NEW YORK CITY – ORIX Corporation USA, a global financial services firm and subsidiary of Japan-based ORIX Corporation, has acquired Hunt Real Estate Capital, a family-owned commercial real estate investment management firm. The definitive agreement layers Hunt Real Estate Capital on top of ORIX USA offerings, including ORIX Real Estate Capital brands, Lancaster Pollard and Red Capital Group.
The move to acquire Hunt Real Estate Capital is a part of a broader initiative to build out the ORIX USA's multifamily lending platform to gain market share in the commercial real estate that sliver of the market, according to Nick Gesue, chief executive officer at ORIX Real Estate Capital.
Hunt Real Estate Capital and subsidiary ORIX Real Estate Capital combined will create a commercial real estate finance platform with an annual loan production over $9 billion and a servicing portfolio of more than $40 billion. The acquisition is expected to close in 2019 upon customary closing conditions and regulatory approvals. Acquisition costs were not disclosed.
Hunt's President and Chief Investment Officer James Flynn will assume the role of chief executive officer of the combined company. ORIX USA will leverage the company to service its business in corporate, real estate and municipal finance sectors, which has over $100 billion in assets. Overall, the firm has an estimated $400 billion of assets under management. "Geographically the organizations fit together in terms that there is no significant overlap between where we do our business in the various product types, Flynn tells Globest.com.
Hunt Real Estate Capital will join Lancaster Pollard and Red Capital, comprising ORIX Real Estate Capital. The two entities are headquartered in Columbus, Oh., and are established lenders in the senior living and health care industries, as well as a leading FHA lender and loan servicer.
"As we move forward, ORIX strong credit culture will enable us to manage credit and risk appropriately, while providing a range of services to our clients," Flynn said.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
