"CSV equips Carlton with the only platform in the industry that is able to create equity, debt and joint venture solutions to the high temperature capital demands of many of today's aggressive real estate buyers," saysCarlton chair Howard Michaels. "The appointment of Abe Wallach continues the market leadership tradition we have established at Carlton and our ability to offer unique and specialized services to our clients."

With CSV, Carlton is now directly in the real estate principal business, side by side with its clients. CSV will primarily have two areas of focus--arranging effectively 100% of the debt and equity capital for real estate principal opportunities brought to Carlton by its clients and, on Carlton originated principal opportunities, the arrangement of joint ventures between Carlton and its clients, with CSV providing most of the debt and equity capital through CSV's captive proprietary sources.

CSV intends to acquire office buildings, apartment properties, hotels, portfolios of properties and mortgages when substantial discounts to value and/or replacement cost can be achieved. Through CSV, Carlton hopes to bridge the gap between hard-to-find sources of capital eager to invest in appropriate real estate investment opportunities and our clients seeking such capital. Carlton will be investing its own capital as well as capital from high net worth investors through Carlton's relationships and those of Wallach.