Berkadia Commercial Mortgage LLC has announced the appointment of Hugh F. Frater as chief executive officer of the company, effective Thursday, Aug. 12, 2010. Frater succeeds Michael I. Lipson, who is leaving the organization. Berkadia is a highly rated master, primary and special loan servicer and a top-tier commercial real estate loan originator. Berkadia acquired the North American commercial real estate loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009. Headquartered in Horsham, Pa., Berkadia’s loan origination and servicing platforms have been major industry participants for more than 15 years.
Frater joins Berkadia from Good Energies Inc., a multibillion euro, global, private investor in renewable energy where he was chief operating officer, managing director and senior advisor. Prior to joining Good Energies Inc., Frater was executive vice president at PNC Financial Services Inc., where he led the real estate division. He also served as chief executive officer of Midland Loan Services, PNC’s loan servicing and software development subsidiary. Prior to joining PNC, Frater was a founding partner and managing director of BlackRock Inc., a publicly traded investment manager.
“I am very excited to join Berkadia," said Frater. "I am looking forward to managing and growing an established industry leader. This is a time of challenge and opportunity in commercial real estate, and I am eager to see how we can capitalize on it."
Frater holds an MBA degree in finance from the Columbia University School of Business and a bachelor’s degree from Dartmouth College.
For more information, visit www.berkadia.com.