NEW YORK, NY - Centerline Capital Group (“Centerline”), a provider of real estate mortgage services for affordable and conventional multifamily housing, announced today it has provided a $6,260,000 Fannie Mae loan to facilitate the refinance of CaSienna Apartment Homes.
CaSienna is a 160-unit garden apartment complex located in central Orlando about five miles southwest of the CBD and six miles northwest of the Orlando International Airport. The property was originally developed in 1973, acquired by current ownership in 2011 and substantially renovated. The complex has 16 buildings and two pools. A newly constructed management office and clubhouse are the center focal point of the property.
“The sponsor has significant experience in central Florida and has successfully purchased, renovated and managed a number of assets over the past 20 years,” said Bill Hyman, Senior Managing Director at Centerline. “We were pleased to provide this loan to a first-time Centerline client, and we expect to partner with them again in the near future.”
The loan was closed by Centerline’s Chicago office. 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 and source for other forms of alternative capital.
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. Centerline’s 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 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, Centerline is headquartered in New York City, with 159 employees in 13 locations throughout the United States. To learn more about Centerline, visit www.centerline.com