Centerline Capital Group Officially Renamed Hunt Mortgage Group

New York, NY — July 28, 2014 — Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today that it has been renamed Hunt Mortgage Group, completing the firm’s transition to Hunt Companies, Inc. Centerline was acquired by Hunt in late 2013. Centerline’s asset management and tax credit syndication businesses were transitioned to Hunt earlier this year.

Hunt is a privately-owned investor, developer and manager of real assets headquartered in El Paso, Texas. With over 1,200 employees, Hunt provides a broad range of real estate services to both public and private sector clients.

“The acquisition of Centerline was extremely beneficial to Hunt as it enabled us to add a national mortgage-banking platform and significantly expand our affordable housing asset management business at the same time,” noted Woody Hunt, Chairman and CEO of Hunt Companies. “The transition of the Centerline entity and its extensive capabilities has been a smooth and natural process.  “Re-naming the firm marks the final stage of transition into the Hunt family of companies.”

Hunt Mortgage Group works with developers, owners and investors to provide capital to develop, acquire or redevelop their real estate assets.  The firm is one of a select few agency lenders nationally with $10.4 billion of loans in its mortgage servicing portfolio (as of 6/5/14).   The firm is a Fannie Mae DUS lender, Freddie Mac Program Plus Seller Servicer, FHA approved MAP Lender and GNMA issuer, financing a wide range of properties including student housing, manufactured housing, cooperatives, and affordable rental housing. In addition, Hunt Mortgage Group offers CMBS, bridge loans and select joint venture equity products. The firm has 145 employees in 14 locations throughout the United States.

“Being a part of Hunt affords us access to additional capital and a wider variety of skill sets that will enable the expansion of our current offerings,” commented Robert Wrzosek, President of Hunt Mortgage Group.  “My goal is to provide a full suite of lending products that includes all types of commercial real estate properties, making us one of the top financial service providers in the industry.”

Since Wrzosek joined the firm in late 2013, Hunt Mortgage Group has launched three new products, including the creation of a lending program for senior housing/healthcare properties, a multifamily bridge loan program, and a small loan portfolio lending program.

Hunt Mortgage Group’s conventional multifamily mortgage banking team is led by William Hyman, Senior Managing Director, and the affordable multifamily housing debt unit is managed by Philip Melton, Senior Managing Director.

“During the past six months our focus was on integrating into Hunt while serving the needs of our customers.  Over that time we were able to introduce additional services for our clients,” added Wrzosek. “Renaming the firm Hunt Mortgage Group signifies our becoming part of the larger Hunt enterprise and the ability to offer even more expansive services and real estate opportunities.”

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About Hunt
Hunt Companies, Inc. is a national developer, investor and manager of real assets providing a broad range of services to public and private sector clients. Founded in 1947 and headquartered in El Paso, Texas, Hunt has more than 1,200 employees. Together, Hunt and its affiliates have $26.3 billion in assets under management, including 271,770 multifamily units and 5.2 million square feet of office, retail and industrial properties. Hunt has offices throughout the United States, including Atlanta, Boston, Chicago, Columbia (SC), Dallas, Denver, El Paso, Honolulu, Los Angeles, Miami, New York, Philadelphia, Sacramento, San Francisco and Washington, D.C., and international offices in Abu Dhabi, London and Mexico City. To learn more about Hunt, please visit www.huntcompanies.com.
About Hunt Mortgage Group
Hunt Mortgage Group provides real estate financing solutions for conventional and affordable multifamily housing throughout the United States.  Hunt Mortgage Group is organized around two business units: Mortgage Banking and Affordable Housing Debt.  Under the Mortgage Banking and Affordable Housing Debt businesses, Hunt partners with developers, owners, and investors to provide them with capital to develop, acquire or redevelop their real estate assets.  Hunt’s core debt products consist of Fannie Mae, Freddie Mac, or HUD/FHA financing.  In addition, through several strategic alliances, Hunt offers various CMBS executions for multifamily and other commercial properties, bridge loans and select joint venture equity products.  Today the firm’s lending platform manages and services more than $10.4 billion in loans, of which affordable housing makes up $916 million.   Founded in 1972, Hunt Mortgage Group is headquartered in New York City, with 145 employees in 14 locations throughout the United States.  To learn more about Hunt Mortgage Group, visit www.huntmortgagegroup.com.

GlobeSt.com: Multifamily Portfolio Gets $25M Refi

A group of local investors has secured $25.3 million in Fannie Mae loans through the refinance of a six-property multifamily portfolio in Los Angeles. The borrower plans to use the proceeds from the loan to fun future investments in the L.A. area.

