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Article: MuniMae To Acquire Housing and Community Investing Unit of Lend Lease Real Estate Investments for $102 Million; Combined Company to be Called MMA Financial.
- Article from:
- Business Wire
- Article date:
- May 15, 2003
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Business Editors
BALTIMORE--(BUSINESS WIRE)--May 15, 2003
Transaction Creates Powerhouse in the Affordable Housing Industry and
Tax Credit Syndication Marketplace
Municipal Mortgage & Equity (NYSE: MMA), known as MuniMae, today announced it has agreed to acquire the Housing and Community Investing (HCI) unit of Lend Lease Real Estate Investments, a subsidiary of Australian-based Lend Lease Corporation (ASX: LLC), for a purchase price of $102 million (US) in cash. The newly formed organization, MMA Financial, will combine HCI, a market leading syndicator of low income housing tax credit equity investments with MuniMae Midland, a ...