American Mortgage Acceptance Corporation
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American Mortgage Acceptance Corporation is a commercial mortgage real estate investment trust (REIT) that is managed by Centerline Capital Group. It provides commercial real estate first mortgage, mezzanine and bridge financing to real estate developers and owners.
American Mortgage Acceptance began July 1, 1999 trading on the American Stock Exchange (now known as the New York Stock Exchange Alternext US LLC) under the symbol AMC. On November 11, 2008 it was delisted from this exchange, along with its 7.25% Series A Cumulative Convertible Preferred Shares, and now trades over the counter on the pink sheets under the symbol AMOA (common shares) and AMOP (preferred shares).
To compound any confusion, American Mortgage Acceptance uses the abbreviation AMAC.
Its management company is a subsidiary of Centerline Holding Company (OTC: CLNH). They provide both fixed rate and floating rate loans, and short term and long term financing. Donald J Meyer is currently chairman.
The delisting of its stock shares probably reflects the effect the subprime mortgage mess has had on American Mortgage.
Next: Capital Alliance Income Trust -- nonconforming home loan mortgages in California
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