Buffett Unit Complete Capmark Acquisition

12-15-2009 | Source: Total Securitization

Berkadia Commercial Mortgage has completed it acquisition of Capmark Financial Group’s North American loan origination and servicing business. Berkadia, the joint venture of Warren Buffett’s Berkshire Hathaway and Leucadia National Group, bought Capmark’s servicing portfolio of more than $240 million—said to be the third largest in the country—as well as its Fannie Mae, Freddie Mac, Federal Housing Administration and other operations. As part of the reported $468 million deal, Berkadia said it will hire more than 1,000 of Capmark’s 1,500 employees.