The Real Deal New York

National Market Report: Warren Buffett bets on Cleveland, foreign spending could wane in Seattle … & more

April 04, 2016 02:06PM
By Farah Halime


From the April issue: Investor mogul Warren Buffett has placed a bet on Cleveland. His New York-based company, Berkadia Commercial Mortgage, which is part of Berkshire Hathaway, has entered the Ohio city’s real estate market by snapping up mortgage-banking firm RiverCore Capital, according to The Plain Dealer, the local newspaper. The terms of the deal were not disclosed. RiverCore Capital, a small firm that has arranged financing for major downtown projects including the Flats East Bank development, a 23-acre waterfront apartment development, is part of Berkadia’s expansion plan, according to Justin Wheeler, chief executive officer at Berkadia. [more]