan and financed the construction of the project.
$47 million 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 Caribbean hotel conversion. Carlton's Romano Tio and Mark Sznajderman arranged and closed the $47 million loan financing for a partner buyout and pre-development phase of this project. Carlton arranged senior, mezzanine mez·za·nine
1. A partial story between two main stories of a building.
2. The lowest balcony in a theater or the first few rows of that balcony. 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 the conversion of the existing 80-unit Caribbean Hotel and the development of a new 89-unit tower. The equity component was funded by a conglomerate of offshore high net worth investors.
$23 million of preferred equity financing for a ground-up condo development in Fort Myers Fort Myers, city (1990 pop. 45,206), seat of Lee co., SW Fla., on the Caloosahatchee River, near the Gulf of Mexico; founded 1850, inc. 1905. It has a tourist trade and light industry and is a shipping point for citrus fruits, winter vegetables, flowers (especially . Ruth Barone and Chandler Conrad are arranging the loan. The development will consist of 374 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. units, 66 condo-hotel units, 131 marina slips, 33,000 s/f of retail space and 731 parking spaces.
$181 million for a portfolio of residential mortgage loans. Carlton's loan sale group sold a $181 million portfolio of fixed rate 15- and 30-year mortgages on behalf of a large southeast regional bank. The loans were newly originated performing residential home equity loans and the transaction closed in March for an attractive premium despite a significant increase in interest rates.
$110 million equity and debt financing for a Miami ground-up condo development. Carlton's Thomas McCarthy Thomas McCarthy may refer to:
$24 million equity and debt financing for The Villa Luisa. Carlton's Romano Tio and Mark Sznajderman arranged and closed the loan for its client's acquisition and condominium conversion of three buildings located in South Beach. The capital package will enable the client to acquire the property and begin on the initial marketing and pre-sale efforts.
$28 million bridge loan and equity for a residential community development in Panama City Panama City, city (1990 pop. 34,378), seat of Bay co., NW Fla., on St. Andrews Bay; inc. 1909. A Gulf Coast resort with amusement parks and excellent fishing, it is also a port of entry. The city's industries produce paper, clothing, and chemicals. . Carlton's Steve Scorgie is arranging the loan on behalf of a prominent Florida developer. The project will be developed on 1950 acres of land and will consist of a residential development and a golf course.
$80 million senior and mezzanine financing for a condominium development in South Beach. Romano Tio and Marc Sznajderman are in the process of arranging the financing in connection with the ground up development of luxury condominiums on one of the few remaining beachfront beach·front
A strip of land facing or running along a beach.
Situated along or having direct access to a beach: beachfront hotels; beachfront property.
Noun 1. sites in South Beach.
$158 million construction and equity financing for seven hotels across the U.S. Carlton's Florida office is arranging the loan for the ground-up development of seven hotels in seven markets across the country. The product is designed to be positioned between upscale limited service hotels and luxury full service hotels.
$67 million for two automobile loan portfolios. Carlton's loan sale group sold the portfolios on behalf of a prominent financial institution. Carlton was able to deliver multiple competitive bids on behalf of the client at aggressive pricing and favorable fa·vor·a·ble
1. Advantageous; helpful: favorable winds.
2. Encouraging; propitious: a favorable diagnosis.
In addition to focusing on arranging the most advantageous capital packages for its clients, Carlton's Florida hires will also look to expand its loan sale advisory business.
"We look forward to having these new hires making a significant and immediate contribution to Carlton," noted Mr. Michaels.