Hendricks & Partners Gets New Name, National Backing
by March 4, 2013 12:00 am 130 views
Hendricks & Partners, a multifamily sales and research firm with offices in Fayetteville and Little Rock, has been acquired by Berkadia Commercial Mortgage LLC, a joint venture between Berkshire Hathaway Inc. and Leucadia National Corp.
The new firm began operating as Hendricks-Berkadia on Jan. 9, and provides buyers and sellers of multifamily properties in Arkansas a “one-stop shop,” said associate Hunter Buwick, who maintains office space in downtown Fayetteville.
“Our main business has been brokerage, specifically for multifamily apartment complexes,” Buwick said. “This deal allows us not only to broker deals, but also offer financing options and access to capital.
“There’s no other firm in Arkansas that has the tools and national platform that we have.”
Before the acquisition, Buwick worked as part of Hendricks & Partners’ Central South region, headed by Aaron Hargrove. According to a news release announcing the acquisition, Hargrove and Buwick sold 10,942 units and negotiated five land transactions over the last five years.
In a separate release, Berkshire Hathaway chairman and CEO Warren Buffett said Berkadia “has been able to steadily grow its strength and presence in the commercial real estate industry” since its formation in 2009.
“We see Berkadia’s acquisition of Hendricks as another significant step in the growth of their multifamily expertise and services,” Buffett said.