Berkadia Commercial Mortgage, the real estate venture backed by Warren Buffett's Berkshire Hathaway, acquired closely held Hendricks & Partners to expand in apartment sales and research.
Hendricks advises clients on the sale, purchase and financing of multifamily real estate through more than 30 offices.
Buffett and Leucadia National Corp. formed Berkadia, based in Horsham, Pa., in 2009, betting that the U.S. commercial real estate market would rebound.
“Berkadia has been able to steadily grow its strength and presence in the commercial real estate industry,” Buffett, 82, said in a statement.
The deal is “another significant step in the growth of their multifamily expertise and services.”
— Bloomberg News