I am pleased to announce the successful acquisition of Centerline Holding Company. This transaction is significant for Hunt and I believe the Centerline platform will add a great deal of value to our business. It increases our affordable housing investment and management portfolio as well as adds new capabilities in the mortgage lending sector.
Rob Levy, President and COO of Centerline will depart. He will certainly be missed and on behalf of all of Hunt, I wish Rob the very best success in his future endeavors. Alan Fair will lead the non-mortgage lender portions of the Centerline business, including asset management, fund reporting and TEBS, and Rob Wrzosek will lead the mortgage lending division.
Over the coming months, we will be working to ensure a smooth transition for the Centerline employees. Please join me in welcoming them to the Hunt family of companies.
Chris Hunt
El Paso, TX – November 18, 2013 - Hunt Companies, Inc. (“Hunt”) is pleased to announce the successful acquisition of Centerline Holding Company (“Centerline”). Under the terms of the transaction, an affiliate of Hunt became, through a merger, the sole holder of Centerline’s common shares. Following the acquisition, Centerline will operate as a subsidiary of Hunt.
In connection with this acquisition, Hunt gains a national mortgage-banking platform offering Fannie Mae, Freddie Mac, HUD/FHA, CMBS and other debt products while servicing $12.4 billion of loans. This transaction also significantly expands Hunt’s affordable housing asset management business by adding $9.2 billion in investor equity under management in 113 funds comprised of approximately 138,000 units.
Hunt is a privately-owned investor, developer and manager of real assets headquartered in El Paso, Texas with offices across the country providing a broad range of services to public and private sector clients. This acquisition brings Hunt’s assets under management to $24.8 billion and increases Hunt’s multifamily units under management from 141,325 to 278,408.
“We are delighted to have closed this transaction, and we welcome Centerline and its employees into the Hunt family,” said Chris Hunt, President and COO. “We 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.”
Hunt was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP and DLA Piper LLP.
About Hunt
Hunt Companies, Inc. is a national developer, investor and manager of real assets. Founded in 1947 and headquartered in El Paso, Texas, Hunt has more than 1,200 employees across the United States. Together, Hunt and its affiliates have $24.8 billion in assets under management, including 278,408 multifamily units and 5.7 million square feet of office, retail and industrial properties. Hunt has also developed 89,000 housing units, over 1 million square feet of commercial space and thousands of acres of land.
Hunt has offices throughout the United States, including in Atlanta, Boston, Chicago, Columbia (SC), Dallas, Denver, El Paso, Honolulu, Los Angeles, Memphis, Miami, New York, Philadelphia, Sacramento, San Francisco and Washington D.C., and international offices in Abu Dhabi, London and Mexico City. To learn more about Hunt, please visit www.huntcompanies.com.
