Berkadia Commercial Mortgage LLC (Berkadia), one of the nation's leading commercial real estate lenders and servicers, has expanded its U.S. presence with the acquisition of Hendricks & Partners. The newly formed company will operate under the name Hendricks-Berkadia.
Hendricks & Partners is one of the country's largest multifamily investment sales and research firms. Berkadia Commercial Mortgage is a leading provider of capital and a highly rated primary master, and special commercial mortgage servicer. Together, Hendricks-Berkadia offers one of the first fully integrated investment banking platforms in the industry, providing a one-stop-shop for apartment owners nationwide.
Hendricks-Berkadia will continue to provide the same multifamily advisory services that Hendricks & Partners' clients have come to rely on for more than 17 years. However today they will also be able to enjoy direct access to a full menu of capital market products:
FOR IMMEDIATE RELEASE
Bliss Integrated Communication
BERKADIA ACQUIRES ONE OF THE NATION'S LARGEST MULTIFAMILY INVESTMENT SALES AND RESEARCH FIRMS, HENDRICKS & PARTNERS
HORSHAM, Pa. — January 9, 2013 — Berkadia Commercial Mortgage LLC (Berkadia), one of the nation's leading commercial real estate lenders and servicers, today announced the expansion of its U.S. presence through its acquisition of Hendricks & Partners.
With 37 offices nationwide, Hendricks & Partners' encompasses more than 180 apartment professionals throughout the country. The fi rm is regarded as a leader in U.S. apartment sales and one of the largest providers of apartment research in the country. Headquartered in Phoenix, Arizona and founded in 1995 by Chairman and CEO Don Hendricks, the fi rm has grown to become one of the largest privately held multifamily investment sales platforms in the nation. The acquisition closed on December 31, 2012.
"Our industry continues to evolve toward providing as many services as possible to our customers and we are pleased to welcome Don and the rest of the Hendricks team to our Berkadia family. In this new partnership we see tremendous opportunities to not only expand our existing client relationships with the offer of additional services, but also to build new relationships in the commercial real estate industry," said Hugh Frater, CEO of Berkadia.
"Since the company was formed back in 2009, Berkadia has been able to steadily grow its strength and presence in the commercial real estate industry," said Warren Buffett, Berkshire Hathaway Inc. Chairman and CEO. "We see Berkadia's acquisition of Hendricks as another signifi cant step in the growth of their multifamily expertise and services."
Effective immediately, Hendricks & Partners will operate under the name Hendricks-Berkadia, apartment real estate advisors, forming another major business unit next to Berkadia's loan servicing, mortgage origination and proprietary lending operations. Current Hendricks & Partners CEO, Don Hendricks, will join Berkadia's Executive Committee as the CEO of Hendricks-Berkadia and Executive Vice President of Berkadia. Hendricks-Berkadia will continue to be headquartered in Phoenix.
"We are thrilled to be joining the team at Berkadia and bring aboard our broad array of investment sales and research capabilities to their borrower and investor client bases," said Don Hendricks. "Combining Hendricks & Partners and Berkadia, the best sponsored company in the mortgage banking industry, enables us to build a fi rst-class commercial real estate platform offering a wide array of capital solutions to multifamily owners and investors nationwide."
Berkadia Commercial Mortgage LLC, a joint venture between Berkshire Hathaway Inc. and Leucadia National Corporation, is one of the most prominent lenders in the commercial real estate industry and a highly rated special, master and primary servicer managing a portfolio of more than $200 billion as of year-end 2012. As a correspondent for insurance companies and other institutional lenders and a leading approved lender for Fannie Mae, Freddie Mac and HUD/FHA, Berkadia offers clients access to capital for the acquisition, construction, rehabilitation or refi nance of multifamily and commercial real estate properties.
To learn more about Berkadia, please visit www.berkadia.com.
About Berkshire Hathaway Inc.:
Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in a number of diverse business activities including property and casualty insurance and reinsurance, utilities and energy, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
About Leucadia National Corporation:
Leucadia National Corporation (NYSE: LUK) is a diversifi ed holding company engaged through its consolidated subsidiaries in a variety of businesses, including beef processing, manufacturing, gaming entertainment, real estate activities, medical product development and winery operations.