Centerline, Island agreement expires; recapitalization talks proceed

By Caroline Salls

Pittsburgh, Sept. 18 - Centerline Holding Co., the parent company of Centerline Capital Group, said it is continuing discussions with Island Capital Group LLC and others to accomplish a recapitalization of Centerline, according to a company news release.

The company said the authorization agreement it entered into with Island in July expired on Sept. 15.

Since that deadline has passed, Centerline said it is advising its shareholders of its continuing discussions with multiple parties, including Island.

Centerline is a New York-based investment holding firm.

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