Centerline Capital Refinances Copper Creek Apartments
NEW YORK, NY - 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 provided a $12. 2 MM Fannie Mae facility to refinance the Copper Creek Apartments in Evansville, Indiana.
Copper Creek Apartments is a Class A garden style multifamily facility that comprises 16, two- and three-story buildings with a combined total of 291 units. The loan is a 10- year fixed rate facility with a 30- year amortization period . The loan proceeds will be used to pay off the combined existing debt and yield maintenance that will mature in 2012.
Centerline is one of the nation’s leading Mortgage Banking institutions in the multifamily sector . The borrower is a single asset, Indiana limited partnership that is led by a well- established property owner in this tertiary market, and a l...