New York, NY- Paul Hastings LLP, a leading global law firm, announced today that the firm is representing Centerline Holding Company, provider of real estate financing and asset management services focused on affordable and conventional multifamily housing, in connection with its agreement entered into on June 10, 2013 to be acquired by an affiliate of Hunt Capital Partners, LLC, the affordable housing division and an affiliate of real estate company, Hunt Companies, Inc. (“Hunt”).
Under the terms of the merger agreement, an affiliate of Hunt will acquire through a cash out merger all of the outstanding common shares of Centerline not already owned by Hunt for cash consideration of $39.89 per share. In April 2013, an affiliate of Hunt acquired 978,274 of Centerline’s common shares, approximately 41% of the common shares outstanding. Hunt will pay $56 million of merger consideration for the shares it does not own, valuing Centerline at $95 million.
The merger is currently expected to close in the third quarter of 2013.
Michael L. Zuppone, chair of the Securities and Capital Markets practice group led the Paul Hastings team, which also included M&A partner Luke P. Iovine and associate Nicole LaMontagne. Paul Hastings LLP is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.