New York, NY — August 6, 2012 — 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 (OTC: CLNH), announced today it has hired a team of small loan professionals in Irvine, California. The new team will be led by Ana Ramos (formerly Woods) and will originate small multifamily loans in California.
The Small Loan Division is part of Centerline’s national mortgage banking platform which has been a leading multifamily lender for many years. The Small Loan Division provides loans between $1 and $5 million, with an average loan size of $1.8 million. The group is headquartered in Irvine, California under the direction of Rick Warren. The new team includes:
» Ana Ramos joins Centerline as Senior Vice President and Regional Director and will oversee the new California-based small loan team. Ramos is a seasoned Fannie Mae DUS lender with more than 15 years in the industry. For the past eight years she was with Greystone, most recently serving as Managing Director leading their West Coast production office, which funded approximately $200MM a year in new loans. Earlier in her career, Ramos held positions with Berkshire Mortgage Finance, ARCS Commercial Mortgage Company and Community Corporation of Santa Monica.
» Karla Borbon comes to Centerline from Greystone where she was Relationship Manager, responsible for originating Fannie Mae multifamily transactions. She joins the Centerline team as Vice President. Karla brings eight years of experience in key relationship management, process training, and a strong business development track record. Prior to Greystone, Borbon was an underwriter at ARCS Commercial Mortgage Company.
» Jonathan Lawyer joins the new Centerline team as Underwriting Associate. Before coming to Centerline, he was a Production Analyst at Greystone. Prior to Greystone, Jonathon interned at Countrywide Financial Corporation while completing his B.S. in Finance at San Diego State University.
“Centerline established its Small Loan Division approximately two and a half years ago to address the specific financing needs of smaller properties and has been steadily growing the platform ever since to meet current market demand,” commented Warren. “We are thrilled to announce the latest additions to our team in California. Ana, Karla and Jonathan are seasoned finance professionals with solid experience in sourcing and originating small multifamily transactions. They will be instrumental in our continued growth.”
About Centerline Capital Group
Centerline Capital Group, a subsidiary of Centerline Holding Company (OTC: CLNH), provides real estate financing and asset management services focused on affordable and conventional multifamily housing. We offer a range of both debt financing and equity investment products, as well as asset management services to developers, owners, and investors. An industry leader, Centerline is structured to originate, underwrite, service, manage, refinance or sell through all phases of an asset’s life cycle. A leading sponsor of Low-Income Housing Tax Credit (LIHTC) funds, Centerline has raised more than $10 billion in equity across 137 funds, and invested in over 1,600 assets spanning 47 states. The firm’s multifamily lending platform services more than $11.5 billion in loans. Founded in 1972, Centerline is headquartered in New York City, with 246 employees in ten offices throughout the United States. A strategic partner of Island Capital, Centerline is organized around four business units: Affordable Housing Equity, Affordable Housing Debt, Mortgage Banking and Asset Management. To learn more about Centerline, visit www.centerline.com
Certain statements in this document may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Other risks and uncertainties are detailed in Centerline Holding Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission, and include, among others, business limitations caused by adverse changes in real estate and credit markets and general economic and business conditions; our ability to generate new income sources, raise capital for investment funds and maintain business relationships with providers and users of capital; changes in applicable laws and regulations; our tax treatment, the tax treatment of our subsidiaries and the tax treatment of our investments; competition with other companies; risk of loss under mortgage banking loss sharing agreements; and risks associated with providing credit intermediation. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements speak only as of the date of this document. Centerline Holding Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Centerline Holding Company’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.