Farkas Closes Deal to Buy Centerline

BY LINGLING WEI from the Wall St Journal

New York real-estate investor Andrew Farkas has closed a deal to buy Centerline Holding Co., one of the nation’s largest commercial-mortgage-servicing specialists, putting in $100 million in new equity and assuming about $180 million of Centerline’s debt.

The deal comes at a time that opportunistic investors are targeting servicers to take advantage of the carnage in commercial real estate. Late last year, a venture between Warren Buffett’s Berkshire Hathaway and Leucadia National Group bought the commercial-mortgage-servicing business from bankrupt Capmark Financial.

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[wsj.com]

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