Carlton Hospitality Overview

Transcription

THE CARLTON GROUP
HOSPITALITY DIVISION
SCHRAGER/MORGANS
HOTEL PORTFOLIO
701 7TH AVENUE
NEW YORK
SAVOY
LONDON
FOUR SEASONS MILAN
ITALY
WESTIN VALENCIA
SPAIN
TRUMP SOHO
NEW YORK
Five-Star Investment Sales, Debt & Equity Placement and Branding Services
NEW YORK
WWW.CARLTONGROUP.COM
LONDON
MADRID
TEL AVIV
ATHENS
DUBAI
LOS ANGELES
WEST PALM BEACH
Carlton Hospitality I #1
HOTEL DANIELI
INVESTMENT SALES
EQUITY PLACEMENT
VENICE, ITALY
INVESTMENT SALE EXECUTED BY
CARLTON’S HOSPITALITY PRESIDENT
DEBT PLACEMENT
INTERNATIONAL DIVISION
LOAN SALE TRADING
VALUATION & LOAN
RESTRUCTURING
FORECLOSURE ADVISORY
Global Capital ~ Local Knowledge
Table of Contents
i.
CARLTON GROUP OVERVIEW
ii. CARLTON HOSPITALITY DIVISION
iii. CARLTON HOSPITALITY LINES OF BUSINESS
iv. CARLTON GLOBAL INVESTOR ACCESS
v. COMPLETED U.S. HOTEL TRANSACTIONS
vi. COMPLETED CARIBBEAN HOTEL TRANSACTIONS
vii. COMPLETED EUROPEAN HOTEL TRANSACTIONS
viii. CARLTON HOSPITALITY SENIOR EXECUTIVES
For further information on how we can assist you with your transaction,
please contact either of the following Carlton Executives:
HOWARD L. MICHAELS
CHAIRMAN
[email protected]
MICHAEL J. CAMPBELL
PARTNER
[email protected]
THE CARLTON GROUP HOSPITALITY OVERVIEW
The Carlton Group has been is business since 1991 and has completed over $100 billion of debt, equity and investment sale
transactions. We specialize in representing large property and institutional owners on developing and executing a highlysophisticated and customized capital market program solutions either through an investment sale or highly-sophisticated multitranched debt and equity capital placement.
Carlton is one of the top hospitality advisors in the world and has executed some of the biggest investment sales and debt and
equity recapitalizations, and frequently provides strategic advice for the rebranding and repositioning of hospitality assets.
Our real estate capital markets advisory practice is run by Carlton Chairman Howard L. Michaels, industry veteran Brendan Sullivan
and Javier Beltran, who is Managing Director of our office in Madrid and Iberia. Collectively, the Carlton team consists of over 40
capital market professionals in the United States, Europe and the Middle East.
We boast a unique capital markets platform which specializes in investment sales and in arranging large equity and debt capital
from both global institutional investors as well as numerous private equity and balance sheet sources of equity and debt capital which
includes endowments, family offices, high net-worth individuals, pension funds, multi-strategy funds, insurance companies and other
balance sheet investors. Our core expertise is working on large, complex transactions, which often have to be executed within a short
timeframe.
With respect to 2013, Carlton raised over $6 billion of capital, which includes over $2 billion of hospitality transaction closings.
These transactions included:
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Arranged 50 story Edition Hotel in Time Square between Ian Schrager, Witkoff Group and Starwood Capital
$525 million structured finance for the Park Lane Hotel in Manhattan
$815 million construction and mezzanine loan for 701 7th Avenue
Controlling sale and recapitalization of the Shore Club in South Beach Miami
$90 million acquisition loan for a Miami oceanfront hotel and development site
Completed the sales transaction of the Westin Valencia Hotel in Spain
In 2012, we executed the €250 million recapitalization of the Four Seasons Hotel in Milan, Italy, which was the largest single-asset
trade in Europe for the year.
