Hunt Companies, an El Paso-based conglomerate with more than 7,000 employees nationwide, has reached a deal to sell one of its subsidiaries to Japanese-based ORIX Corporation.
The companies announced Monday that ORIX Real Estate Capital had entered into an agreement to buy Hunt Real Estate Capital. The sale is expected to close by the end of the year.
Headquartered in New York City, Hunt Real Estate Capital employs more than 250 people in 25 locations across the country, including an office in El Paso. It services a commercial portfolio of more than $16 billion in loans.
The sale “will not impact local staffing, and no one will be moved,” a Hunt spokesperson said in an email.
Hunt Real Estate Capital’s “growth, demonstrated success and ultimate sale to ORIX is a testament to Hunt’s strategy to deploy capital into best-in-class operating businesses, real estate assets and infrastructure assets that benefit from Hunt’s capital resources and 70-year history as an owner and operator of real assets,” the company said in a news release.
Among the company’s notable deals is providing $59.6 million in financing to the Housing Authority of the City of El Paso for the rehabilitation of affordable housing in the region.
James P. Flynn, Hunt Real Estate Capital’s president and chief investment officer, will helm the combined entity, which will have an annual loan production of more than $9 billion and a servicing portfolio of more than $40 billion, according to the news release.
“Our goal is to be a premier national commercial real estate lender,” Flynn said in a statement.