he Four Seasons Milan is one of Europe’s most beautiful hotels and is comprised of 117 luxury rooms, with 51 suites, two five-star restaurants, a high-end spa and a prime high-street retail store in the heart of the Montenapoleone district of Milan. This transaction, which was in the works for over six months, continues to demonstrate Carlton’s unique ability to access capital and close transactions even though liquidity in Europe is scarce.
Moreover, while the Four Seasons is an excellent asset, the loan encumbering the property was overleveraged. Notwithstanding, Carlton was able to access a U.K. balance sheet lender who funded the transaction. In fact, Carlton’s structure was highly-beneficial to our client, in that it allowed them to buy their loan back at a sizable discount and maintain ownership without bringing in any other equity investors.