By Keith Loria, Contributing Editor<\/i><\/p>\n
Hunt Cos., Inc. has completed the previously announced acquisition of Centerline Holding Co., where through a merger, an affiliate of Hunt became the sole holder of Centerline\u2019s common shares, acquiring 978,274 shares at $39.89 per share.<\/p>\n
Centerline will operate as a subsidiary of Hunt and the acquisition catapults Hunt as the No. 1 firm on the affordable housing finance list.<\/p>\n
\u201cWe are delighted to have closed this transaction, and we welcome Centerline and its employees into the Hunt family,\u201d Chris Hunt, Hunt\u2019s president & chief operating officer, said in a company release. \u201cWe are excited to enter a new business in mortgage-banking and to grow what we believe to be the premier asset management platform in affordable housing.\u201d<\/p>\n
Hunt gained a national mortgage-banking platform offering Fannie Mae, Freddie Mac, HUD\/FHA, CMBS and other debt products while servicing $12.4 billion of loans. The transaction also significantly expands Hunt\u2019s affordable housing asset management business by adding $9.2 billion in investor equity under management in 113 funds comprised of approximately 138,000 units.<\/p>\n
Centerline\u2019s Board of Trustees unanimously approved the transaction and recommended that the company\u2019s shareholders approve and adopt the Merger Agreement and the merger.<\/p>\n
\u201cWe are very pleased about this transaction and excited for the opportunities that the combination with Hunt presents for Centerline,\u201d Robert Levy, Centerline\u2019s CEO said in a company statement. \u201cThis is a very positive transaction for our employees and all of Centerline\u2019s stakeholders.\u201d<\/p>\n
Headquartered in El Paso, Texas, Hunt\u2019s assets under management now totals $24.8 billion and Hunt\u2019s multi-family units under management increased from 141,325 to 278,408.<\/p>\n
Hunt was advised by Paul, Weiss, Rifkind, Wharton & Garrison L.L.P. and DLA Piper L.L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hunt Cos. has completed the previously announced acquisition of Centerline Holding Co., where through a merger, an affiliate of Hunt became the sole holder of Centerline\u2019s common shares, which potentially makes the combined company the largest affordable housing lender.<\/p>\n","protected":false},"author":451,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004087059","post","type-post","status-publish","format-standard","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\n