Centerline Capital Group launches new national healthcare lending platform

Centerline Capital Group, a provider of real estate mortgage services for affordable and conventional multifamily housing, has launched a new national healthcare lending platform. The new platform will actively fund loans for the acquisition, new construction and sub-rehab of community based residential care facilities, assisted living and memory care facilities, nursing homes and special use healthcare properties. The effort will be formed under Centerline's FHA Group led by Philip Melton, senior managing director at Centerline. James Boris, director FHA loan production at Centerline, will be responsible for driving new originations for the platform. "Our new healthcare lending program will enable us to extend our services to customers that are active in multiple disciplines in the healthcare arena and expand the financing capabilities of Centerline. We are pleased to bring this new program to market and look forward to serving new customers nationwide. We are fortunate to have a seasoned professional in Jim Boris to lead our origination efforts," said Melton. Boris said, "The program will benefit the sector by providing low fixed rate, construction, acquisition, or refinancing alternatives for long-term fully amortizing, non-recourse financing. This will be coupled with shorter term proprietary bridge options for developers seeking flexibility prior to locking in long term financing." The healthcare lending platform will include three new loan structures, including Centerline Bridge Loans, HUD Section 223f/232 Acquisition & Refinance Loans, and HUD Section 232 New Construction & Sub Rehab Loans. Applicable to investors nationwide, the financing structures offer: * Highly leveraged 80% to 95% loan-to-cost ratios. * Low fixed interest rates (currently as low as 4.1%). * 35- and 40-year fully amortizing loans. * No rent control restrictions. No limitation on owner returns. Non-recourse and assumable. The Centerline Bridge Loan Program provides timely funding for quick acquisitions and repositioning of healthcare facilities that otherwise may not qualify for our HUD-Insured Permanent Financing. "We are pleased to bring this new program to market and look forward to serving new customers nationwide," said Boris.