Carlton chairman Howard Michaels launched the formation of an international investment sales team to provide aggressive investment sales services to its worldwide clientele.
The investment sales group will focus on Manhattan and other major cities throughout the United States and Europe. Assignments of $100 million or greater will be the focus of the investment sales division.
Joining Michaels on the investment sales team will be Carlton Hospitality president John Bralower, one of the most accomplished hospitality investment sales experts in the world. In addition, senior investment banker, Javier Beltran, who runs Carlton's Iberian franchise and who just sold a major hotel in Spain for one of the largest financial institutions in Spain, will also be a leader of the international investment sales team.
The trio has completed well over $100 billion of investment real estate sales and highly structured debt and equity offerings. Beltran has also just launched the exclusive sale of a seven hotel portfolio in the Canary Islands which generates close to 100 million euros in revenues. Bralower is the exclusive sales advisor on two large European transactions representing over 3,000 hotel keys including Portugal's most famous hotel.
"We believe that we can provide a solid viable alternative for property owners who are looking for a totally independent and objective sales advisor which presently doesn't exist in the Manhattan market place today," said Carlton Partner Michael Campbell.
Several of the senior, elite Carlton capital raising specialists include: European specialist Mads Loewe, who speaks five languages; Frenchmen, Clement Guy, who formerly worked at Archon in Paris; Brian LeBlanc, who formerly worked at Alliance Bernstein; Robert Mudry, who previously worked at Drexel Burnham; and Jeff Kosow, a former developer with tremendous development expertise. Rounding out the team is Chase Chehade, who is Lebanese and covers UAE, Andrew Manton previously at Walter & Samuels and Chad Roberson.
The Carlton New York unit benefits from a worldwide practice which regularly transacts business throughout Europe and Asia connecting international investors who want to invest in Manhattan. The purpose of formalizing the international sales team is to provide the marketplace with a highly aggressive, sophisticated independent investment sales option to sellers who are looking to maximize proceeds through Carlton's 24/7 work ethic, access to its international relationships and its excellent negotiating prowess.
Michaels is one of the top advisory deal makers in Manhattan, having completed well over 40 million square feet of Manhattan transactions and is regularly on the shortlist to complete some of New York's biggest and highest profile transactions. Certain of the transactions completed by Michaels and his elite team of capital market specialists are as follows:
• The $1.4 billion recapitalization at the General Motors Building which provided the funding for the world's number one Apple Store and the retail expansion on Madison Avenue.
• The original Starrett Lehigh Building acquisition and recapitalization with Shorenstein.
• The fee simple and leasehold sale of the Lipstick Building and 292 Madison Avenue.
• The billion retail condominium sale at 666 5th Avenue.
• The original 1998 blockbuster sale of four Manhattan buildings which included one of New York's largest and most valuable assets, 111 Eighth Avenue.
• The$800 million acquisition and joint venture of Manhattan House which at the time was the single largest condominium development ever acquired.
• And numerous other Manhattan transactions including representing Winthrop and Pershing on their attempted $4 billion UCC foreclosure at Stuyvesant Town - Peter Cooper Village.
In addition, Michaels and Carlton regularly raise close to 100% of the purchase price by partnering some of New York's largest property owners with capital providers to facilitate acquisitions and recapitalizations. In fact, post credit crunch Carlton has been even more active providing capital on some of New York's biggest investment sales and recapitalizations including:
• The sale of 14 Wall Street to a Ukrainian Billionaire.
• 737 Park Avenue
• 150 East 72nd Street
• The $600 million acquisition and construction loan placement at 701 Seventh Avenue.
• Over $1 billion of equity recapitalizations at One Park Avenue, 1180 Sixth Avenue and 450 West 33rd Street Tags: