CENTERLINE RESTRUCTURES DEBT FOR TWO APARTMENT COMMUNITIES

EAGAN AND BLOOMINGTON, MINN. — Centerline Capital Group has restructured the bond credit enhancement for two affordable housing communities located in Minnesota. In addition to restructuring $36 million in tax-exempt and taxable bond debt, Centerline provided an additional $8.14 million in supplemental loan financing. Both loans were funded through Centerline’s Fannie Mae DUS platform. Thomas Lake Pointe Apartments, located in Eagan, received a $4.11 million supplemental loan, and Bristol Village Apartments, located in Bloomington, received a $4.03 million supplemental loan. The borrowers in both transactions are affiliates of Dominium Group, which established separate limited partnerships for each transaction. Robert Walsh of Centerline led the team that arranged the restructurings and supplemental loans.