Carlton Hospitality Group confirms active Caribbean hospitality transaction pipeline
Carlton Hospitality Group confirms active Caribbean hospitality transaction pipeline
Feb 13, 2007
H&MM Week In Review
New York, NY (February 13, 2007) - Carlton Hospitality Group (CHG), a division of The Carlton Group, is fast becoming one of the leading financiers of Caribbean hospitality transactions, according to Chairman Howard L. Michaels and CHG President John Bralower.
Confirmation of this vibrant activity and expertise is Carlton's Caribbean pipeline of hospitality transactions, which currently exceeds over one billion dollars of equity and debt transactions, the firm said.
In 2006, CHG closed the following Caribbean hospitality transactions:
- $245 Million Acquisition Financing of the Westin Resort, Aruba - Carlton arranged financing for the acquisition and repositioning of the Westin Aruba, a 478-key luxury resort located in Palm Beach, Aruba, in an off-market transaction.
- $70 Million Equity Financing of AtlanticA, Dominican Republic - The firm arranged financing for the development of an upscale resort in the Dominican Republic. The resort will contain seven villages located on 2,200 acres along the Northeastern Dominican Coast, with over $10 billion in projected sales. CHG will also provide hospitality advisory services for the entire master-planned community.
- $50 Million Acquisition Financing for Luxury Resort and Residences, Costa Rica - Carlton arranged financing for the acquisition and pre-development of a luxury resort and residential community in Guanacaste, Costa Rica.
In addition, CHG is the exclusive advisor for the following Caribbean transactions:
- $650 Million Acquisition and Development Financing of Luxury Resort and Residences, Guanacaste, Costa Rica - Situated on the coast of the Pacific Ocean in Guanacaste, Costa Rica, the development is planned as a luxury resort community that will possess two five-star hotels, world-class spas, a golf course, and 270 residential lots and over 600 villas.
- $310 Million Acquisition and Development Financing of Luxury Resort and Residences, Puntarenas, Costa Rica - Located within an hour of San Jose, the resort is planned to have a luxury hotel, spa and residences situated on a hillside site that blends beautifully with the eco-friendly environment of Costa Rica.
- $300 Million Development Financing for Phase II and III of AtlanticA, Dominican Republic - The financing will be used to develop a 350-key luxury resort, an 18-hole signature golf course, 350 for sale residential units and a high end retail promenade, as well as a marina village.
- $200 Million acquisition and development financing of Long Bay Resorts, Anguilla - The financing will be used for development of a five star luxury resort located on 21.5 acres of pristine beachfront in Anguilla.
- $230 Million acquisition and development financing of Sugarmill Bay Resort, Antigua - The financing will be used for development of a five star luxury resort and residences located on 35 acres on a spectacular site in Antigua.
- $49 Million Acquisition Financing, Dominican Republic - The financing will be used for the acquisition of a newly built 21-story, 228-key, business hotel located adjacent to Malecon Center, a mixed-use complex for retail shopping, cinema, and commercial office space.
Carlton's Hospitality Group (CHG), a division of Carlton Advisory Services, specializes in the arrangement of debt and equity financing for lodging and mixed-use real estate projects which contain a hospitality component.
CHG also provides advisory services on the acquisition and disposition of existing properties, on issues relating to the branding of and selection of operating partners for new development projects, as well as the repositioning of existing assets. The CHG has closed several billion dollars of lodging and mixed use transactions involving residential, condominium, extended stay and fractional components, as well as resorts located throughout the continental US, Hawaii, Mexico and the Caribbean.
Carlton Advisory Services, Inc. is a national real estate investment banking firm prominent in debt and equity placement, investment sales, and commercial and residential loan sales. Its clients include some of the most active developers and institutions both nationally and in the New York metropolitan area. Founded in 1991, Carlton has consummated in excess of $30 billion of transactions since 1998.
Contact: Michelle Manoff/ Rubenstein PR/ 212-843-8051/ mmanoff@rubensteinpr.com
http://www.hotelmotel.com/hotelmotel/article/articleDetail.jsp?id=404559
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