Centerline Refinances North Side Buildings

CHICAGO—The Centerline Capital Group, which provides asset management for affordable and conventional multifamily housing, has just completed a seven-property cash out refinancing for seven properties located throughout three Chicago neighborhoods: East Village/Wicker Park, Wrigleyville and Rogers Park. The owner is a local investor, a single-asset limited liability company. All seven loans are Fannie Mae facilities that total $10.5 million.

“The borrower is highly successful local investor with more than 40 years of experience owning and managing multifamily real estate,” said Peter Margolin, senior vice president in the Mortgage Banking Division at Centerline. “The borrower needed to quickly refinance these seven properties that were coming up on their loan maturity dates. We were pleased these loans came together so well and were able to deliver on each of these financings simultaneously.”