Centerline refinances two Georgia properties totaling $66.5 million

Centerline Capital Group has refinanced two multifamily facilities in Georgia. Centerline invested a total of $66.5 million. The properties include: * Century Park Apartments: Centerline provided a $37.5 million loan to refinance Century Park Apartments, a garden-style multifamily property comprised of 17 three and four-story residential apartment buildings,17 parking garage/storage buildings, and a clubhouse/leasing office. The property was constructed in 2002 and contains 440 units. Century Park Apartments is located at 2110 Preston Park Dr. in Duluth. * Century Peachtree Creek Apartments. Centerline also provided a $29 million loan to refinance Century Peachtree Creek Apartments, a garden-style multifamily property comprised of 11 three and four-story residential apartment buildings, six parking garage buildings, a multi-level parking deck, a mailbox building, and a clubhouse/leasing office. The property was constructed in 2004 and contains 340 units. Century Peachtree Creek Apartments is located at 3001 Northeast Expressway in Atlanta. "The borrower is a new Centerline client; however, they are repeat Agency clients of Fannie Mae and Freddie Mac and have more than twenty-five years of experience developing, owning, operating and managing commercial real estate," said Vic Clark, managing director of originations at Centerline. "Both properties benefit from good visibility and excellent curb appeal that enhance their market competitiveness. These were two solid deals for Centerline." The property is managed by Centennial Holding Company, a privately held Atlanta based real estate investment firm that deals in the acquisition, ownership and disposition of multifamily residential properties located throughout the southern United States and operating under the Century brand. CHC is recognized as a leader within the multifamily residential market and has successfully earned a position among the elite firms in the industry. 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, bridge and CMBS lender, and source for other forms of alternative capital.