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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-Tao-Maofim LLC now has in its hand the deed to 292 Madison Ave. And in junction with the purchase, Carlton Advisory Services arranged a $130-million loan on behalf of Metropolitan Real Estate Investments, one of Tao-Maofim’s partners. The financing covers 93% of the $140-milllion purchase price.

Tao-Maofim, which also includes Tao Tsout Ltd., Financial Levers 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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