Hunt Companies to Acquire Minority Interest in Northeast Firm

Hunt Companies Inc., headquartered in El Paso, will acquire a minority interest in Pennrose Properties LLC, a multifamily property developer in Philadelphia. As part of the interest, Hunt will secure a long-term interest in Pennrose’s future development activities, while Pennrose will assume responsibility and oversight for a substantial portfolio of projects in Hunt’s pipeline.

Pennrose Properties, LLC and Hunt Companies, Inc. are both privately-held firms with expertise in multifamily affordable and mixed-use public private partnership development projects across the U.S. Collectively, the firms, including their affiliate companies, are responsible for more than 300 mixed-finance/mixed-income projects touching more than 40,000 units of housing across the U.S.

“This agreement expands the working relationship between Hunt and Pennrose,” said Hunt’s CEO, Chris Hunt. “We are looking forward to combining our abilities and expertise to further grow our portfolios and continue to serve our partners in mixed-income housing projects.”

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