PR Buzz: Centerline Capital Group Facilitates the Acquisition of a Multifamily Property in Housto

Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today it has provided a $19.2 million Fannie Mae conventional loan to facilitate the acquisition of Wynhaven at West Oaks, an apartment complex located in Houston, Texas.

Centerline Capital Group Refinances Six Multifamily Properties in Los Angeles, California

New York, NY — June 23, 2014 — Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today it has provided a $23.5 million Fannie Mae credit facility to refinance a six-property multifamily portfolio.  All of the properties in the pool are located in Los Angeles, California.

Proceeds from the loan will be used to fund future investments.  The loan terms are 10-year term, 30-year amortization with five-year interest only. The borrower is a group of local real estate executives with decades of multifamily ownership and management experience that together currently own multiple properties in the Los Angeles area.

“The borrowing entity and its principals has been a very active in investing in multifamily properties in the Los Angeles area,” commented Rick Warren, Managing Director at Centerline. “This was a complex deal that called for all six properties to be closed as one pool.  What else can we add about the complexity of the deal?

“The strength of the sponsors and underlying real estate fundamentals made this a good deal for Centerline,” added Warren.  “We were pleased that the loan structure came together so well.”

The properties in the portfolio include:

»     8916 Burnet Avenue.  Centerline provided a $5.5 million loan to refinance 8916 Burnet Avenue.  Located on the northeast corner of Burnet Avenue and Rayen Street in a residential area, this property is a multi-family residential complex comprised of four, two-story apartment buildings with a total of 52 units. Property amenities include a pool, and a small playground including a climbing system and a slide. Parking for vehicles is provided on asphalt pavement, within tuck under parking spaces, open spaces and carports.

»     8926 Burnet Avenue.  Located on the east side of Burnet Avenue between Nordhoff Street and Rayen Street, 8926 Burnet Avenue is located in a residential area and is a multi-family residential complex comprised of eight, two story apartment buildings with a total of 61 units.  This property was refinanced for $5.5 million.  Property amenities include an in-ground, outdoor swimming pool and laundry rooms located on the first floor in one of the buildings.  Parking for vehicles is provided on asphalt or concrete pavement within tuck under parking spaces and open spaces.

»     9237 Van Nuys Blvd.  Centerline provided a loan in the amount of $4.9 million for the refinance of this property. Located on the west side of North Van Nuys Boulevard in a multifamily residential area, 9237 Van Nuys is a multifamily residential complex comprised of one, two-story apartment building totaling 52 units.  On-site parking is available via a subterranean garage under the building.

»     11120-22 Arminta Street. Centerline provided a $2.7 million loan to refinance 11120-22 Arminta Street.  Located on the south side of Arminta Street in a residential area, the property is a multifamily building comprised of one, two-story apartment building that houses 27 units.  Parking for vehicles is provided on asphalt pavement and within tuck under parking spaces under the building.

»     1215-25 N. Cherokee Ave. 1215-25 N. Cherokee Ave is a residential complex comprised of two, three-story apartment buildings totaling 40 units.  It is located on west side of Cherokee Avenue in a multifamily residential area. Parking is available via on concrete pavement and basement parking garages. A loan in the amount of $4.3 million was provided for the refinance.

»     6729 Cleon Avenue. Refinanced by Centerline for $2.4 million, 6729 Cleon Avenue is located on the west side of Cleon Avenue in a mixed commercial and residential area just south of the Burbank Airport. The property is a residential use building comprised of one, two-story apartment building totaling 32 units. Property amenities include an in-ground swimming pool and a laundry room is located on the ground floor of the building. Parking for vehicles is provided on asphalt pavement and within tuck under parking spaces under the apartments.

The broker on the deal was Brian D. Weisberg, Principal of Commercial Realty Consultants, Inc.  Commenting on the deal Weisberg said, “Without Ana Ramos and the entire team at Centerline, we would not have been able to complete the refinance of this six building portfolio.  Not only was Centerline able to accommodate each and every request by the borrowers as well as secure large discounts on pricing, they also closed the transaction six calendar days after rate locking, three of which were over the Memorial Day weekend.”

Centerline employees involved in the deal include Ana Ramos, Irma Olguin, Janine Soto, Kim Caldwell and April Swan-Rosney.

The Mortgage Banking Group at Centerline provides mortgage financing for conventional multifamily properties throughout the United States. Centerline is a Fannie Mae DUS lender, Freddie Mac seller-servicer, FHA-approved mortgage provider, bridge and CMBS lender, and source for other forms of alternative capital.

