Carlton Chairman Howard L. Michaels today announced that The Carlton Exchange (CEX) has been retained as the exclusive seller of $10 million of non-performing first mortgage loans secured by eight commercial office, retail and hospitality properties located throughout the United States.
“This $10 million portfolio is a great opportunity for investors to utilize the Carlton Exchange to bid on and acquire loans backed by cash-generating assets,” said Chairman Michaels.
The loans are being offered on a competitive real time-bid basis and prospective bidders may bid on individual assets, bidder-defined asset pools or on the entire portfolio. Prospective bidders may bid at anytime by completing and submitting a bid form that can be found on the Carlton Exchange website (http://www.carltonexchange.com). Last day for real-time bidding is November 17, 2010.
Below is a description of some of the exceptional attributes of these loan assets, which can be found on the Carlton Exchange website.
- Colorado Springs, CO: A Three-story, 8,120 square foot mission style boutique hotel initially built in 1921 and renovated in 1993. The historic inn is located at the entrance of North Cheyenne Park and Pike National Forrest.
- Pembrook, FL: A 9,745 square foot retail complex previously used as a wholesale nursery.
- Sarasota County, FL: A 6,113 square foot, stand alone office building constructed in 2004 that is located within a larger business complex in the Venice, FL, submarket.
- Douglasville, GA: A 7,100 square foot multi-tenant retail building that was recently renovated and is located in the greater Atlanta metropolitan area with excellent access to the area’s major thoroughfares.
- Goshen, IN: A 207-key, full-service hotel with meeting rooms, game room, restaurant and lounge.
- Washington, IN: Two buildings totaling 15,746 square feet previously used as a warehouse and office.
- Grawn, MI: A 34,800 square foot family entertainment center consisting of a bowling alley, billiards, laser tag, arcade center, miniature golf, banquet room and sports bar.
- Brockport, NY: A 3,100 square foot building utilized as an automotive service facility and includes four service bays.
About The Carlton Exchange
The Carlton Exchange (http://www.carltonexchange.com) is a leading exchange for the buying and selling of loans and REO assets. Carlton Exchange is a subsidiary of Carlton Advisory Services, Inc., an international real estate investment banking firm prominent in commercial and residential loan sales, debt and equity placement and merchant banking. Carlton also specializes in arranging passive, promotable equity for real estate and real estate-related fund vehicles for many of its clients who include some of the most successful developers and financial institutions around the world. Carlton was founded in 1991, and has consummated approximately $50 billion of transactions.