News

I am pleased to announce that Hunt has entered into an agreement with the Housing Authority of the City of El Paso (HACEP) for a public-private partnership to pursue tax credit financing for 188-unit mixed income project here in El Paso. This project will be mixed income/mixed use community on the East side of El Paso which will include a mixture of public housing, affordable housing and market rate units as well as a retail component. Hunt successfully responded to a Request for Qualifications issued by HACEP for a development partner in the public-private partnership. Hunt’s selection and subsequent agreement is a great testament to our affordable housing, tax credit and financing capabilities. It will also serve to bolster our already impressive P3 experience in a differentiated product sector. Robin Vaughn

On Friday, Hunt closed the transaction to acquire Capmark’s Affordable Housing portfolio. It is a significant transaction that nearly doubles our affordable housing portfolio. The Capmark portfolio is ideal for Hunt because we have the existing capabilities and infrastructure to effectively manage this platform. The disciplines and technologies that are involved in the affordable housing and bond sector match up well with the existing skill sets at Hunt. The expertise required is not commonly found alongside a strong balance sheet, as well as the ability to analyze, understand and increase value in this asset class. Hunt brings all of that to the table. We are working diligently now to ensure a smooth transition as we integrate Capmark into the Hunt family. Alan Fair, Managing Director for Hunt Capital Partners

The sale of the ABQ Uptown shopping center to Simon was a significant accomplishment and a profitable transaction for Hunt. We are almost complete with a decade-long development program in the Uptown area of Albuquerque. As we have done in the past, we built these private sector market rate developments with the intention of selling them upon completion. Now that this large sale has been completed, we have additional capital to reinvest in the many new and exciting ventures underway throughout the corporate umbrella. In this difficult economic environment, the successful operation and sale of a sophisticated asset like ABQ Uptown demonstrates the extraordinary capabilities of many departments within our company. From asset management and accounting to the construction department, everyone played a key role in this success. Now that ABQ retail and the Loft apartments have been sold we only have 7 acres of prime land to develop or sell. Currently the TARGET Corporation is under contract to purchase the land and build a multi story urban concept at this site. This unique concept, would be the only one of its kind in New Mexico and only the 12th one in the nation. We are also pursuing various other projects in the Albuquerque area and New Mexico. Jim Dobbie, Sr. Vice President Hunt Development Group L.P.

Dear Employees, I am pleased to announce that we have successfully closed the transaction with Pinnacle to assume responsibility for BLB Privatized Housing LLC, AETC II Privatized Housing LLC, and Falcon Group. This transaction involves 13 military projects and a total of over 8,000 homes on military installations at Columbus Air Force Base, Mississippi; Goodfellow Air Force Base, Texas; Laughlin Air Force Base, Texas; Maxwell Air Force Base, Alabama; Randolph Air Force Base, Texas; Vance Air Force Base, Oklahoma; Barksdale Air Force Base, Louisiana; Langley Air Force Base, Virginia; Bolling Air Force Base, District of Columbia; Moody Air Force Base, Georgia; Patrick Air Force Base, Florida; Little Rock Air Force Base, Arkansas; and Hanscom Air Force Base, Massachusetts. Hunt, through this transaction, will have an ownership interest in 33,980 homes within MHPI. Of those, Hunt will now directly manage 15,581 units through its integrated full–service approach to project management and operation, effectively doubling the size of our property management operations. Over the past year we have been strategically planning this move and have devised transition plans so that we are well positioned to successfully take over these properties in a seamless way. We have added experienced leadership to the property management team and have been implementing processes and procedures to ensure that the Hunt standard is properly executed. As we move forward, we are also committed to retaining all existing Pinnacle employees and transitioning them to Hunt employees, provided they meet application criteria such as background checks and drug screening. We anticipate the official transition to take place July 1. Please join me in congratulating the Hunt Military Communities team on this outcome and welcoming the new employees that are part of this transaction. Robin Vaughn

Dear Employees: The diversification and growth of Hunt Companies, Inc and its affiliates over the last several years has created a need for a comprehensive and strategic Corporate Communications effort. We believe Brenda Christman’s previous work experience and educational background make her an ideal candidate to lead this initiative and we’re excited to have her on board. If you haven’t done so already, please feel free to stop by and welcome Brenda to Hunt – she has already hit the ground running and we’re excited about the new strategic initiatives she’ll be implementing in the next six months. Sincerely, Josh Hunt