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MuniMae Completes Sale of Low Income Housing Tax Credit Business

Oct 15 2009

Municipal Mortgage & Equity, LLC (OTC: MMAB) ("MuniMae" or "the Company,") today announced the successful completion of the second and final closing in the sale of substantially all of the low income housing tax credit (LIHTC) business operated by its subsidiaries MMA Equity Corporation and MMA Financial TC Corp., to an affiliate of JEN Partners, LLC.

JEN Partners is a New York-based private equity real estate firm, substantially in accordance with the terms outlined in the press release issued by the Company on July 31, 2009.

Source: http://www.munimae.com/

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