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Berkadia buys Cleveland-based mortgage bank

Berkadia said March 15 that it closed its acquisition of RiverCore Capital on March 4.

RiverCore Capital is a mortgage banking company based in Cleveland.It has originated about $1.5 billion in loans and acted as servicer on roughly $800million in loans.

As part of the transaction, partner Mark Vogel will transitionto the Berkadia team as a senior managing director, responsible for building thecompany's mortgage platform throughout Ohio.