CharterMac Rebrands Itself as Centerline

CharterMac, a New York-based lender, investor, and manager of capital for the real estate industry, has announced the renaming of the company as Centerline Holding Co. and of its wholly owned subsidiary, CharterMac Corp., as Centerline Capital Group.Centerline Holding will continue trading on the New York Stock Exchange under the symbol CHC, and the company's other subsidiaries, including Centerbrook Financial, ARCap REIT Inc., CharterMac Mortgage Capital, and CharterMac Capital, will operate under the unified brand name, Centerline Capital Group. "Over the past 15 months, we completed several major transactions that transformed our company from a firm focused mainly on affordable and multifamily housing to a full-service real estate finance and investment company," said Marc D. Schnitzer, chief executive officer and president of Centerline Capital. He said CharterMac had concluded from a rebranding process that it is "critical to operate as one company." Also announced was a new organizational structure consisting of four business groups: affordable housing, commercial real estate, credit risk products, and asset management. Centerline can be found online at http://www.centerline.com.