Carlton Advisory Services has provided EUR 30 mln refinancing of a construction loan for twin office towers, in Bucharest, Romania. The office towers are scheduled to be completed in 2011. The 46,500-m[sup]2[/sup] complex will consist of two, 18-story buildings, a three-story mall, two conference halls and a 1,000-space garage.
Carlton Advisory Services has provided EUR 30 mln refinancing of a construction loan for twin office towers, in Bucharest, Romania. The office towers are scheduled to be completed in 2011. The 46,500-m2 complex will consist of two, 18-story buildings, a three-story mall, two conference halls and a 1,000-space garage.
Carlton chairman Howard Michaels: 'This is one of many international transactions that Carlton is currently working on and confirms that there is liquidity available for quality projects. In addition, this financing confirms that there is money available for transitional projects in that we were able to obtain this financing even though the towers are not fully leased yet'.
This transaction is one of over $7 bn (EUR 4.9 bn) of closings achieved by Carlton since 2008 despite the turbulent state of the capital markets.
