{"id":1003882026,"date":"2008-10-29T12:00:00","date_gmt":"2008-10-29T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/10\/29\/centerline-closes-131m-loan-package-with-fannie-mae\/"},"modified":"2022-12-06T16:51:21","modified_gmt":"2022-12-07T00:51:21","slug":"centerline-closes-131m-loan-package-with-fannie-mae","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/centerline-closes-131m-loan-package-with-fannie-mae\/","title":{"rendered":"Centerline Closes $131M Loan Package with Fannie Mae"},"content":{"rendered":"<p>Centerline Capital Group, a subsidiary of Centerline Holding Company has announced it closed the last of nine multi-family housing loan transactions. All loans were done with Fannie Mae under its DUS program on behalf of a single borrower for a total of $131 million. \u00a0Centerline provided the refinancing for a portfolio of eight South County apartment properties that allowed the borrower to pay off first and second mortgages on those properties and free up equity to acquire and complete the rehabilitation of a ninth apartment complex. The original eight multifamily housing developments included: 149 units in Torrance for $23.9 million, 103 units in Hermosa Beach for $16.8 million, 95 units in Redondo Beach for $14.7 million, 95 units in Hermosa Beach for $14.6 million, 78 units in Redondo Beach for $12.5 million, 56 units in Redondo Beach for $8.1 million, 48 units in Lomita for $5.3 million and 44 units in Long Beach for $2.6 million.\u00a0The ninth property to round out the borrower\u2019s portfolio of apartments is a 161-unit complex in a premier waterfront location in Redondo Beach. That loan, the largest so far, closed on October 10, 2008 for $32 million. \u00a0All nine properties carry the same loan terms: seven years at fixed rates, with the remaining year adjustable and pre-payable, without a pre-payment penalty any time during the adjustable rate period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Centerline Capital Group, a subsidiary of Centerline Holding Company has announced it closed the last of nine multi-family housing loan transactions. All loans were done with Fannie Mae under its DUS program on behalf of a single borrower for a total of $131 million. \u00a0Centerline provided the refinancing for a portfolio of eight South County&hellip;<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1003882026","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Centerline Closes $131M Loan Package with Fannie Mae - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/centerline-closes-131m-loan-package-with-fannie-mae\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Centerline Closes $131M Loan Package with Fannie Mae\" \/>\n<meta property=\"og:description\" content=\"Centerline Capital Group, a subsidiary of Centerline Holding Company has announced it closed the last of nine multi-family housing loan transactions. All loans were done with Fannie Mae under its DUS program on behalf of a single borrower for a total of $131 million. \u00a0Centerline provided the refinancing for a portfolio of eight South County&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/centerline-closes-131m-loan-package-with-fannie-mae\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2008-10-29T20:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T00:51:21+00:00\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/centerline-closes-131m-loan-package-with-fannie-mae\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/centerline-closes-131m-loan-package-with-fannie-mae\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1d2a393e4a57d6d45707374e94ab4fef\"},\"headline\":\"Centerline Closes $131M Loan Package with Fannie Mae\",\"datePublished\":\"2008-10-29T20:00:00+00:00\",\"dateModified\":\"2022-12-07T00:51:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/centerline-closes-131m-loan-package-with-fannie-mae\\\/\"},\"wordCount\":213,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/centerline-closes-131m-loan-package-with-fannie-mae\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/centerline-closes-131m-loan-package-with-fannie-mae\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/centerline-closes-131m-loan-package-with-fannie-mae\\\/\",\"name\":\"Centerline Closes $131M Loan Package with Fannie Mae - 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