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Article: JEN Partners to Acquire MMA Financial's Tax Credit Equity Business.
- Article from:
- Real Estate Weekly News
- Article date:
- July 17, 2009
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JEN Partners, a New York-based private equity real estate firm, announced that it has entered into a definitive agreement to acquire substantially all of the Tax Credit Equity business of MMA Financial, an operating subsidiary of Municipal Mortgage & Equity, LLC (MuniMae, OTC: MMAB). Coincident with the transaction, industry veteran Kenneth J. Cutillo will be named Chief Executive Officer of the company.
MMA Financial, based in Boston, Massachusetts, is a national leader in equity financing for multifamily apartment properties. The company aggregates, syndicates and manages portfolios of Federal and State Low Income Housing Tax Credits (LIHTC). MMA Financial has ...