CARLTON GROUP HOSPITALITY TRANSACTIONS
Large, high-profile hospitality transactions recently completed or currently being marketed by Carlton include:
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$525 Million Structured Acquisition and Renovation Financing for Park Lane Hotel on Central Park South
$815 Million Debt and Equity Financing for the Acquisition and Construction of a Large Times Square Property
€300 Million Seven-Hotel, 3,500-Key Portfolio In the Canary Islands, Spain
Sale of the controlling interest and recapitalization at the Shore Club in South Beach, Miami
$90 Million Acquisition Facility for Miami Beach Oceanfront Hotel and Condominium Development
Sale of the Five-Star, 135-Key Westin Valencia Hotel in Spain
Historically, Carlton and its Senior Executives have been responsible for some of the most important hotel
transactions in Europe and the United States:
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€250 Million Recapitalization of the Four Seasons Hotel in Milan, Italy
$800 Million Sale of the Savoy Hotel Group Portfolio;
$700 Million Sale of the CIGA Hotel Portfolio;
$335 Million Construction Financing for the Trump SoHo;
$580 Million Recapitalization of the Ian Schrager / Morgan's Hotel Portfolio;
Represented Paulson & Co. and Winthrop Realty on the $4 Billion Foreclosure Sale of the CNL/MSREF Hotel
Portfolio
THE CARLTON HOSPITALITY DIVISION
Carlton has been in business since 1991 and has completed over $100 billion in transactions. We represent large property owners and
financial institutions in arranging large equity and debt placements, as well as putting together a strategic business plan to maximize
the value of an asset through a competitively-run investment sale.
Certain of our strongest attributes are as follows:
Top Hospitality Professionals – The Carlton Hospitality Division is comprised of some of the most seasoned hospitality professionals in
the business, who in total have executed billions of hotel transactions. The Hospitality Division is led by Carlton Chairman Howard L.
Michaels, Managing Director Brendan Sullivan, Head of Iberia Javier Beltran and European Director Mads Loewe. Mr. Sullivan has
advised on and completed over $5 billion of hospitality transactions and prior to joining Carlton was the President of InterBank Brener
Hospitality, the Regional Director of the Americas for Knight Frank and was on the Advisory Board for New York University's Tisch
Center for Hospitality. In addition, we have some of Europe's top professionals with Javier Beltran running our Iberian region, who was
previously the Head of Investment Banking at UniCredit and previously worked at Barclays Capital, Morgan Stanley and UBS. Mr.
Beltran has more than 19 years of investment banking, real estate and capital markets experience throughout Europe. Mr. Loewe is a
former DLA Piper attorney and has 10 years of global private equity and real estate experience covering both the United States and
Europe, and has lived and worked on three continents and speaks French, Russian, Danish, Spanish, Swedish and Norwegian.
Global Presence & Investor Access – In todays market, executing a successful hotel transaction requires a true global presence, where
from our offices in New York, Milan, Madrid, Tel Aviv, Athens, Dubai, London and West Palm Beach gives Carlton the ability to access
capital from around the world. Over the last 15 years, Carlton and its senior executives have completed many large, high profile
hospitality transactions. Carlton specializes in raising balance sheet and off the radar equity and has many relationships with private
equity funds, ultra high net worth individuals, sovereign wealth investors, hedge funds, family offices, money managers, and other
capital sources that are highly motivated to invest in quality projects with proven operators.
History of Executing Landmark Transactions That Set Market Primacy – Carlton’s Hospitality team is known for executing some of the
largest hospitality transactions throughout the United States and often sets size and valuation primacy within its active markets. Certain
recent significant hospitality assignments include the $4 billion mezzanine UCC foreclosure sale on behalf of Paulson & Co. and Winthrop
Realty Trust on the “CNL/MSREF” portfolio, the $600 million financing for the acquisition and development of 701 Seventh Avenue in
Times Square Manhattan, and the €250 million recapitalization of the Four Seasons Hotel in Milan, Italy.
HOSPITALITY LINES OF BUSINESS
Carlton's Hospitality Division provides highly sophisticated advisory services in the following areas, enabling
us to provide our clients with a targeted focused effort that results in maximum value, proceeds and terms.
