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Volatile market fails to impact CMBS business.

In the past several weeks, notwithstanding the present issues in the CMBS market, Carlton Advisory Services has closed, rate locked, or had committed over $2 billion in debt and equity transactions, the firm announced.

Carlton's extensive market relationships coupled with clients' commitment to close transactions have propelled the firm's active pipeline during a turbulent month, the firm said.

Consistent with Carlton's significant and diverse deal pipeline, the firm recently has closed or rate locked transactions including debt advisory, development financing and entity level fund raising, as well as an international resort debt and equity recapitalization.

These transactions represent a diverse geographic portfolio, Carlton said. They include raising equity for a West Coast industrial fund, financing a trophy office tower in the Midwest and an international debt and equity recapitalization in Costa Rica, as well as core and development financing in the heart of Manhattan and San Francisco.

Despite widening spreads and adverse market conditions, Carlton has maintained its leading role as a force in completing equity and debt transactions. Recently closed or rate locked transactions include the following:

* $350 Million Development Financing for Ultra Luxury Hotel and Hotel/Condominium in New York--Carlton has arranged a commitment for $350 million financing for the as-of right development of a five star luxury residential and hotel development in Manhattan.

* $28 Million land loan for mixed use development in San Diego--Carlton recently secured a commitment for a $28 million bridge loan for a prime mixed use condominium development in San Diego.

* $20 Million Acquisition and Pre-Development Financing for Luxury Boutique Hotel, Manhattan, New York--Arranged approximately $20 million in debt and equity financing for the development of a 180-key luxury boutique hotel near the Flatiron District in Manhattan.

* $210 Million Acquisition Financing for a Trophy Office Tower in Manhattan--Carlton has rate locked a $210 million first mortgage for a Class A trophy office tower with a major investment bank.

* $400 Million Senior Financing for two Prime New York City transactions --Carlton has arranged $400 million of senior financing for two prime New York City office transactions.

* $106 Million Debt Financing for a New York City Office Asset--Carlton recently rate locked a ten year fixed rate interest only loan secured by a New York office asset in Manhattan.
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Title Annotation:FINANCE
Comment:Volatile market fails to impact CMBS business.(FINANCE)
Publication:Real Estate Weekly
Date:Jun 20, 2007
Words:372
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