2011 was another great year for Carlton as we closed over $7 billion in total transactions and as outlined below, we transacted over $2 billion of hospitality related deals.
We specialize in investment sales, recapitalizations and the financing of large, iconic hotels. Our hospitality advisory practice spans the globe as we execute large hospitality deals, both domestically and overseas. In addition, many of our deals also involve multi-tranched capital stacks that we can either put together or pull apart.
Please review the following link (Carlton Hospitality Division Overview), which will give you an overview of our significant hospitality track record, as well as the following highlights from our 2011 transaction success.
· We presently have an $800 million hard contract, with tens of millions of dollars at risk for the sale of a large portfolio of hospitality assets in the United States.
· Last year, we sold the $85 million first mortgage note on the Renaissance Convention Center in Las Vegas.
· We sold a $55 million first mortgage, secured by the Westin Savannah in Georgia.
· Last year, we represented Paulson and Winthrop in the $4 billion CNL hospitality foreclosure sale. This sale included some of the finest hospitality assets in the country, including the Grand Wailea Resort & Spa, the Ritz Carlton Grand Lakes and the Claremont Hotel Club & Spa.
· Last year, we represented Atrium Group in the $200 million UCC foreclosure sale of the 4,200-key Windsor Hospitality Portfolio.
· Last year, we represented RREEF in the successful foreclosure sale of the 676-key Westin Hotel in San Francisco. This asset was sold to Westbrook virtually simultaneous to the completion of the UCC sale.
In addition, prior to last year, we have also completed many noteworthy hospitality transactions, including:
- The sale of the Barbizon Hotel;
- The sale of the Gotham Hospitality Portfolio;
- Sale of participation interest in three tranches of the Extended Stay Hospitality Portfolio;
- Arranged all of the construction financing for the Trump SoHo in Manhattan;
- Financed the Shore Club and I did a $580 million recapitalization of the Morgan’s Hotel Group Portfolio, which consisted of the Delano, Mondrian, Morgan’s and Royalton hotels;
- The President of our Hospitality Group, John Bralower, was responsible for the sale of both the Savoy Hotel Group Portfolio that consisted of numerous five-star hotel assets throughout London, UK and the sale of the CIGA Hotel Group Portfolio, which comprised Italy’s most renowned luxury hotels, including the Hotel Danieli in Venice, Hotel Imperial in Vienna and the Hotel Pitrizza in Sardina.