As of November 18, 2013, Hunt Mortgage Group was acquired by Hunt Capital Partners, Llc. Centerline Holding Company is a privately owned real estate financing and asset management holding company. Through its subsidiaries, it provides its services to multifamily, office, retail, industrial, mixed-use, and other properties. The firm provides capital solutions, including financing and investment products, to developers and owners of properties, and focuses on affordable and conventional multifamily housing. It operates through various business segments including Low-Income Housing Tax Credit (LIHTC) origination, asset management, and affordable and conventional multifamily lending, primarily a...
100 Church Street
New York, NY 10007
Hunt Companies, Inc. Names Robert A. Wrzosek as President of the Mortgage Lending Business of Centerline Holding Company
Dec 5 13
Hunt Companies Inc. announced that Robert A. Wrzosek has been named as President of the mortgage lending business of Centerline Holding Company, a recently acquired subsidiary of Hunt. Previously, Mr. Wrzosek served on the Board of Directors of Walker & Dunlop a commercial real estate finance company, and held senior leadership positions in the Agency lending and tax credit syndication businesses of Credit Suisse Securities (USA) LLC. Prior to joining Credit Suisse, Mr. Wrzosek was a partner at Eichner & Norris PLLC, a Washington, D.C. based law firm. Mr. Wrzosek will serve on several Hunt governance boards and committees.
Centerline Holding Company Reaches an Agreement in Principle to Settle a Consolidated Putative Class Action Lawsuit on Behalf of Centerline Shareholders
Sep 27 13
Centerline Holding Company reached an agreement in principle to settle a consolidated putative class action lawsuit on behalf of Centerline shareholders filed in the Supreme Court of the State of New York, County of New York, captioned In Centerline Holding Company Stockholder Litigation, Consol. Index No. 652202-2013. Three complaints were filed, E. Randolph Hille v. Centerline Holding Company, et al., Index No. 652202-2013 (filed June 21, 2013), Brad Hoffman, et al., v. Centerline Holding Company, et al., Index No. 652214-2013 (filed June 21, 2013), and Robert Bushnell v. Centerline Holding Company, et al., Index No. 652348-2013 (filed July 2, 2013). These three actions were consolidated into the Action and co-lead counsel was appointed on July 17, 2013. The Action names as defendants Centerline, the managing trustees of Centerline, Hunt Companies Inc. (Hunt), Hunt Capital Partners, LLC (Hunt Capital), and Otsego Shares LLC. The Action alleges that the managing trustees of Centerline breached their fiduciary duties to Centerline's public shareholders in approving the Agreement and Plan of Merger, dated as of June 10, 2013, among Centerline and Otsego, pursuant to which it is contemplated that Otsego will be merged with and into Centerline and Centerline will continue as the surviving entity. Plaintiffs allege that the managing trustees of Centerline breached their fiduciary duties because they failed to properly value the Company, failed to take steps to maximize the value of Centerline to its public shareholders, and agreed to terms in the Merger Agreement that favor the Hunt Defendants and deter alternative bids. The plaintiffs also allege that the Hunt Defendants allegedly breached fiduciary duties that they owed to the shareholders of Centerline. Finally, the lawsuit alleges that Centerline and the Hunt Defendants aided and abetted the managing trustees in purportedly violating their fiduciary duties. The lawsuit seeks as relief an injunction barring completion of the Merger unless and until the Company implements a procedure or process to obtain the price possible for shareholders, imposition of a constructive trust in favor of plaintiffs upon any benefits improperly received by defendants, and an award of costs and attorney's fees.