Carlton closes $2 billion in fourth quarter 2012

According to Carlton chairman Howard Michaels, the firm closed $2 billion of debt, equity and investment deals in the fourth quarter of 2012 which topped off over $5 billion in completed transactions for 2012. Most of the transactions involved large land acquisition and/or construction financing, with mezzanine and/or equity to fuel some of the best developments in Manhattan, as well as in Europe. The deals included: * UWS Chatsworth Apartments Acquisition: Carlton represented developer Ziel Feldman, head of HFZ Capital and their partner BSG Real Estate, to acquire the Chatsworth, a beaux-arts rental building at the corner of 72nd St. and Riverside Dr. Carlton arranged the acquisition and renovation financing. * $400 million investment sale at 701 Seventh Ave.: Carlton arranged the investment sale of this prime 300,000 s/f development site in Times Sq., which will be developed into a retail, signage and 500-key hotel project. * $400 million first mortgage construction closing at 432 Park Ave.: This construction loan closing was arranged by Carlton with one of its European balance sheet lender relationships. * $600 million debt and equity raise for the acquisition, development and construction of 701 Seventh Ave.: Carlton arranged a $475 million acquisition and construction loan, along with $125 million of structured and common equity from a NYSE listed company and two high-net worth investors. * Confidential Manhattan residential tower and hotel: Carlton arranged a joint venture between two developers for the acquisition and construction of a 25-story tower condominium and 370-key hotel. In addition to arranging the partnership, Carlton also arranged a high leveraged land loan to facilitate the acquisition and pre-development at one of Manhattans most valuable residential and hospitality properties. * 350,000 s/f multifamily ground up development in Long Island City:Carlton arranged the acquisition debt and equity for this acquisition, as well as organizing a joint-venture amongst three investors and developers. The acquisition and pre-development loan will facilitate the acquisition and pre-development of a multifamily rental tower. * $40 million condominium inventory loan in Las Vegas: Carlton accessed a major institutional investor to provide very favorable and flexible financing to facilitate the recapitalization of 72 residential units at the Queensridge Towers in Las Vegas, Nevada. * $13 million first mortgage secured by The Custom Hotel in Los Angeles: Carlton accessed a local commercial bank, which provided our client with great terms to facilitate the recapitalization of this one-of-a-kind, 250-room boutique hotel near Los Angeles International Airport. * Chicago apartment equity recapitalization: Carlton placed with a major pension fund an equity recapitalization at the 174-unit Elaine Place Apartments in Chicago, Illinois. * $250 million discounted loan payoff and recapitalization at The Four Seasons Milan: This transaction was the largest single-asset deal in Europe in 2012. Carlton arranged a $250 million discounted first mortgage loan payoff and recapitalization for this premier, five-star 117-key hotel in Milan, Italy. Carlton accessed one of its proprietary European balance sheet investors to capitalize this transaction, which did not dilute the ownership interest at all.