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About Centerline Capital Group
Centerline Capital Group, a real estate finance company, provides financing and investing for conventional and affordable multifamily housing throughout the United States. Centerline is organized around two business units: Mortgage Banking and Affordable Housing Debt. Under the Mortgage Banking and Affordable Housing Debt businesses, Centerline partners with developers, owners, and investors to provide them with capital to develop, acquire or redevelop their real estate assets. Centerlineʼs core debt products consist of Fannie Mae, Freddie Mac, or HUD/FHA financing. In addition, through several strategic alliances, Centerline offers various CMBS executions for multifamily and other commercial properties, bridge loans and select joint venture equity products. Today the firmʼs lending platform manages and services more than $10.4 billion in loans, of which affordable housing makes up $916 million. Founded in 1972, Centerline is headquartered in New York City, with 161 employees in 14 locations throughout the United States. To learn more about Centerline, visit www.centerline.com.
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Centerline Capital Group Finances a Portfolio of Multifamily Properties in Northern California

New York, NY — June 19, 2014 — Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today that it has provided $120,000,000 in Fannie Mae financing for a portfolio of multifamily properties located in Northern California.

The loans have ten year terms and are interest-only for the duration of the loan.

“The Borrower is a financially strong, seasoned multifamily investor with a long term relationship with Fannie Mae,” noted Adam Leiden, Vice President at Centerline.  “The properties are in good condition and are located in the Bay area which is enjoying strong occupancy and rent growth.”

“We were pleased to deliver rapidly on the loans which were provided in 49 days from application to closing,” added Richard Olrich, Managing Director at Centerline.  The Centerline deal team included: Adam Leiden, Richard Olrich, Blanca Terrazes, Vanessa Howes and Stephanie Kwok, who were all instrumental in closing the transactions.

The Mortgage Banking Group at Centerline provides mortgage financing for conventional multifamily properties throughout the United States. Centerline is a Fannie Mae DUS lender, Freddie Mac seller-servicer, FHA-approved mortgage provider, bridge and CMBS lender, and source for other forms of alternative capital.

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About Centerline Capital Group
Centerline Capital Group, a real estate finance company, provides financing and investing for conventional and affordable multifamily housing throughout the United States. Centerline is organized around two business units: Mortgage Banking and Affordable Housing Debt. Under the Mortgage Banking and Affordable Housing Debt businesses, Centerline partners with developers, owners, and investors to provide them with capital to develop, acquire or redevelop their real estate assets. Centerlineʼs core debt products consist of Fannie Mae, Freddie Mac, or HUD/FHA financing. In addition, through several strategic alliances, Centerline offers various CMBS executions for multifamily and other commercial properties, bridge loans and select joint venture equity products. Today the firmʼs lending platform manages and services more than $10.4 billion in loans, of which affordable housing makes up $916 million. Founded in 1972, Centerline is headquartered in New York City, with 161 employees in 14 locations throughout the United States. To learn more about Centerline, visit www.centerline.com.
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Yahoo!Finance: Centerline Capital Group Refinances a Multifamily Property in Kennewick, Washington

Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today it has provided an FHA loan in the amount of $2.7 million to refinance Quail Ridge Apartments, a multifamily property located in Kennewick, Washington.

MHNOnline: Robert Wrzosek: Centerline to Expand Range of Financing Products

Centerline Holding Co.’s acquisition by the developer Hunt Companies Inc. encourages the financing company to broaden its offerings to the full suite of financial products, including bridge, mezzanine and potentially, equity. In February 2014, MHN/CPE spoke to Robert Wrzosek, president, Mortgage Banking, of Centerline Capital Group, regarding what’s ahead for Centerline.

The News Funnel: Centerline Capital Group Facilitates The Acquisition Of A Multifamily Property In Houston

Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today it has provided a $19.2 million Fannie Mae conventional loan to facilitate the acquisition of Wynhaven at West Oaks, an apartment complex located in Houston, Texas.

multifamilybiz: Centerline Capital Group Facilitates the Acquisition of a Multifamily Property in Houston, Texas

Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today it has provided a $19.2 million Fannie Mae conventional loan to facilitate the acquisition of Wynhaven at West Oaks, an apartment complex located in Houston, Texas.

GlobeSt: Centerline Capital Finances NorCal Portfolio

Although details still remain mum, GlobeSt.com has learned that Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, has provided $120 million in Fannie Mae financing for a portfolio of multifamily properties located in Northern California.