Carlton chairman Howard L Michaels has formed an international investment sales team to provide investment sales services to its worldwide clientele.
The investment sales group will focus on Manhattan and other major cities throughout the US and Europe.
Assignments of USD100m or greater will be the focus of the investment sales division.
Joining Michaels (pictured) on the investment sales team will be Carlton Hospitality president John Bralower. 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 USD100bn 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 EUR100m 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.
The purpose of formalising the international sales team is to provide the marketplace with a highly aggressive, sophisticated independent investment sales option to sellers who are looking to maximise proceeds through Carlton’s 24/7 work ethic, access to its international relationships and its 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.
In addition, Michaels and Carlton regularly raise close to 100 per cent of the purchase price by partnering some of New York’s largest property owners with capital providers to facilitate acquisitions and recapitalisations.