 Investment Sales
 Equity Placement
 Debt Placement
 Branding Selection
 Strategic Advice
 Valuation & Loan Restructuring
 Loan Sales
 UCC Foreclosure Advisory
Four Seasons Milan
Shore Club South Beach
Milan, Italy
Miami Beach, Florida
GLOBAL INVESTOR ACCESS
We have been active in the debt & equity capital markets since 1991 and have completed approximately
$100 billion in acquisitions, financings, and recapitalizations on a wide range of asset types in virtually every
major market throughout Europe and the United States.
As such, Carlton has built significant relationships with all of the following investor groups throughout the
world.
Investment Banks
Private Equity Funds
Family Office
Life Insurance Companies
Investment Managers
High Net Worth Individuals
Commercial Banks
Sovereign Wealth Investors
Money Management Advisors
REITs
Hedge Funds
Local Owners & Operators
Pension Funds
Multi-Strategy Funds
Real Estate Companies
U.S. HOTEL TRANSACTIONS
701 Seventh Avenue
New York, NY
$815 Million Construction and Mezzanine
Loan for Billion Dollar Development of
50-Story Edition Hotel, 60,000 sf of Retail
and 125 foot LED Sign
Property Summary: Mixed-use hotel, retail and signage assemblage.
Deal Summary: Arguably, this was the premier development transaction of 2013 in
Manhattan. For this transaction, Carlton arranged the sale of the controlling interest
in the property, as well as $815 million of debt, structured equity and common
equity from a global private equity firm, NYSE REIT and two high-net worth
investors.
$525 Million Structured Debt Financing
Park Lane Hotel
Hotel & Residential
Redevelopment
New York, NY
Property Summary: Hotel and residential development in Midtown Manhattan.
Deal Summary: Carlton arranged a highly-structured financing for a prominent
New York developer for the acquisition and redevelopment of a 46-story, 600key hotel in Midtown Manhattan. The hotel will be redeveloped and rebranded
into a world-class luxury hotel with luxury residential condominiums with Central
Park views.
Shore Club South Beach
Miami Beach, FL
$300 Million Recapitalization and
Rebranding
Property Summary: The 300-key, Shore Club South Beach on Florida’s
Miami Beach oceanfront.
Deal Summary: Carlton accessed a local commercial bank, which
provided our client with great terms to facilitate the recapitalization of
this one-of-a-kind, historical oceanfront asset on South Beach.
Debt and Equity Financing
Ian Schrager’s Chrystie Street
Property Summary: Ground-up hotel and residential development in
Lower Manhattan.
Residential Tower And Hotel
Deal Summary: Carlton arranged a joint venture between two
prominent developers for the acquisition and construction of a 25story tower condominium and upscale 370-key hotel. In addition to
arranging the partnership between the iconic duo, Carlton also
arranged a high leveraged land loan to facilitate the acquisition and
predevelopment of what is sure to be one of Manhattans most
valuable residential and hospitality properties.
New York, NY
Ian Schrager /
Morgan’s Hotel Portfolio
Various U.S. CBD’s
Ian
Schrager West
Village Hotel and
Condo Development
New York, NY
$580 Million
Property Summary: A luxury boutique hotel portfolio totaling
1,516 keys, consisting of the Morgans Hotel, Royalton, the
Hudson, the Delano, the Mondrian and the Clift hotels
Deal Summary: Carlton acted as the exclusive capital advisor
for the Morgan’s Hotel Group, in which we were able to
arrange $580 million to refinance their entire luxury hotel
portfolio which consisted of the most notable boutique hotel
assets in New York, Los Angeles, Miami, San Francisco and
London.
Joint Venture Equity and Land
Financing
Property Summary: Acquisition of two vacant lots prime for
development adjacent to the West Side Highway and the Hudson
River on the West Side of Manhattan.
Deal Summary: Carlton brought in a California bank and arranged an
equity joint venture for the acquisition and development of a lifestyle
hotel and condominium in the vibrant West Village submarket.
$335 Million
Trump SoHo
New York, NY
CNL/MSREF Portfolio
Various U.S.
Property Summary: A 46-story, 391 unit luxury condominium-hotel
in the heart of the famous SoHo District of Manhattan.
Deal Summary: Carlton acted as the exclusive capital advisor for
this Donald Trump project, in which we were able to arrange the
$335 million construction and mezzanine loan financing for the
ground-up development of this luxury, 46-story, 391 unit
condominium-hotel. This 385,000 square foot project was the first
of its kind in the exclusive and highly desirable SoHo section of
Manhattan, as the neighborhood has some of the most regulated
development restrictions throughout the entire city as per its
historic nature.
