Andrew Farkas’s Organization Donates $120,000 to SRMC

Posted by on Jul 13, 2018

The NYC Eastern Caribbean Relief Fund Inc., co-founded by IGY Marinas, has donated $120,000 to the Schneider Regional Medical Center Foundation (SRMC). This donation will go towards medical equipment that was either lost or damaged during Hurricanes Irma and Maria.

IGY Marinas CEO and founder Andrew L. Farkas has made it his goal to help the Caribbean community recover from the natural disasters that occurred in 2017 through the NYC Eastern Caribbean Relief Fund Inc. Donations such as the one made to SRMC does just that by allocating the donation towards medical equipment.

Just as the name suggests, SRMC sees that patients receiving care at Roy Lester Schneider Hospital in St. Thomas have all of the equipment necessary for their treatment. Additionally, SRMC does the same for Myrah Keating Smith Community Health Center in St. John. In fact, both facilities remained in operation during Hurricanes Irma and Maria and are the only medical facilities on each island. This makes it detrimental that their services meet patient expectations.

Since its founding in September 2017, NYC Eastern Caribbean Relief Fund Inc. has made it its goal to raise $5 million for those affected by Hurricanes Irma and Maria. In addition to providing aide to SRMS, NYC Eastern Caribbean Relief Fund Inc. aims to help the yachting community that has also been affected by the natural disasters. Islands in the Caribbean heavily rely on local communities for goods and services, which has been difficult given the circumstances of the recent hurricanes. Companies such as NYC Eastern Caribbean Relief Fund Inc. help restore the infrastructure between locals and those in the yachting community, all the while providing food, shelter and healthcare for those affected.

By overseeing donations made to organizations like the Schneider Regional Medical Center Foundation, Andrew Farkas will ensure that Caribbean inhabitants will continue to receive care that is of the utmost quality.

Read More

Resource Capital Corporation Reflects on Accomplishments

Posted by on Jul 3, 2018

Andrew Farkas, Chairman of Resource Capital Corporation (RSO), participated in a conference call on Thursday, March 8, 2018. During this call, Andrew Farkas discussed RSO’s progress in executing a strategic plan to put RSO into a competitive progression.

This conference call focused on RSO’s Q4 earnings during 2017. In addition to explaining RSO’s strategy in 2017, Farkas also discussed the strategy’s long-term affects: “2017 commercial real estate loan originated volume was up over 300% as compared to 2016 and CMBS investments by face amount were approximately $200 million greater than 2016. We expect these investments to make meaningful contributions to core earnings in 2018.”

Andrew Farkas also reflected on RSO’s first earning call and how the efforts of this company put forth in 2017 will begin to pay off in 2018, especially RSO’s core earnings. During this call, Andrew Farkas also made sure to congratulate management on its extraordinary work. He also made a point to state the performance of RSO continues to improve.

Not only is Andrew Farkas Chairman of RSO, but he also owns several companies that are very well-known in the real estate world. These companies include Island Capital Group, C-III Capital Partners, and IGY Marinas.

Read More