Hunt Companies Inc successfully completed a merger with Centerline Holding Company.

Under the terms of the acquisition deal, Centerline will function as a subsidiary of Hunt. Through the said merger, Hunt now became the sole holder of Centerline's common shares. The deal brough Hunt's assets under management to USD24.8 billion, the report explained.

Hunt's President and Chief Operating Officer Chis Hunt said of the merger: "We are delighted to have closed this transaction, and we welcome Centerline and its employees into the Hunt family. We are excited to enter a new business in mortgage-banking and to grow what we believe to be the premier asset management platform in affordable housing." 

Hunt is a privately-owned investor, national developer, and real assets manager. The company was founded in 1947 and is presently based in El Paso, Texas. The firm has offices all over the United States and has international headquarters in London, Mexico City, and Abu Dhabi. Hunt employs over 1,200 workers in the US, the report said.

DLA Piper LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Hunt on the deal, Business Wire reported.