Berkadia Commercial Mortgage LLC, a Horsham, Pa.-based commercial real estate lender and servicer, has announced its acquisition of Phoenix-based Hendricks & Partners.
With 37 offices nationwide, Hendricks & Partners encompasses more than 180 apartment professionals throughout the country. Hendricks & Partners will now operate under the name Hendricks-Berkadia, and company CEO Don Hendricks will join Berkadia's executive committee as CEO of Hendricks-Berkadia and executive vice president of Berkadia.Â
Berkadia is a a joint venture between Berkshire Hathaway and Leucadia National Corp. Warren Buffett, chairman and CEO of Berkshire Hathaway, welcomed the acquisition.
‘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,’ says Buffett. ‘We see Berkadia's acquisition of Hendricks as another significant step in the growth of their multifamily expertise and services.’