Centerline Capital Group’s Hires Jeffrey J. Ballaine in Mortgage Banking Unit
New York, NY — March 27, 2013 — Centerline Capital Group (“Centerline”), a provider of real estate financial and asset management services for affordable and conventional multifamily housing, and a subsidiary of Centerline Holding Company, announced today it has hired Jeffrey J. Ballaine for its Mortgage Banking Group.
Ballaine was hired as a Vice President reporting to Richard Olrich, Managing Director at Centerline. He will be based in Seattle and will source and originate loans in Washington, Idaho, Montana, Alaska and Wyoming. In addition, Ballaine will cover the Oregon market jointly with Centerline’s San Rafael, California office.
“Jeff is a seasoned financial service executive with a solid background originating and closing deals in the commercial real estate market,” said Olrich. “We are thrilled he has joined our team. Jeff will be focused on the Pacific Northwest and will greatly extend the depth, knowledge and geographic reach of our mortgage banking capabilities in the region.”
Prior to joining Centerline, Ballaine was a Loan Officer/Vice President in the Income Property Group at Washington Federal in Seattle. Earlier in his career, Ballaine held positions with Homestreet Capital in Seattle and State Street Bank & Trust in Boston.
Ballaine earned Masters in Real Estate and Construction Management from the University of Denver, and a BA in Economics from Colby College.
The Mortgage Banking Group at Centerline provides mortgage financing for conventional multifamily properties throughout the United States. Centerline is a Fannie Mae DUS lender, Freddie Mac seller-servicer, FHA-approved mortgage provider, bridge and CMBS lender, and source for other forms of alternative capital.
About Centerline Capital Group
Centerline Capital Group, a privately held real estate finance and asset management company, provides financing, investing and asset management services for affordable and conventional multifamily housing throughout the United States. Centerline is organized around three business units: Mortgage Banking, Affordable Housing Debt and Affordable Multifamily Housing. Under the Mortgage Banking and Affordable Housing Debt businesses, Centerline partners with developers, owners, and investors to provide them with capital to develop, acquire or redevelop their real estate assets. Centerline’s core debt products consist of Fannie Mae, Freddie Mac, or HUD/FHA financing. In addition, through several strategic alliances, Centerline offers various CMBS executions for multifamily and other commercial properties, bridge loans and select joint venture equity products. Today the firm’s lending platform manages and services more than $12.2 billion in loans, of which affordable housing makes up $3.1 billion. A leading sponsor of Low-Income Housing Tax Credit (LIHTC) funds, Centerline’s third business focuses on identifying and investing in affordable housing properties and managing those assets as a fiduciary for the fund investors throughout the asset’s and fund’s lives. Since inception, the firm has raised more than $10 billion in equity across 137 funds, and invested in over 1,600 assets spanning 47 states. Founded in 1972, Centerline is headquartered in New York City, with 221 employees in fourteen locations throughout the United States. Centerline is a strategic partner of Island Capital Group, a real estate merchant banking group headquartered in New York. To learn more about Centerline, visit www.centerline.com.