Centerline Capital Group, a provider of real estate financial and asset management services for affordable and conventional multifamily housing, and a subsidiary of Centerline Holding Co., has closed on one of its first non-multifamily financings after recently re-entering the CMBS loan market. Centerline now is able to structure and offer financing for a broader spectrum of real estate asset classes. The $2.7 million CMBS loan was used for the acquisition of a 14,564 s/f single-tenant retail building located at 1501 N. Main St. The property is 100% occupied by a Rite Aid drugstore that includes a drive-thru pharmacy, one-hour photo processing, a food mart and a GNC Live Well Store. The borrower is a newly-formed, single-purpose entity. "This transaction represents an important expansion of Centerline's business - both in the sectors where we operate and the products we offer. Through our recent expansion into the CMBS loan market we can now originate loans for any commercial real estate asset class," said Robert Levy, president and COO at Centerline. "It also demonstrates our ability to be nimble when market conditions shift and seize new opportunities for our clients. The CMBS market is coming back and we are excited to be part of it again. We've recently put in place a strong, dedicated CMBS team with committed capital partners. We plan to continue to build out our platform as the market expands." "Single-tenant Rite Aid's are tricky transactions in this credit environment," noted Peter Clasquin, senior vice president, at Centerline. "This particular deal met all of our criteria: a strong buyer with a large down-payment, a long-term lease, the new building format, and proven operations at this location. We learned in the 1990's not to bet on certain tenants' credit, but a properly-structured loan on fungible real estate is the whole point of CMBS." The deal was brought to Centerline by Ryan Porter of Cohen Financial. Porter said, "Very few CMBS lenders will entertain this small of a loan, especially for a single-tenant Rite Aid. But, Centerline got it done, locking in very strong returns for my client over the next ten years. I look forward to working with them again in the near future." Centerline is a Fannie Mae DUS lender, Freddie Mac seller-servicer, FHA-approved mortgage provider and conduit and bridge lender. 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 137 funds, and invested in over 1,600 assets spanning 47 states. The firm's multifamily lending platform services more than $11.5 billion in loans. Founded in 1972, Centerline is headquartered in New York City, with 246 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.