Carlton completes $10 billion loan restructuring post credit crunch
Real estate investment banking firm Carlton Group has finalized $10 billion in loan restructuring, acquisition and recapitalization transactions since the end of the credit crunch, the New York-based firm said Tuesday. Included in the list of transactions is the firm's $150 million equity and debt financing of performing first mortgages. Carlton said it arranged $110 million in long-term, fixed-rate note acquisition financing. The firm also obtained an institutional joint venture equity partner for the acquisition of the performing first mortgage loans. "We have unparalleled access to many off-the-radar and nontraditional sources of capital, many of whom are looking to invest in today’s opportunistic market,” said Carlton Chairman Howard Michaels. Carlton has access to capital through domestic equity funds, wealth and money management firms, Middle Eastern equity investors, family and office investors, and European and Asian institutional investment firms. Write to Kerri Panchuk.