INVESTMENT: Carlton Offers Over $300M of Multifamily, Land and Other Assets for Sale
- Mar 08, 2010
New York, N.Y.– Carlton Advisory Services Inc. has been retained to bid more than $300 million of hospitality, multifamily, office, retail and land assets, according to Carlton Chairman Howard L. Michaels. The majority of the assets are located in Florida, with the remainder located in California, Virginia, Missouri, Minnesota, Nevada, S. Carolina and Tennessee.
The event is an opportunity to acquire cash flowing hospitality, multifamily, office and retail assets, says Carlton. There are also well located and highly desirable land assets being offered which are situated in locations near major tourist destinations, according to the company.
The sale offers investors the ability to maximize value through capitalizing on the premier locations, quality construction and wide variety of high yield, says Carlton.
One of the unique aspects of the sale is that potential buyers can view the assets and bid on a first come, first serve basis through the CEX REO MLS Exchange. This Carlton-created platform allows bidders to bid on the property of their choice in a timeframe which is comfortable for investors. This is a tremendous advantage for bidders as Carlton is offering the properties individually (rather than in large, bulk packages which tend to favor institutional investors), and bidders don’t have the pressure of having to bid on large amounts of properties on tight, sealed bid timeframes.
Assets being offered include:
· Located at the entrance to the Magic Kingdom in Anaheim, Calif, major development rights to build 400 hotel/timeshare condo units within an existing master planned development with 400,000 square feet of mixed use retail, restaurant and event facilities.
· A 140-acre resort development site near the entrance to Walt Disney World Resort entitled for hospitality, residential and commercial uses in Orlando, Fla.
· A 160-unit garden style apartment community offering amenities including two pools, a laundry facility, tennis and sports court and a playground in Orlando, Fla.
· A 314-unit apartment community with three swimming pools, four laundry facilities, tennis and basketball courts in Tampa, Fla. The property is located near the University of South Florida, in a submarket which continues to show strong occupancy numbers.
· A golf and tennis resort with 593 total apartments and two 18-hole golf courses on the Shores of Lake Marion in Central Florida. In addition, there is a 100,000+ sq.-ft. convention center, golf pro shop, restaurant and bar, swimming pool and a 20-court tennis facility.
· A built, operating 500-room hotel located in close proximity to Walt Disney World Resort in Orlando, Fla.
· A 73-acre resort development entitled for retail, residential and commercial uses in Kissimmee, Fla.