Carlton business finance

Carlton Advisory Services' chairman Howard L. Michaels has announced that Carlton arranged and closed a $10.5 million mortgage for its client's refinancing of a 138-room Courtyard by Marriott, located in Santa Rosa, Ca. The property is a five-story, full-service hotel serving business and vacation travelers in the prominent wine growing/recreation area of Sonoma county.

Carlton arranged the financing on behalf of an established West Coast hotel owner/operator. Carlton executive Ruth Barone represented the borrower and placed the financing for this transaction.

The five-year, non-recourse loan was provided by a major investment bank and featured a floating rate of 350 over LIBOR with a five percent floor. The financing enabled the owner to retire existing debt at a much more favorable interest rate and terms. Carlton provided the owner with multiple financing options from qualified lenders in order to achieve the optimal debt structure for the asset resulting in lower costs and increased cash flow.