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Carlton launches new division with $270m exchange deal.

CSV Investment Management has been hired by an overseas high net worth family, in conjunction with a large 1031 exchange need, to identify and advise on the acquisition of trophy office properties and A-credit, net leased, office properties with long term leases located in the CBD's of major US markets.

CSVIM seeks deals with a minimum purchase price of $100 million, preferably unencumbered with any restrictive debt.

The new investment management group, headed by Edward C. Yu, will advise on the purchase of up to $270 million of acquisitions in two to three transactions on behalf of its client.

Yu had previously been an investment manager with Starwood Capital Group, Koll Investment Management (now part of CBRE Investors) and AEW Capital Management, working with commingled fund and separate account direct real estate investment strategies.

The Carlton Group, Ltd. has expanded its business lines to include real estate investment management, advising on both 1031 exchange and direct real estate investments on behalf of its clients.

CSVIM will manage separate accounts, and may also raise and manage commingled real estate investment funds for high-net-worth and institutional investors. Its investor client base is diverse and presently includes wealthy individuals, family endowments and money managers, among others.

CSVIM professionals have extensive experience in the acquisition and asset management of all property types, with a focus on office, hotel, multifamily/residential, retail and industrial properties. The mandate is to preserve capital and achieve attractive risk-adjusted returns. CSVIM works closely with its clients on a discretionary and non-discretionary basis on direct real estate.

Carlton, headquartered in New York, is one of the leading boutique real estate investment banking firms in the nation.
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Title Annotation:FINANCE
Publication:Real Estate Weekly
Date:Jun 28, 2006
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