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$130M Aids JV's Purchase of 292 Madison

NEW YORK CITY-Carlton Advisory Services arranges the financing to cover 93% of the overall purchase price, which was $140 million.

By Melissa Kress | Updated on August 09, 2007

(Read more on the debt and equity markets.)

NEW YORK CITY-With the deed to 292 Madison Ave. in hand, Tao-Maofim LLC has teamed with Carlton Advisory Services to fund the acquisition. The $130-million loan arranged by Carlton covers 93% of the $140-milllion purchase price.

Tao-Maofim, a joint venture of Tao Tsout Ltd., Financial Levers, Metropolitan Real Estate Investments and the Marciano Investment Group, closed the deal with seller SL Green late last month. According to an SEC filing, SL Green Realty Corp. realized a gain of approximately $99 million on the sale of the 187,000-sf office property.

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