Dallas-based ORIX Corp. USA on Monday announced plans to acquire New York-based Hunt Real Estate Capital, a subsidiary of Hunt Companies.
The deal is expected to close this year.
The announcement comes approximately two years after ORIX USA acquired senior living lender Lancaster Pollard Holdings, which then was combined with Red Capital to form ORIX Real Estate Capital.
“Hunt Real Estate Capital’s portfolio of products and its geographic footprint perfectly complement those of ORIX Real Estate Capital brands, Lancaster Pollard and Red Capital Group,” ORIX USA President and CEO Terry Suzuki said. “Hunt Real Estate Capital’s leadership team, combined with our existing teams, provides the expertise required to forge these three groups into a single and cohesive full-service entity.”
Upon closing, James P. Flynn, Hunt Real Estate Capital’s president and chief investment officer, will become CEO of the combined entity.
Even though they were combined to form ORIX Real Estate Capital, Lancaster Pollard and Red Capital have continued to originate business under their existing brands and maintain sector focus — Lancaster Pollard in senior living and healthcare industries, and Red Capital in affordable housing and market rate multifamily. Both are headquartered in Columbus, OH.
“This is very exciting for all of us at ORIX Real Estate Capital, as the combined companies give us one of the most well-rounded multifamily platforms in our segment of the market,” ORIX Real Estate Capital CEO Nick Gesue said.
The combination of Hunt Real Estate Capital and ORIX Real Estate Capital will create a commercial real estate finance platform with annual loan production exceeding $9 billion and a servicing portfolio of more than $40 billion, according to ORIX Corp. USA.