Centerline Capital Group, a subsidiary of Centerline Holding Company that provides real estate financing and asset management services, provided an $18.5 MM Fannie Mae facility to refinance the Forest Acres of Haverhill Apartments in Massachusetts. The Forest Acres property contains 410-garden apartments and includes 46 two- and three-story residential buildings. Centerline’s loan is a 10-year fixed rate facility with a 30-year amortization period and 9.5 years yield maintenance.
“Forest Acres of Haverhill Apartments is well located, as part of the greater Boston Area and Boston-Cambridge-Quincy MSA, all well performing local neighborhoods,” said Steven Cox, Senior Vice President in the Mortgage Banking Group at Centerline Capital Group. “The property is well maintained, enjoys good curb appeal and is currently 95% occupied, making this a solid deal for Centerline.”
Centerline Capital Group, also known as Centerline, is a Freddie Mac seller-servicer, Fannie Mae DUS lender, FHA-approved mortgage provider and source for other forms of alternative capital. The Mortgage Banking Group, which Steven Cox works in, offers a variety of mortgage financing options for conventional multifamily property owners.
