DEAL OF THE DAY: Carlton Raises $100M Equity for Nelson Management
- Feb 28, 2008
By Anuradha Kher, Online News EditorNew York–Carlton Advisory Services Inc., a New York-based real estate investment banking firm, has raised approximately $100 million of equity capital for a new investment fund on behalf of Nelson Management Group Ltd., a multifamily owner, developer and manager of middle-income rent-stabilized and Mitchell Lama multifamily properties throughout the New York City metropolitan area. The sponsor of the fund is Robert S. Nelson of Nelson Management Group.“The new fund will capitalize on the sponsor’s housing expertise, existing management team, and extensive knowledge of state and city housing policies, as well as an existing network of professional contacts and off-the-radar acquisition opportunities,” says Carlton Partner, Michael J. Campbell.“The New York metropolitan area represents a wealth of opportunities for middle-income housing owners and developers. With significant population growth, a thriving economy and a rapidly rising residential market, the fundamentals of the region have created unique and immediate opportunities for the fund,” says Michaels. Managing director, Steven E. Fenster, and partner, Michael J. Campbell executed the transaction.