Island Capital Group, controlled by Andrew L. Farkas, announced the acquisition of Centerline's institutional real estate debt fund management and commercial mortgage loan servicing businesses through its affiliate C-III Capital Partners. The transaction restructures Centerline's financial structure, eliminating $1.6 billion of debt and providing over $100 million in new cash equity. C-III will own 40% of Centerline, which remains a public company. Anubis Advisors, a subsidiary of Island Capital, will manage C-III and Centerline, applying strategies similar to those used in building Insignia Financial Group.
documents/EFTA00763458.pdf
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