Hunt Companies, Inc., a developer, investor and manager, has completed its acquisition of Centerline Holding Company.
Centerline — a company that provides financing and asset management services focused on the multi-family market – will operate as a subsidiary of Hunt. The acquisition gives Hunt 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 deal 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.
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.
Chris Hunt, president and COO, said, “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.