$4 Billion (UCC Foreclosure Sale)
Property Summary: Portfolio of some of the finest hospitality
assets in the United States, including the Grand Wailea Resort &
Spa, the Doral Resort & Spa and the Ritz-Carlton Grand Lakes.
Deal Summary: Completed the $4 billion mezzanine UCC
foreclosure sale on behalf of Paulson & Co. and Winthrop Realty
Trust on the “CNL/MSREF” portfolio which consists of some of the
finest hospitality properties in the United States.
Extended Stay Hotels
Various U.S.
$353 Million Debt Sale of
Extended Stay Participation
Property Summary: Extended Stay Hotels is one of the largest
limited-service hotel firms in the United States.
Deal Summary: Sale of approximately $353 million in
participation interests in three tranches of the $7.2 billion ESH
capital stack. We were the lead strategic and litigation advisor to
the mezzaine-7 tranche holders and created a strategic plan
which led to the retention of a major law firm, that was
successful in obtaining a restraining order and TRO against the
borrower. This will lead to a full recovery by the mezzanine-7
tranche holders, notwithstanding a bankruptcy which was
ultimately filed.
Crowne Sterling
Portfolio
Various U.S.
$504 Million
Property Summary: Portfolio consisting of 18 Crown Sterling
Suites hotels throughout the United States.
Deal Summary: Carlton Hospitality co-head Brendan Sullivan on
behalf of its client arranged the sale of the Crown Sterling Suites
portfolio to FelCor Lodging Trust for $504 million and increasing
FelCor’s hotel portfolio to more than 100 hotel assets owned.
Exclusive Advisor to RREEF
Westin San Francisco
San Francisco, CA
Custom Hotel
Los Angeles, CA
Property Summary: A 676 key, four-star Westin Hotel in the
heart of San Francisco.
Deal Summary: Carlton exclusively represented RREEF in the
successful foreclosure sale of the 676 key Westin Hotel in San
Francisco. This asset was sold to Westbrook virtually
simultaneously to the completion of the foreclosure sale, again
confirming the power of a Carlton orchestrated event.
Los Angeles
Refinancing
Airport
Hotel
Property Summary: The 250-key, Custom Hotel adjacent to the
Los Angeles Airport.
Deal Summary: Carlton accessed a local commercial bank, which
provided our client with great terms to facilitate the
recapitalization of this one-of-a-kind, boutique hotel near Los
Angeles International Airport.
CARIBBEAN HOSPITALITY TRANSACTIONS
$245 Million
Wyndham Aruba
Palm Beach, Aruba
Property Summary: A 478-key luxury resort, spa and casino located in
the Palm Beach area on the Island of Aruba.
Deal Summary: Carlton arranged $245 million in a multi-tiered
acquisition structure consisting of a first mortgage, a mezzanine
interest and preferred equity interest enabling the asset to undergo
major renovations and be repositioned as a Westin Hotel and managed
by Starwood Hotels & Resorts.
$80 Million
Atlantica Resort
Property Summary: Upscale resort development in the Dominican
Republic.
Development
Deal Summary: Carlton arranged $80 million of equity capital for this
development site to be developed as the largest planned upscale
resort in the Caribbean, including seven villages on 2,200 acres, hotels,
homes, a mega yacht marina, private airstrip and shopping village.
Dominican Republic
EUROPEAN HOTEL TRANSACTIONS
Four Seasons Milan
Milan, Italy
Westin Valencia
Valencia, Spain
€250 Million DPO
Recapitalization
and
Property Summary: 117-key Four Seasons Hotel in Milan
Deal Summary: Carlton brought in a London based
investment management firm that enabled our client to
buy back their maturing first mortgage from one of the
top financial institutions in the world at a discount to
recapitalize one of the most iconic European hotels in a
major city.
Sale of the Westin Valencia
Hotel for Bankia
Property Summary: 5-star luxury hotel including 135
rooms in Valencia, Spain.
