Centerline Capital Group Refinances Three Multifamily Properties in the Baltimore Area

- Total funding equals $22 million -

New York, NY - May 1, 2013 - Centerline Capital Group ("Centerline"), a provider of real estate financial and asset management services for affordable and conventional multifamily housing, and a subsidiary of Centerline Holding Company, announced today it has provided three Freddie Mac loans that total approximately $22 million to refinance three multifamily properties in the Baltimore, Maryland area.

The loans - all cash out refinances of an existing Freddie Mac execution - were closed simultaneously for the same borrower, a Maryland limited partnership. The properties are all located northeast of Baltimore and include:

The complex is well maintained as the borrower has continued an aggressive capital improvement program on-site that included replacing all roofs from 2007 to 2011. The borrower plans to use the proceeds from the refinance to replace/upgrade the non-brick portion of the siding to vinyl.

This well maintained property underwent a complete renovation in 2010, including the replacement of the roofs, siding, and windows. Property amenities include an office/clubhouse and pool.

The property underwent a renovation in 2010, including the replacement of the roofs, siding, and windows. Property amenities include a clubhouse/leasing office and pool, which are located on Phase 2 of the property.

"The borrower is a repeat Centerline client with many years of experience developing, owning and managing multifamily real estate in the local area," commented James Kelly, Vice President, Mortgage Banking at Centerline. "This three-property portfolio represents the sixth, seventh, and eighth deals closed with the borrower, making Centerline`s total commitment $96.3 million."

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Centerline Capital Group Refinances Three Multifamily Properties in the Baltimore Area