KeyCorp - Leucadia - Bank of America Deal

[Parsad]

KeyCorp has acquired BAC's commercial servicing portfolio and will be sub-servicer to Berkadia as well.  No numbers given other than the assets.  Cheers!

 

http://www.fool.com/investing/general/2013/05/10/keycorp-to-acquire-commercial-mortgage-assets-from.aspx

[jay21]

Imagine how more tantalizing a "Berkshire - Bank of America - Leucadia" thread title would look.  I would be thoroughly disappointed if this article appeared in a thread like that.  Good job tempering my excitement by using KeyCorp as the first company.

[thepupil]

There is a LOT of value hidden in Berkadia and while they may be over-earning as a result of the boom in multifamily refinancing being fueled by Ginnie, Freddie, and Fannie, they are also positioning themselves for a different rate environment.

 

If anyone wants to learn a little more about the Agency CMBS market and Berkadia's role therein, feel free to PM me.