Carlton Group Chairman Howard L. Michaels has announced the hiring of capital markets specialist Jerry Ellis who will join Carlton’s team raising large debt and equity for some of the more notable transactions in the market today.
Jerry brings more than 25 years of commercial real estate investing experience to Carlton, having participated in the origination, underwriting and closing of more than $10 billion of transactions in his career. He specializes in the structuring of common/preferred equity investments as well as mezzanine, bridge and senior debt and has extensive experience with all commercial real estate asset classes including office, retail, multifamily and hotels. Most recently, Jerry was a member of the executive management team of a hotel investment company with responsibility for project and corporate capital markets. Jerry also held senior banking positions with First Key, Guggenheim Partners, Morgan Stanley and Merrill Lynch. Jerry has a degree in economics from the University of Notre Dame.
Jerry is on the Carlton team currently engaged to recapitalize $1.1 billion of debt and $400 million of equity for a 9.2 million sf suburban office portfolio. These well-managed Class A properties boast a current NOI of approximately $100 million and are valued at a conservative $150 psf.