In response to the European debt crisis, The Carlton Group, a US real estate investment advisory firm, has launched a global equity exchange website to provide investors with instant access to equity and debt capital as well as a central market place to review distressed loans, which financial institutions want to sell.
With the US and European markets reeling because of the debt crisis, European banks are under tremendous pressure to sell trillions of dollars in real estate loans over the next year, according to Howard Michaels, chairman of Carlton. In addition, European property owners now have a tremendous opportunity to buy their loans back at a discount, provided they have the capital to do so.
The Carlton Exchange (CEX) already has over US$2bn of listings and Michaels is projecting more than US$10bn of transaction flow over the next few months. The CEX will provide a central market place for buyers and sellers to meet to transact business.
“The CEX web platform has been built on the most powerful and popular commercial real estate listing engine in the world, enabling buyers to receive benefits they previously never had,” Michaels said. “What CEX does is create efficiency, transparency and access to capital in a marketplace which has none of these features.”
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