Paul Hastings Advises Centerline Capital Group in Comprehensive Restructuring

March 09, 2010

New York (March 9, 2010)- Paul, Hastings, Janofsky & Walker LLP, a leading global law firm, announced today that the firm advised Centerline Capital Group, a real estate asset management and financial services firm and subsidiary of Centerline Holding Company, in a series of debt restructuring transactions. The transactions closed on March 5, 2010.

The transactions restore Centerline to financial stability by restructuring substantially all of its outstanding debt. Centerline also sold its real estate debt fund management and commercial mortgage loan special servicing business to a C-III Capital Partners, an affiliate of Island Capital Group and recapitalized the majority of outstanding equity interest in the Company.

New York partners Alan Cohen, Mark Kreitman, Joseph Opich, Leslie Plaskon, Mark Schonberger and Michael Zuppone, led the Paul Hastings team, which simultaneously closed multiple transactions to complete the complex out of court restructuring.

Centerline Capital Group provides real estate financial and asset management services, and multifamily loan origination and servicing.

Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.