The Princeton Portfolio refinanced 14 properties, total funding $108.2 million.

Jan. 3, 2013 - PRLog -- Princeton Properties working with Centerline Capital Group successfully refinanced a portfolio of apartment properties located throughout Massachusetts and New Hampshire.  Centerline Capital Group provided a $108.2 million loan facility to refinance a 14-property multifamily portfolio.

"We are extremely pleased with the refinancing.  The exceptional terms and lower interest rates provide great benefits to our company," said Howard Reef, Chief Financial Officer of Princeton Properties.

This Princeton portfolio is comprised of 1615 apartment homes and include Colony Park, Princeton Park, Westford Park, Princeton Place, Princeton Reserve, Princeton Arbors, Princeton at Mill Pond, Princeton Westwood, Lowell Arms, Hadley Park, Imperial Gardens, 670 Princeton Blvd., Princeton at Mount Vernon and Princeton Green.  For more information about these apartment communities, please visit: http://www.princetonproperties.com  

The loan proceeds - all 10-year interest only loans - will be used to pay-off existing Freddie Mac portfolio loans for Princeton Properties, a real estate firm specializing in the acquisition, building, leasing and management of apartment homes and corporate furnished suites, currently managing more than 6,000 apartment homes in properties located throughout Georgia, Maine, New Hampshire and Massachusetts.

"The borrower is an experienced owner and operator who has successfully managed a wide variety of local multifamily properties," commented Paul Donahue, Managing Director in the Mortgage Banking Group at Centerline.  "This is a solid deal for Centerline," continued Donahue.