NEW YORK CITY-Centerline Capital Group is growing its affordable housing debt product team with the addition of several new members. The appointments are all part of Centerline’s continuing commitment to the affordable housing industry and spring from changes in how easily debt can be acquired, newly-appointed managing director Phil Melton tells GlobeSt.com.

“One of the biggest things that Centerline saw is that over the last two years there has been a very disjointed market in the affordable housing space,” Melton says. “There was a dearth of capital when Fannie and Freddie both left the market from an equity perspective. Debt was becoming very difficult to get and it was very challenging.”

Melton will lead the debt originations team and will operate out of Centerline’s Dallas office. Also new to the debt product team are senior VPs Karen Dubrosky in Minneapolis and Cindy Hannon in Atlanta.