Berkadia adds $2B to servicing portfolio

A joint venture of Berkshire Hathaway (BRK.A, BRK.B) and Leucadia National (LUK), Berkadia Commercial Mortgage purchases Phoenix-based Keystone Commercial Capital, which has mortgage banking offices in Boston and San Diego, as well as its hometown.

Keystone co-founder Charlie Williams will continue to run the company.

Berkadia is third-largest commercial and multifamily mortgage servicer, with a portfolio of over $229B as of March 31. It was created by Berkshire and Leucadia from the ashes of bankrupt Capmark Financial Group in 2009.

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Comments (3)
  • Michael Bryant
    , contributor
    Comments (6915) | Send Message
    $229B joint venture... Doesn't this say that (BRK.B) is undervalued.
    28 May 2014, 08:33 PM Reply Like
  • Paul Wagner
    , contributor
    Comments (3891) | Send Message
    Michael...I don't see the connection between the size of the mortgage servicing portfolio and BRK.B's valuation.
    9 Jun 2014, 10:26 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (6915) | Send Message
    (BRK.B) is $151B, about 65% of $229B. How much of those assets are from (BRK.B)?
    10 Jun 2014, 12:01 AM Reply Like
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