STRONG and ABOVE AVERAGE Rankings for C-III Asset Management LLC

C-III Asset Management LLC records ABOVE AVERAGE rankings in the category commercial primary and multifamily housing revenue bond servicer from Standard & Poor’s Ratings Services.  In addition, it was ranked STRONG as a commercial mortgage special servicer. According to the rating service, these rankings are stable and will not be subject to change in the near future.

C-III Asset Management LLC received its name on March 5, 2010, when C-III Capital Partners LLC, an affiliate of Island Capital Group, which was founded in 2003 by Andrew Farkas, acquired Centerline Servicing Inc. – the former name of the limited liability corporation. A consequence of the transaction was a split of Centerline in two entities. C-III examines the revenue bonds associated with the LIHTC portfolio, provides servicing, asset management and fund management for ARCap’s historical business line. Centerline Holding Co. works under CharterMac historical business lines by creating low-income housing tax credits (LIHTC) and offering agency lending.

Another result of the acquisition is the elimination of any financial constraints Centerline encountered before, which also allows them to further investment in servicing and fund management as well as to keep key personnel and to hire new asset managers in special servicing and REO management. The terms of the purchase require C-III senior management to executive management in the wholly owned subsidiary of Island Capital Group, Anubis Advisors. With this setup Anubis will offer general, restructuring, and strategic advisory services to C-III.