Deal Summary: Carlton acted as the exclusive advisor to
Bankia Hábitat and it successfully sold the company that
holds the rights to operate The Westin Valencia through a
long term leasing. The transaction was closed with the
Gerlach Family, a German Group that operates and owns
hotels.
$800 Million
The Savoy Hotel
London, UK
Property Summary: Portfolio consisting of London's finest
five-star hotel asset.
Deal Summary: Carlton's hospitality executives executed
the $800 million sale of the Savoy Group Hotel Portfolio,
consisting of The Savoy Hotel, Claridges Hotel, Connaught
Hotel and the Berkeley hotel.
€685 Million
CIGA Hotel Portfolio
Venice, Milan, Rome & Paris
Property Summary: Portfolio of five-star European hotel
assets in Rome, Venice, Milan and Paris.
Deal Summary: Carlton represented ITT Sheraton, who was
the largest hotel company in the world at the time. The CoHead of our Hospitality Division executed the acquisition on
this portfolio of some of Europe's most luxurious hotels.
Certain of the assets included the Hotel Danieli in Venice,
The Grand Hotel in Rome, The Meurice in Paris, France and
Hotel Principe Di Savoia in Milan.
The following hotel assets were all part of the $800 million Savoy Hotel Group Portfolio consisting of London's most luxurious hotels.
Savoy Hotel
Berkeley Hotel
London, UK
London, UK
Claridges Hotel
Connaught Hotel
London, UK
London, UK
The following hotel assets were all part of the €685 million CIGA Hotel Portfolio consisting of Europe's most luxurious hotels in Italy and France
Grand Hotel Plaza
Hotel Principe
Rome, Italy
di Savoia
Milan, Italy
Le Meurice Hotel
Hotel Danieli
Paris, France
Venice, Italy
CARLTON HOSPITALITY SENIOR EXECUTIVES
Howard L. Michaels, Chairman
Mr. Michaels is Owner and Chairman of the Carlton Group. Since 1990, Mr. Michaels has been instrumental in the marketing, sale
and financing of over $85 billion of commercial and residential assets through the Carlton Group and its related entities. In
addition to his responsibilities as Chairman, Mr. Michaels directs Carlton’s loan sales and debt and equity placement activities. In
this capacity, he has established a reputation as one of the nation’s foremost dealmakers, and has arranged capital for such
notable transactions as The General Motors Building, Manhattan House, 666 Fifth Avenue, and the Starrett-Lehigh Building in New
York, among numerous others. He is a graduate of American University with a BS in Business Administration.
Michael J. Campbell, Partner
Mr. Campbell has over 15 years of commercial real estate experience. Since joining Carlton in 1998, he has been integrally
involved in the structuring and procuring of equity and debt capital for over $40 billion of real estate projects around the world as
well as a senior member of Carlton’s principal business. Prior to joining Carlton, Michael spent five years at various Prudential real
estate groups including PRG, PCG and PMCC. He has extensive experience in all facets of real estate investments including:
complex equity and debt capital structuring, business origination & development, loan/REO auctions and underwriting for all
property classes. Michael has a degree in Financial Engineering from James Madison University and a master’s in Real Estate
Finance and Investments from New York University.
Kevin Swill, Chief Operating Officer
Mr. Swill oversees the day-to-day operations of Carlton, as well as plays both a key role in growing the firm’s high net worth equity
syndication business and in expanding Carlton’s investment sales division. Mr. Swill has 23 years of commercial real estate and
investment banking experience. Prior to Carlton he was the President of Westminster Capital and Kushner Properties, where he
oversaw the financing of acquisitions and recapitalizations, as well as the disposition of more than 13,000 apartments units.
Previously, Mr. Swill held positions at Merrill Lynch, CIBC, Deutsche Banc, and Citicorp/Citibank. Mr. Swill is a member of the Real
Estate Board of New York (REBNY); the National Association of Industrial Office Properties (NAIOP); and International Council of
Shopping Centers (ICSC); and is an Executive Board member on the National Multihousing Council (NMHC). Mr. Swill holds Series 7
& 63 licenses. Mr. Swill received a Bachelor’s Degree in finance and business administration from Muhlenberg College.
