New York, NY - April 26, 2012 - 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 (OTC: CLNH), announced today it
has named Michael P. Larsen the new Chief Financial Officer.
Levy, Centerline's President and Chief Operating Officer,
continued to serve as CFO when he was named and assumed the
Presidency in 2010. Mr. Levy steps down today from his
role as CFO and will remain as President and COO.
Mr. Larsen is currently the Treasurer and Director of
Corporate Finance responsible for: cash management
operations, debt management, corporate capital raising,
budgeting, management reporting and coordinating
Centerline's new business development initiatives.
In his new capacity as CFO, he continues with these
responsibilities and his role expands to include:
all treasury, corporate finance, accounting, tax and risk
functions. Mr. Larsen will continue reporting to Mr.
Levy, becomes a Managing Director and joins Centerline's
"Michael is an experienced and dedicated finance
professional who has played an instrumental role in
Centerline's ongoing success," commented Levy.
"We are pleased to announce his promotion to CFO, and
look forward to his leadership and continued growth as a key
member of the Centerline team."
Mr. Larsen now serves as a Managing Director of Centerline
and is a member of Centerline's Affordable Housing
Investment Committee. Prior to being named Treasurer in
2009, he worked for five years in Centerline's Capital
Markets and Corporate Finance groups. Mr. Larsen joined
Centerline in 2002 as a member of the Affordable Underwriting
team where he was responsible for completing underwriting and
real estate analysis for more than $800 million in low-income
housing tax credit equity investments and affordable
bond-financed multifamily assets.
"Last fall Michael was included in Real Estate
Forum's annual '40 Under 40' feature,"
continued Levy. "This prestigious honor is a
notable credit to his professional achievements and success.
We are confident he will thrive in this new role."
Prior to joining Centerline, Mr. Larsen was an analyst within
Arthur Andersen's Real Estate Consulting and Structured
Finance group, where he was responsible for underwriting and
investment analysis of a wide range of commercial real estate
assets and performed due diligence for structured asset
backed securities. Mr. Larsen earned a Master of
Business Administration from Columbia University and a B.A.
in Economics and Urban Studies from The University of
About Centerline Capital Group
Centerline Capital Group, a subsidiary of Centerline Holding
Company (OTC: CLNH), provides real estate financing and asset
management services focused on affordable and conventional
multifamily housing. We offer a range of both
debt financing and equity investment products, as well as
asset management services to developers, owners, and
investors. An industry leader, Centerline is structured
to originate, underwrite, service, manage, refinance or sell
through all phases of an asset's life cycle. A
leading sponsor of Low-Income Housing Tax Credit (LIHTC)
funds, Centerline has raised more than $10 billion in equity
across 136 funds, and invested in over 1,300 assets spanning
47 states. The firm's multifamily lending platform
services more than $11billion in loans. Founded in 1972,
Centerline is headquartered in New York City, with 244
employees in ten offices throughout the United
States. A strategic partner of Island Capital,
Centerline is organized around four business
units: Affordable Housing Equity,
Affordable Housing Debt, Mortgage Banking and Asset
Management. To learn more about Centerline, visit www.centerline.com.
### Certain statements in this document may constitute
forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on
management's current expectations and beliefs and are
subject to a number of factors and uncertainties that could
cause actual results to differ materially from those
described in the forward-looking statements. Other risks and
uncertainties are detailed in Centerline Holding
Company's most recent Annual Report on Form 10-K and
Quarterly Reports on Form 10-Q filed with the Securities and
Exchange Commission, and include, among others, business
limitations caused by adverse changes in real estate and
credit markets and general economic and business conditions;
our ability to generate new income sources, raise capital for
investment funds and maintain business relationships with
providers and users of capital; changes in applicable laws
and regulations; our tax treatment, the tax treatment of our
subsidiaries and the tax treatment of our investments;
competition with other companies; risk of loss under mortgage
banking loss sharing agreements; and risks associated with
providing credit intermediation. Words such as
"intends", "plans", "believes",
"seeks", "estimates" and similar
expressions are intended to identify forward-looking
statements. Such forward-looking statements speak only as of
the date of this document. Centerline Holding Company
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in
Centerline Holding Company's expectations with regard
thereto or change in events, conditions, or circumstances on
which any such statement is based.