Berkadia, Berkshire Hathaway’s joint venture with Jefferies Financial Group, has added Senior Managing Director Sabrina Solomiany to lead Berkadia’s newest specialty group, Medical & Life Sciences.
Solomiany will sit in the Atlanta office and will report to SVP – Deputy Head of Investment Sales Mike Miner.
“We’re thrilled to add to Berkadia’s capabilities with this new specialty group, adding to our suite of expertise,” said Miner. “Sabrina brings extensive experience in the U.S. healthcare and life science sectors and will be pivotal in expanding our footprint in this highly specialized space.”
“I’m excited to join Berkadia and build a national platform focused on delivering investment sales, debt placement and JV equity solutions for healthcare and life sciences investors,” said Solomiany. “Despite current market uncertainty, significant amounts of capital continue to pour into healthcare real estate, a sector that has been historically resistant to economic downturns.”
The new Medical & Life Sciences specialty will provide a comprehensive solution for the various specialties of healthcare real estate including medical office buildings, life sciences, hospitals, surgery centers, post-acute care and behavioral health facilities.
With over 20 years of experience, Solomiany has closed $8.2 billion in total transaction volume, including $6.5 billion of healthcare and life sciences transactions that totaled more than 22 million square feet.
Solomiany joins Berkadia from CBRE where she served as First Vice President and led the Debt & Structured Finance platform for U.S. Healthcare & Life Sciences Capital Markets. Prior to that she was a Senior Director with CBRE’s U.S. Healthcare investment sales team. She specializes in providing healthcare and life sciences real estate investors with acquisition, disposition, debt placement and recapitalization strategies. Ms. Solomiany’s expertise spans various specialties of healthcare real estate including medical office buildings, life sciences, inpatient rehabilitation facilities, short- and long-term acute care hospitals, behavioral health, surgical hospitals, cancer centers, proton therapy, specialty hospitals, free-standing emergency departments, micro hospitals and urgent cares. Her clients include REITs, institutional investors, healthcare providers, developers and private capital investors.
Solomiany received her Bachelor of Science from the University of Florida.
Founded in 2009 as a 50/50 joint venture between Berkshire Hathaway and Leucadia National Corporation (now known as Jefferies Financial Group), Berkadia is a third-party commercial mortgage servicer, as well as an approved lender for Fannie Mae, Freddie Mac, and HUD/FHA.
The company is among the top Freddie Mac and Fannie Mae multifamily lenders.
Berkadia owes its origins to GMAC Commercial Mortgage Corporation, which was acquired in 2009 by Kohlberg Kravis Roberts & Co., Five Mile Capital Partners LLC, and Goldman Sachs Capital Partners. Christened Capmark Financial, the company had $10 billion of originations in 2008 and a servicing portfolio of more than $360 billion before running into bankruptcy in October 2009.
In a deal approved by the bankruptcy court, Capmark sold its mortgage loan and servicing to the newly formed Berkadia in a deal worth $515 million.
The deal brought Berkshire into the heart of the commercial loan serving business, and the company has one of the largest commercial real estate servicing portfolios.
© 2022 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.