The Carlton Group Secures $55M in Acquisition Financing for Hotel Portfolio in Carolinas

by Camren Skelton

NEW YORK — The Carlton Group has arranged approximately $55 million of equity and debt for a 511-room hotel portfolio acquisition in North and South Carolina. Comprising five hotels branded by Marriott, IHG and Choice flags, the portfolio is located in North Myrtle Beach, S.C., and the North Carolina metros of Charlotte, Gastonia, Goldsboro and Wilmington. Michael Campbell, Steven Weiss and Steven Fenster of Carlton secured a roughly $36.5 million first mortgage and $8 million of preferred equity from a West Coast wealth manger, as well as $9 million of common equity from an undisclosed investor. The undisclosed hotel manager also invested capital along with the sponsors.

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