Centerline Capital Group appoints Larsen as chief financial officer

According to Centerline Capital Group, the company has named Michael Larsen the new chief financial officer. Robert Levy, Centerline's president and chief operating officer, continued to serve as CFO when he was named and assumed the presidency in 2010. Levy has stepped down from his role as CFO and will remain as president and COO. Larsen is currently the treasurer and director of corporate finance responsible for: cash management operations, debt management, corporate capital raising, budgeting, management reporting and coordinating Centerline's new business development initiatives. In his new capacity as CFO, he continues with these responsibilities and his role expands to include: all treasury, corporate finance, accounting, tax and risk functions. Larsen will continue reporting to Levy, becomes a managing director and joins Centerline's executive committee. "Michael is an experienced and dedicated finance professional who has played an instrumental role in Centerline's ongoing success," said Levy. "We are pleased to announce his promotion to CFO, and look forward to his leadership and continued growth as a key member of the Centerline team." Larsen now serves as a managing director of Centerline and is a member of Centerline's Affordable Housing Investment Committee. Prior to being named treasurer in 2009, he worked for five years in Centerline's Capital Markets and Corporate Finance groups. Larsen joined Centerline in 2002 as a member of the Affordable Underwriting team where he was responsible for completing underwriting and real estate analysis for more than $800 million in low-income housing tax credit equity investments and affordable bond-financed multifamily assets. "Last fall Michael was included in Real Estate Forum's annual '40 Under 40' feature," said Levy. "This prestigious honor is a notable credit to his professional achievements and success. We are confident he will thrive in this new role." Prior to joining Centerline, Larsen was an analyst within Arthur Andersen's Real Estate Consulting and Structured Finance group, where he was responsible for underwriting and investment analysis of a wide range of commercial real estate assets and performed due diligence for structured asset backed securities. Larsen earned a Master of Business Administration from Columbia University and a B.A. in Economics and Urban Studies from The University of Pennsylvania. 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 136 funds, and invested in over 1,300 assets spanning 47 states. The firm's multifamily lending platform services more than $11billion in loans. Founded in 1972, Centerline is headquartered in New York City, with 244 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.