Berkadia acquires Hendricks
Phoenix-based Hendricks & Partners, multifamily investment banking and research company, has been acquired by Berkadia Commercial Mortgage LLC of Horsham, Pa., a joint venture of investment giant Berkshire Hathaway and Leucadia National Corp., a major U.S. holding company with diverse investments. Aaron Hargrove, partner who heads Hendricks & Partners' Tulsa office, said the new firm is called Hendricks-Berkadia.
“The acquisition brings substantial new resources to our work negotiating acquisitions and sales of investment-grade multifamily properties,” Hargrove said. Since joining Hendricks five years ago, Hargrove and Associate Partner Tim McKay have sold 10,942 apartment units and negotiated five land transactions.
Hudiburg plans remodeling
Hudiburg Nissan and Hudiburg Subaru Used Car Supercenter at Interstate 240 and Shields Boulevard will be remodeled this spring while continuing to buy and sell vehicles. Demolition begins this weekend, but business will continue throughout the renovation. The new center will comparable in size, but with a more effective building layout. The new store is expected to reopen in May 2013, said Brad Smicklas, general manager of Hudiburg Nissan and Hudiburg Subaru.
Saratoga hires new chief
Saratoga Roofing & Construction, 209 NW 132, is growing and has hired Jason Nowell as chief operating officer. He has 14 years of management experience in commercial construction and spent five years as a commercial general contractor managing more than $120 million in projects. Saratoga also hired Jon Brazeal as operational excellence manager and Richard McKuhen, a former commercial roofing company owner in Florida, as national service and metal manager.
The company was named the Metro 50 winner in 2012 by the Greater Oklahoma City Chamber of Commerce for being the fastest-growing privately held company to central Oklahoma. Saratoga was also named 207th on the Inc. 500/5000 list. CEO Chris Green said Saratoga has outgrown the building it moved into in May and has bought land for expansion.
Company announces settlements
Lender Processing Services Inc., Jacksonville, Fla., said it has entered into settlement agreements with attorneys general of 46 states, including Oklahoma, and the District of Columbia. The settlement includes a payment of $127 million, resolves inquiries surrounding the company's default operations, including former document preparation, verification, signing and notarization practices of certain operations. The company previously announced settlements of similar inquiries with the states of Missouri, Delaware and Colorado.