Berkadia Commercial acquires Capmark’s loan origination and servicing business

Dec 14, 2009 (Datamonitor via COMTEX) -- Berkadia Commercial Mortgage, a newly formed entity owned by Berkshire Hathaway and Leucadia National Corporation, has completed the acquisition of Capmark Financial Group's North American loan origination and servicing business.The sale includes a servicing portfolio of more than $240 billion as well as leading Fannie Mae, Freddie Mac, the Federal Housing Administration, life insurance company correspondent lending and asset management operations.Michael Lipson, head of global services and loan originations, and a member Capmark's executive team since 1996, has been named as president of Berkadia and will continue to lead the business. Berkadia's board of directors will include two representatives from each of Berkshire Hathaway and Leucadia National. Berkadia is in the process of hiring more than 1,000 of Capmark's approximately 1,500 current employees.Warren Buffett, CEO of Berkshire Hathaway, said: "We are optimistic about the prospects for the loan origination and servicing businesses. We are impressed by the existing management team and will support them in positioning Berkadia to take advantage of opportunities created by the ongoing dislocation in the commercial real estate industry."http://www.datamonitor.comRepublication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon