Berkadia has acquired Central Park Capital Partners, a real estate capital advisory firm. No financial terms were disclosed. Berkadia is a joint venture of Berkshire Hathaway and Jefferies Financial Group.
NEW YORK, NY – March 5, 2018 – Berkadia today announced the acquisition of Central Park Capital Partners (“CPCP”), a boutique real estate capital advisory firm focused on arranging joint venture investments and structured capital from international and domestic institutional and qualified capital sources. CPCP’s Founder and Managing Principal Noam Franklin and Principals Chinmay Bhatt and Cody Kirkpatrick will launch Berkadia’s Structured Capital Group to offer greater support and resources to Berkadia clients. Mr. Franklin and Mr. Bhatt will be based out of Berkadia’s New York City headquarters, while Mr. Kirkpatrick will operate out of Berkadia’s Denver office.
“With our acquisition of Central Park Capital Partners, we’re redoubling our efforts to make the accessibility of joint venture and structured capital a true differentiator with new levels of personalization and customization for the mutual benefit of our clients,” said Berkadia CEO Justin Wheeler. “As the cycle matures and deal structures become more sophisticated, tapping into a wide range of joint venture capital is critical to our clients. Having worked with Noam, Chinmay and Cody on a number of successful deals, CPCP was the obvious choice for a competitive acquisition.”
“The CPCP team has deep relationships with diverse domestic and international joint venture capital sources and they share our long-term view and dedication to client service,” continued Wheeler. “With the launch of Berkadia’s Structured Capital Group, we’re truly a one-stop shop—enabling clients to take advantage of competitive opportunities in the market in a more streamlined manner and driving greater value.”
In 2018, Berkadia completed over $34 billion in combined mortgage banking and investments sales production across more than 1800 transactions.
“We’ve been working closely with the Berkadia team recently and have been impressed that they share our targeted approach to client engagement and deal execution,” said Mr. Franklin. “We have strong domestic and international capital relationships, particularly in the Middle East, Canada, Europe and Asia.”
“In joining Berkadia, we’re bringing a diverse roster of new capital sources to the table, creating enhanced joint venture matchmaking opportunities backed by best-in-class insight, technology and experience,” continued Mr. Franklin. “Considering current market conditions, owners and developers are looking beyond their traditional partners and seeking to grow their stable of joint venture funding sources in order to capitalize deals. As Berkadia’s Structured Capital Group, we’re well positioned to meet this challenge and create synergies that will drive results for all stakeholders.”
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
To learn more about Berkadia, please visit www.berkadia.com.