Debt Placement

 

Led by Carlton’s Chairman, Howard L. Michaels, Carlton is one of the premier commercial real estate debt advisors in the United States. Under his leadership, Carlton has completed billions of dollars of successful finance transactions in recent years. Carlton’s success is greatly attributable to its unique ability to structure complicated transactions, and then identify and procure the lenders and investors that are needed to fulfill the required terms to consummate the transaction.

Carlton is consistently able to secure for its clients the absolute best terms available in the marketplace, whether from Wall Street investment banks, commercial banks, insurance companies, pension and opportunity funds, or private equity investors. Carlton is able to structure and secure the necessary forms of financing, including but not limited to: first mortgage debt; mezzanine and junior debt; joint venture equity; preferred equity; private and public bond placements; and other related financings.

Carlton continues to build on its dominant position as the leader in arranging mega debt transactions. In 2006, Carlton closed more than $5 billion of senior, mezzanine and equity financing on many of the most desirable assets located throughout the U.S.

Carlton continues to be extremely active and gain market share in the areas of construction financing (In 2006, despite very challenging market conditions, Carlton was able to secure several hundred million dollars of debt and equity for residential projects throughout the U.S., and specifically, in generally perceived “overbuilt” markets such as South Florida) and loan sales, where Carlton transacted several hundred million dollars of residential, commercial and consumer loans on behalf of major financial institutions.

Many of these projects represent some of the largest single-asset property transactions in the United States. Select debt transactions reinforcing Carlton’s position as the large loan specialist in the U.S. include:

Debt Placement Transactions:

MultiDeals$807 Million Debt Refinancing – 11 Madison Avenue, New York, NY
Carlton arranged a new $807 million, fixed-rate, ten-year interest-only senior mortgage for our client’s refinancing of the 2.23 million square foot landmark Midtown Manhattan office which serves as the global headquarters for Credit Suisse.
MultiDeals$775 Million Debt Acquisition Financing – State Street Financial Center, Boston, MAAs exclusive capital advisor to their client, Carlton arranged a ten-year, fixed-rate interest only mortgage for this 36-story, 1.1 million square foot Class A, trophy office building located in Boston’s financial district.
MultiDeals$522 Million Debt Acquisition Financing – Citadel Center, Chicago, IL
Carlton arranged $522 million of fixed-rate, ten-year interest-only senior financing for its client’s acquisition of Citadel Center, a 1.5 million square foot Class A+ trophy office tower in the heart of Chicago’s CBD. The mortgage represented 90% of the “all-in” acquisition cost, and was obtained at a very low spread.
$240 Million Bond Financing – 2 Broadway – New York, NYAs exclusive advisor to the Owner, ZAR Realty Management Corp., Carlton arranged a $240 million private placement with five insurance companies for the permanent financing of this 1.6 million square foot Class “A” office building.
$208 Million Debt Financing – Starrett Lehigh Building – New York, NYCarlton arranged the $208 million mortgage to re-finance this high profile and eclectic 2.3 million square foot office building located in West Chelsea Manhattan. Carlton originally arranged a $150 million acquisition mortgage on behalf of the owners when they first acquired the asset.
$150 Million Revolving Credit Facility for B-Note Investment FundCarlton served as exclusive advisor to Allied Partners in arranging a $150 million revolving credit facility to acquire B-notes, mezzanine loans and non-performing investment grade debt.
$141 Million Debt Acquisition Financing – Two Gateway Center, Newark, NJCarlton arranged $141 million of senior debt financing for a client’s acquisition of this 900,000 square foot Class A office building located in Newark, New Jersey.
$100 Million Senior Debt Financing – IBM Corporate Campus – Charlotte, NCCarlton acted as acquisition advisor and arranged $100 million of senior debt financing on behalf of a major international real estate opportunity fund for their acquisition of this class A, two million square foot office campus located in Charlotte, North Carolina. The property is leased to three major tenants: IBM, Selectron and MSL.
$55 Million of Acquisition and Construction Financing – Two Spruce Street – New York, NYCarlton arranged $55 million of senior debt and equity construction financing (90% of total capital structure) on behalf of a major international owner / developer for this 200,000 square foot residential condominium and corporate apartment development located in Lower Manhattan.
$45 Million Acquisition Financing – One South Broad Street – Philadelphia, PACarlton procured $45 million of senior debt and equity financing for a client’s acquisition of this class A office asset in downtown Philadelphia. The building has over 465,000 square feet and is located less than one block from City Hall.

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