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Article: United States: JEN Partners and Real Estate Capital Partners Announce Acquisition of MMA Financial's Tax Credit Equity Business.
- Article from:
- TendersInfo
- Article date:
- July 31, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: shiv03
JEN Partners, LLC a New York-based private equity real estate firm, today announced the completion of the first closing in the acquisition of substantially all of the Tax Credit Equity business of MMA Financial, an operating subsidiary of Municipal Mortgage & Equity, LLC (MuniMae, OTC: MMAB). The company has been renamed Boston Financial Investment Management, LP (Boston Financial) and industry veteran Kenneth J. Cutillo has been appointed Chief Executive Officer of the company.
The transaction, valued at approximately $31 million, is financed by equity contributed by JEN Partners, LLC and Real Estate Capital Partners, LP, a ...