2015 was an excellent year for Carlton and its clients as we capitalized well over $3 billion of Manhattan luxury condominium, hotel and retail transactions along with an additional $1 billion of closings throughout the United States and Europe.
Carlton’s hard hitting aggressive advisory business which focuses on arranging equity partnerships between capital and operating partners and large loans along with having some of the best international real estate relationships in the world, allowed Carlton’s clients acquire and recapitalize transactions which will result in well over $2 billion in profits.
Noteworthy 2015 transactions were as follows:
– Highline – Carlton exclusively represented iconic developer Ziel Feldman and his HFZ capital in their blockbuster $1 billion acquisition of arguably the most valuable luxury condominium site in Manhattan. Carlton arranged a multi-tranche capital stack bringing in five different lenders and investors to provide the capital for this tremendous acquisition.
– 1568 Broadway (a/k/a Doubletree Hotel in Times Square) – As the exclusive advisor to Maefield Development and its institutional investment partner, we facilitated the acquisition of this $1 billion hotel, retail, LED signage and entertainment property in heart of Times Square.
– 125 Greenwich – Carlton arranged the initial funding of the development of this 70-story luxury condominium tower. At the acquisition we organized an unbelievable capital stack which was comprised of a Singaporean lender, Indian high net worth investor and an Asian equity partner. In 2015, we arranged the closing of the initial funding of $170 million EB-5 financing which will facilitate the further development of this 70-story tower.
– Manhattan Tribeca Condominium Development – Carlton arranged a joint venture from a consortium of 3 Asian investors who invested a $125 million of equity to facilitate the $1 billion condominium development of this 70-story luxury condominium tower in Tribeca.
– 1 Million Square Foot Detroit Asset – On behalf of a top property owner, we arranged 100% acquisition and pre-development financing to facilitate the acquisition of this one million square foot commercial property in the heart of Detroit’s downtown.
– $100 Million Manhattan Assemblage – We were the exclusive advisor for to a major property owner and facilitated their acquisition of an assemeblage which comprised of a full block front on a prime Manhattan avenue.
– $250 million Equity Recapitalization On Baltimore Multi-family Portfolio – Carlton accessed an equity investor which facilitated the recapitalization of this multi-family property on highly beneficial terms to its clients.
– 576 Fifth Avenue – Carlton raised the equity on the acquisition of a prime Mid-town Manhattan corner office building which was subject to a short-term ground lease.
– West 125th Street – Carlton exclusively represented the borrower, a successful owner/operator of a NYC retail, office and multi-family portfolio, who plans reposition the site into a office, retail and apartment project.
– W Hotel Union Square – Carlton arranged the sale of a partial equity interest in the W Union Square hotel in Manhattan.
Carlton Europe either closed or has under agreement over €300 million of prime European multifamily, retail and hospitality properties. Similar to what we do in the United States, we provide high temperature capital as well as executing a competitive investment sales program to maximize returns for our clients.
Finally, through Carlton’s principal transactions group, Carlton Strategic Ventures, we acquired the Plaza at Harmon Meadow, a 218K sf lifestyle shopping center in Secaucus, NJ. The property is currently 96% occupied to a diverse mix of tenants mostly on long-term leases. CSV co-invests with clients and makes direct off market acquisitions and currently is the managing member of more than 2 million square feet of assets and also has significant equity invested in over $1.5 billion of assets in Manhattan and Chicago which are managed by Carlton clients.