Related Cap Becomes CharterMac Cap

Related Capital Co., a subsidiary of New York-based CharterMac, has changed its name to CharterMac Capital LLC, according to the parent company.Marc D. Schnitzler, president of CharterMac, said Related Capital has been a leader in affordable multifamily finance for over 30 years and that CharterMac "felt it was important to preserve the Related Capital name" for some period after it acquired the company in 2003. "After two years of successful operations as a subsidiary of CharterMac, we felt that it was the right time to change the Related Capital name to CharterMac Capital given CharterMac's unparalleled reputation as a leader in the multifamily finance industry," he said. The company also announced the launch of a newly designed website for CharterMac Capital, which can be found at http://www.chartermaccapital.com.