BOSTON- In an effort to increase the company’s New England presence, New York City-based finance and asset management firm Centerline Capital Group hired multifamily guru Paul Donahue to serve as managing director in the Mortgage Banking Group at the company’s new Boston office.
Donahue--with more than 20 years of experience in the multi-housing capital arena--was formerly an SVP at CB Richard Ellis Boston, where he managed mortgage banking and investment sales. Before that, he was managing director at HFF, where he completed debt and equity financing for multifamily housing owners. And from 1984 to 2004, Donahue worked for The Berkshire Group, where he led the production of the Berkshire Mortgage platform.
In his new position at Centerline, Donahue will specialize in the sale of financial products such as conventional multifamily agency, C-III sponsored bridge, b-note and CMBS loans, as well as other debt and equity capital executions. Donahue tells GlobeSt.com that given his contacts and relationships with institutions and pension fund advisors across the county, he will increase “substantial market share” in New England and beyond.
“Centerline has a long history of developing multifamily space, which is an area I have been developing throughout my whole career,” Donahue says. “Their activities fall within market rate housing and affordable housing, and both those involve my clients in New England and nationally. They have a strong history and thought it would be a good place to go for my career.”
As leader of Centerline’s Mortgage Banking Group, Donahue will provide oversight for conventional multifamily housing financing though Fannie Mae, Freddie Mac and the FHA. He says due to Centerline’s affiliation with Island Capital, the company “can provide clients with a whole range of solutions.”
“Boston is much like the New York market,” Donahue says. “Rents are going up and it’s been very successful. My clients are both looking to buy in New England and they are looking finance those acquisitions,” he says, noting that he is working on several refinancing transactions for New England-based clients and national ones.
Centerline also has an Affordable Housing Debt and Equity Group, and an Asset Management Group, which provides asset management to the affordable housing assets financed by the company. Centerline as a whole also plans to add two new staffers to the Boston team by 2012 as well. “I am delighted that I am starting to work with the Centerline staff and their broad history of deals,” Donahue says. “We are getting a great reception from our clients in New England with these products.”
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