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NEW YORK CITY-An overseas family investment group has hired the Carlton Group's CSV Investment Management due to a 1031 exchange need. Headed by Edward C. Yu, the firm has formed a new investment management group that will advise on the purchase of up to $270 million in two to three transactions.

The group is in the process of identifying trophy assets and A-credit, net-leased offices with long-term leases in major-market CBDs. The minimum purchase price is in the neighborhood of $100 million, preferably unencumbered with restrictive debt.

The Carlton Group recently expanded its business lines to include real estate investment management, advising on both 1031 exchanges and direct investments on behalf of its client base. Prior to joining Carlton, Yu was an investment manager with Starwood Capital, Koll Investment and AEW Capital Management.