ALPHARETTA, Ga. - Lahaina Acquisitions Inc. announced Tuesday that it would buy Cross Keys Capital LP of Hershey, Pa.
The price of the deal, which would usher Lahaina into traditional mortgage banking, was not disclosed.
A key to the deal is Cross Keys' $20 million warehouse line for construction financing, said Lahaina, which runs a multistate brokerage organization through its Accent Mortgage Services and Accent Mortgage Group units.
Accent's loan officers would have an opportunity to market construction financing for residential properties, Lahaina said.
"We are excited by our initial step into the mainstream mortgage banking business," said Scott Demerau, chairman and chief executive officer of Lahaina. "Originating loans using a warehouse line is clearly the next step in the evolution of our mortgage operations."