Joint venture brings Carlton to China

Real Estate Weekly,  May 7, 2008  

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Carlton Group's chairman Howard L. Michaels announced that Carlton, leading real estate investment bank, has formed a joint venture with Stanley and Partners, a Shanghai, China-based investment banking powerhouse that specializes in structured equity finance and private placement, investment sales, project fund management, research and appraisal consultancy, and asset management.

This joint venture with Stanley is part of Carlton's strategy in expanding its global access and influence in the global capital markets and real estate community, the firm said. Carlton's business has become more international and its partnership with Stanley will enable the firm to do a much better job of accessing overseas equity for domestic projects and fulfilling clients' desire to invest abroad, Carlton said.

In addition, with the present CMBS dislocation and credit crunch, Carlton is seeing an increasing number of overseas investors looking for domestic investments in the U.S., as real estate returns are now much greater than what they had been the last few years, the firm said.

Carlton said it met Stanley in conjunction with two hospitality and casino transactions which the firm presently is capitalizing in Macau. Stanley has become a partner in those deals and is helping Carlton capitalize these transactions with local capital in the Far East. Over one half billion dollars in additional transactions are in the pipeline, Carlton said.

Carlton recently has opened an office in Tel Aviv, plans to open an office in London and is close to finalizing a similar venture with an investment banking firm in India, the firm said. 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.

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