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Centerline Provides $25M Multifamily Financing

SACRAMENTO-GlobeSt.com learns exclusively that the New York-based firm has provided funding for one property in Stockton, CA, and two others in Sacramento.

By Carrie Rossenfeld | Updated on October 31, 2012

SACRAMENTO-GlobeSt.com has learned exclusively that Centerline Capital Group has provided $25.5 million in financing for three California-based multifamily properties, one in Stockton and two in Sacramento. Centerline, a subsidiary of Centerline Holding Co., provides real estate financial and asset management services for affordable and conventional multifamily housing.

Patmon Torcello LP, a Delaware limited partnership sponsored by Charles G. Patmon III, received an $8.5-million Fannie Mae loan to finance Torcello Apartments, a garden-style multifamily facility in Stockton. The property consists of 302 units that were developed in four phases, and each phase was financed separately with four individual loans.

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