Centerline Capital Group has moved its small loan group operations into Texas with the hire of Charlie Cole as its regional director.
, who is operating out of Centerline's
Dallas mortgage banking unit, will originate and underwrite loans between $1 million and $5 million for multifamily investments in the U.S. central region.
says that Irvine, CA-based Centerline Capital Group
, a subsidiary of Centerline Holding Co. in New York City, opened a small loan group lending practice in Big D because multifamily assets throughout Texas and contiguous states are showing positive trends.
"Occupancies right now in this region are at a ten-year high," Cole tells GlobeSt.com.
"We're starting to see initial signs of rent growth, which, in turn, makes properties easier to finance."
It also makes investors more willing to buy.
"We're seeing more out-of-state borrowers coming back into Texas markets," Cole
says, adding that the number of refinances in the region is also on the rise.
Cole comes to Centerline Capital Group from his previous job as senior commercial lending officer from Apartment Bank.
As part of that job, Cole
spearheaded the initial roll-out of that company's multifamily lending program.
Cole also worked with Imperial Capital Bank in Dallas as a senior commercial lending officer.
In addition to hiring Cole
to handle the central region, Centerline Capital Group
is bringing two underwriters on board to help roll out the program.
has a great reputation in the area," Cole comments.
"It's already been successful in completing Texas loans from originators in other states.
This program is well-suited for the current market."
Posted inCenterline Capital Group | TaggedCenterline, Charlie Cole, Texas | Comments Off
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