Brendan P. Sullivan, Managing Director & Co-Head of Hospitality Division
Mr. Sullivan has executed hospitality-related principal and advisory transactions with a market value in excess of $5.0 billion. Prior
to joining Carlton, Mr. Sullivan was President of Stephen W. Brener Associates/InterBank Brener Hospitality, where he was
responsible for the company’s three primary business lines: Investment Banking and Principal Activities; Advisory and Brokerage
Services; and Strategic Relationships. His major clients included Marriott International/Host Marriott, Ladbroke (Hilton), FelCor
Lodging Trust, Thayer Lodging Group and the Port Authority of NY and NJ, among others. Mr. Sullivan has also been the Regional
Director of the Americas for London-based Knight Frank Access and was on the Advisory Board for New York University’s Tisch
Center for Tourism and Hospitality. Mr. Sullivan began his career as an Investment Banker.
Mads R. Loewe, Director
Mr. Loewe has 10 years of global private equity and real estate experience covering both the United States and Europe. Prior to
joining the joining Carlton, Mr. Loewe specialized in the mezzanine debt and preferred equity investment in real estate assets in
key global gateway cities for one of the largest private equity fund managers in the world with over $30 billion in AuM. Mr. Loewe
is also a highly accomplished international corporate and private equity attorney, having advised on some of the largest deals in
the world while also distinguishing himself by his commitment to give back to the community, which has earned him the Empire
State Counsel nomination by the New York State Bar Association. Mr. Loewe received his MBA from the Wharton School,
University of Pennsylvania and also holds Master of Law degrees from Boston University and University of Copenhagen. Mr.
Loewe has lived and work on three continents and speaks French, Russian, Danish, Spanish, Swedish and Norwegian.
Javier Beltran, Managing Director – Head of Carlton Iberia
Mr. Beltrán is Managing Director of The Carlton Group Iberia and has more than 19 years of investment banking, real estate and
capital markets experience throughout Spain, Portugal and other European jurisdictions. Most recently, he was a Managing
Director of UniCredit Spain Investment Banking Division, and he had previously worked for UBS, Morgan Stanley and Barclays
Capital. Over his career, Mr. Beltrán has completed more than $20 billion in European transactions, including a wide spectrum of
equity and mezzanine investments and direct lending transactions. Between other many real estate and retail transactions, Javier
has worked in: the IPOs of Inmobiliaria Colonial, Ferrovial and Inditex, various syndicated loans for large real estate companies,
such as Metrovacesa and I. Colonial, and FCC’s restructuring of its real estate portfolio. He holds a PDG degree from IESE Business
School and graduated from CUNEF with a Bachelor’s degree in Business Administration & Finance.
Ignacio Otero, Director in Carlton Iberian Office
Mr. Otero is a Director of the Carlton Group based in Madrid and he has more than 12 years of real estate and corporate finance
experience in Spain, Portugal and other countries. Most recently, Ignacio was Deputy Managing Director of a Spanish real estate
quoted company and he has worked previously for ING Real Estate, Deutsche Bank Investment Banking and Merrill Lynch, in
Madrid and London. He is graduated from CUNEF with a Bachelor in Business Administration.
Clement Guy, Vice President
Mr. Guy has worked for Archon since 2006 in Paris and is an acknowledged European expert having been in the commercial
finance and acquisition business since 2004. In Archon, Mr. Guy was highly involved in the underwriting of new investment
opportunities in Europe - mostly France and Spain. He also worked within the team that has managed Whitehall’s French
commercial assets portfolio and was also responsible for the oversight of a Finnish office and retail portfolio. Mr. Guy holds a
Master of Finance from ESCP Europe business school.
Robert Mudry, Managing Director
Mr. Mudry oversees the Carlton Merchant Banking/Equity Placement and Advisory Service Groups. Mr. Mudry is a seasoned sales
and marketing professional with over 30 years of business development, capital raising and managerial skills. He has raised
billions of dollars in capital from global sources for financial institutions including, prominent hedge funds, private equity and
family offices. He has also served as advisor and provided strategic direction and financing for several listed public companies over
the last decade. He has also served as a senior executive at Salomon Brothers, Drexel Burnham, and Kidder Peabody. He has
engineering credentials from Cooper Union and holds a BS and MBA degree from New York University.
