HORSHAM, PA-Loan servicer Berkadia Commercial Mortgage namedHugh Frater as its new chief executive officer, replacing MichaelLipson. Frater's term as chief executive begins on Thursday.
He comes to the post from Good Energies Inc., a firm thatinvests in renewable energy, where he was chief operating officerand a managing director. Prior to that he led the real estatedivision of PNC Financial Services. Also at PNC, he was chiefexecutive officer of its Midland Loan Services unit. The search wasspear-headed by Darin White, a senior client partner atKornFerry.
Berkadia was formed in December after Warren Buffett's BerkshireHathaway acquired Capmark Financial Group's loan origination andservicing divisions. At the end of June, Berkadia originated$117 million for a portfolio of 19 senior-housingfacilities across the country.
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