MuniMae to Purchase Housing and Community Investing

Fine, Jacob
May 2003
Bond Buyer;5/23/2003, Vol. 344 Issue 31642, p6
Trade Publication
Municipal Mortgage & Equity LLC (MME), a Baltimore-based affordable housing financier, had announced an agreement to acquire Housing and Community Investing (HCI) from the U.S. arm of Australian real estate firm Lend Lease Corp. MME, as it is commonly known, will pay 102 million dollar for the Boston-based HCI, which provides equity financing for low-income housing by structuring and managing tax-credit investments for corporate investors, according to disclosed terms of the deal, which is expected to close June 30, 2003. The acquisition is not expected to significantly impact the largely tax-exempt nature of the dividend paid out to MME shareholders, according to the firm.


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