Resource Credit Income Fund, also known as the Fund, released its quarterly distribution from the end of 2017 earlier this year. Resource America, Inc. is owned by C-III Capital Partners LLC, which is owned by Andrew L. Farkas. Andrew Farkas is a leader in the real estate in commercial industry, and even owns other well-known companies such as Island Capital Group (ICG).
The Fund reported a distribution of 6.3% as of December 31, 2017. More specifically, the quarterly distribution was $0.175 per share. Altogether, there has been a total return of 24.3% between April 17, 2015 and December 31, 2017.
Although past performance typically doesn’t indicate future performance, Resource America, Inc.’s growth and overall worth has been impressive this past year. This can be seen in the fact that C-III Capital Partners, LLC obtains $8.7 billion in debt assets and real estate.
As CEO of both C-III Capital Partners and Resource America Inc., Andrew Farkas is constantly investing in new opportunities that will allow these companies to growth as reported by the Fund. Examples of how he has achieved this are with his acquisitions of property throughout the country, whether it be commercial or real estate.
Resource America Inc. has obtained 17,000 multifamily units across 20 different states. Platforms include nationally recognized real estate companies like Resource Real Estate and Resource Capital Corporation. Liquid alternatives include Resource Real Estate Diversified Income Fund and Resource Credit Income Fund.
Andrew Farkas currently serves as Chairman and CEO of both C-III and Resource America Inc., the latter of which he also serves as President. Andrew Farkas’ push for success is evident in the positions he currently occupies in both companies. He will continue to see that C-III and Resource America Inc. see steady growth in the upcoming year.
C-III Capital Partners and NAI Merin Hunter Codman just secured an office building located in Sunrise, Miami. This acquisition was finalized at $19 million in October 2017.
The office building, named International Place II, is located at 1580 Sawgrass Corporate Parkway. It was previously owned by Realty Associates Fund VIII, a company based in Boston, Massachusetts. The property was built in 2000 and has several modern features including impact glass windows and an updated common area. International II itself is located on a 7.4-acre lot in the Sawgrass International Corporate Park.
The office park currently consists of well-known companies such as Ford, Fidelity Information Systems, AT&T, American Express, Harris Corporation, Xerox, and TicketMaster. A warehouse was purchased in 2015 from a medical equipment manufacturer. It is currently unclear what C-III Capital Partners has planned for International II.
C-III Capital Partners owns properties around the country in various cities, including New York, Denver, and Dallas. The purchase of International II solidifies both C-III and Andrew Farkas’ long-term goal of being an industry leader in the world of real estate. Already a philanthropist and strong supporter of various charities, Andrew Farkas continuously strives to do what is best for his company and other organizations. The purchase of International II reaffirms C-III and Andrew Farkas’ gratitude for being able to help other communities thrive and prosper.
Derek McLane, a Tony and Emmy award-winning designer, will receive the Order of the Golden Sphinx Award at The Hasty Pudding Institute of 1770’s 2018 gala, scheduled to take place on April 16. Andrew L. Farkas, a renowned leader in the real estate industry, is the Chairman of this Institute. Founded in 1795, the Hasty Pudding Institute is the comedy and satire performing arts organization located at Harvard University.
Andrew Farkas remarked on Derek McLane’s talent in the following statement: “Whether you’ve encountered Derek’s work on a Broadway stage or at this year’s Oscars, you’re sure to have seen it. And so we are privileged to present the Hasty Pudding Institute of 1770’s highest honor, The Order of The Golden Sphinx, to Derek McLane, a man who creates the striking visuals and impressions that stay with us long after a show ends.”
Not only is Andrew Farkas Chairman of the Hasty Pudding Institute, but his family is also a sponsor of the organization. In addition to the Hasty Pudding Institute, Andrew Farkas is also involved with Playwrights of New York (PONY).
Andrew Farkas is additionally well-known across the nation for his roles as CEO of Island Capital Group, C-III Capital Partners, Resource America Inc., and Anubis Advisors. All four real estate companies are dedicated to managing a diverse group of real estate services throughout the nation through the leadership of Andrew L. Farkas.
The Hasty Pudding Institute is excited for this year’s Order of the Golden Sphinx Award recipient, Derek McLane, to receive this honor at the Institute’s 2018 gala.