Stephen Scorgie, Managing Director
Mr. Scorgie is Managing Director and head of Carlton’s Florida office. He has over 20 years of experience securing billions of
dollars of debt and equity financing for various types of real estate as well as buying and trading loans and REO as a principal and
selling loans as a financial advisor to large financial institutions. Mr. Scorgie was involved in trading billions of dollars in assets of
varying product types for a variety of financial institutions including large banks, insurance companies and special servicers. Mr.
Scorgie has been with Carlton for 17 years. Prior to working at Carlton, Mr. Scorgie was a Director at Ocwen Financial during which
time Ocwen was recognized as the largest buyer of distressed commercial and residential loans in the market. Mr. Scorgie started
the small commercial distressed loan division and then was the head of business development.
Andrew R. Steel, Vice President
Mr. Steel has over 8 years of experience within the real estate industry including; CMBS restructuring, loan workouts,
development, and rehabilitation, project management, acquisitions, and dispositions. Mr. Steel has been intimately involved with
over $1 billion of recapitalizations and investment sales while working at the Carlton Group. Mr. Steel was previously the
Acquisition Manager with the Lubert-Adler/ Related Investment Fund where over $200 million of equity capital was invested
throughout the South East. Prior to that, he was a Development Manager for Faison where he managed the due diligence and preconstruction process for over $250 million of multi-family housing, retail and mixed use developments. Mr. Steel has earned his
BA from the University of North Florida in Economics and RE Finance and his MBA from Rollins College.
John Bralower, of Counsel
During his career, Mr. Bralower has completed over $20 billion of debt, equity, corporate finance, M&A advisory and leasing
transactions for many of the real estate and hospitality industry’s leading companies. Mr. Bralower’s positions prior to joining
Carlton include Managing Director and co-head of global real estate investment banking at Houlihan Lokey Howard & Zukin and
President of Sonnenblick-Goldman Company. Mr. Bralower is a member of the board of the Lincoln Center Corporate Fund’s Real
Estate and Construction Council and of the advisory board of Distressed Assets Reporter. He is a Trustee Emeritus of the Advisory
Board of New York University’s Tisch Center for Tourism and Hospitality and is also a member of the New York State Bar and the
Chairman of the Planning Board of the Village of Oyster Bay Cove. Mr. Bralower has been quoted and featured in industry and
mainstream publications, including the New York Times, the Wall Street Journal and the New York Observer. His speaking
engagements have included the New York University and UCLA hotel investment conferences, the NYU Real Estate finance
conference and the IH&RA Annual Congress in London.
Anthony F. Marando, Managing Director
Mr. Marando is a Managing Director in Carlton’s Equity/ Debt Advisory and Strategic Ventures Departments, responsible for the
origination and placement of large corporate and real estate related structured transactions and funds. Prior to joining Carlton, as
a veteran of the commercial real estate market for the past 30 years, he has personally originated and placed over $1 billion of
commercial real estate and corporate transactions throughout his career. He has also been a Licensed NYS Real Estate Broker
since 1983. Mr. Marando is happily married for over 21 years and is a proud father of 3 children. He is also an active member in
his local residential community. Mr. Marando is a graduate of Fordham University with a B.A. in Economics and currently
maintains Dual Citizenship in the U.S. and Italy.
Contacts
Howard L. Michaels
Chairman
[email protected]
The Carlton Group, Ltd.
560 Lexington Avenue, 10th Floor
212.545.1000
www.carltongroup.com
Michael J. Campbell
Partner
[email protected]
London
Madrid
Brendan P. Sullivan
MD & Co-Head of Hospitality Division
[email protected]
Tel Aviv
Athens
Javier Beltrán
Managing Director
[email protected]
Mads R. Loewe
Director
[email protected]
Dubai
West Palm Beach
Los Angeles
The Carlton Group is an international real estate investment banking firm with offices throughout the United States and Europe. Founded in 1991,
Carlton is a leading intermediary and advisor for asset-level sophisticated, structured equity and debt capital solutions to large property owners and
financial institutions worldwide.

Carlton Hospitality Overview

Transcription

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