This past month, Resource Capital Corp. announced that it will provide a quarterly cash dividend to its shareholders for Q3 of 2017. The company is managed externally by Resource Capital Manager Inc., a subsidiary of C-III Capital Partners, where Andrew Farkas serves as Chairman and CEO.
The board of directors made the announcement on September 19th, declaring that the stock would yield a $0.05 cash dividend per common share. The dividend will be paid on October 27, 2017 to all shareholders with record of the stock as of September 29, 2017. This marks the fourth consecutive quarter during which Resource Capital Corp paid shareholders this dividend.
Resource Capital Corp., which has offices based out of both New York and Philadelphia, is a real estate investment trust. It focuses primarily on providing and managing commercial mortgage loans, as well as other debt investments related to the real estate industry. It has been a publicly traded company since February of 2006, and was acquired by the Andrew Farkas subsidiary in late 2016.
Resource Capital is one of many real estate subsidiaries under the umbrella of Island Capital Group, of which Andrew Farkas serves as Chairman and CEO. There he has successfully guided deals in the commercial real estate industry, where he has over thirty years of corporate experience. Throughout his career, he has been instrumental in the development of many successful firms, all the while maintaining active philanthropic roles in other organizations.
As a part of the world’s leading real estate network, NAI Horizon is constantly making new purchases for clients. The Arizona-based real estate company made an exciting acquisition this month. Represented by Senior Vice President Mark Wilcke, they purchased a manufacturing building at the Stellar Airpark in Chandler for nearly $2 million.
Wilcke represented East Valley Precision of Gilbert, a business specializing in computer numerical control milling, grinding, and waterjet cutting. Their business focus is on machining steel, aluminum, titanium, plastics, and other materials. East Valley Precision is aiming to expand and this property is a rare find. In the East Valley area, industrial buildings with yard space are becoming more and more scarce. The building will be used as a manufacturing machine shop for the quickly growing East Valley Precision company.
Many features of the property are especially beneficial for East Valley Precision, including the fenced yard, full-power loading, and taxiway access. The surrounding Stellar Airpark is a privately-owned, public use space. The 15,000 square foot building is located at 4148 W. Venus Way. The acquired property was built in 1998.
NAI Horizon is a commercial real estate company established in 1992, with offices in both Phoenix and Tucson. The company is a member of the world’s largest commercial real estate network, NAI Global. NAI Global has 400 offices worldwide, operating across the United States and in 54 other countries. NAI Global is a subsidiary of Andrew Farkas’ premier merchant banking company, the Island Capital Group.
Recently, Resource Capital Corporation, a C-III Capital Partners subsidiary, announced that it has appointed Matthew J. Stern as President of the company. His appointment highlights C-III’s commitment to help grow Resource Capital.
Before entering this new role, Stern was first a Senior Managing Director at Island Capital Group, Andrew Farkas’ real estate investment bank. He began his work with C-III and Island Capital in 2010. In 2016, Stern was the head of the C-III team that lead the acquisition of Resource America. Since then, he has been serving as their Executive Vice President.
With so much experience in regards to Resource America, C-III, and Island Capital, Stern is extremely qualified and prepared for this next position as President of Resource Capital Corp. Stern will be working to grow the company as well as the relationships it has already built. He will also be overseeing day-to-day operations.
As a subsidiary of C-III Capital Partners, Resource Capital Corp. has access to some of the leading experts in the commercial real estate market. C-III offers their services to nearly $60 billion worth of commercial real estate properties across the globe. Their diverse portfolio of properties and other real estate companies has lead C-III to become an industry leader.
As the CEO of Island Capital, C-III and Chairman of Resource Capital Corp., Andrew Farkas is known for his wide-ranging expertise in the world of commercial real estate. His success has lead to not only the expansion of his own company, but also that of all of his subsidiaries.
Earlier this year, NAI Global recognized and gave well-deserved praise to one of its members, Scott Mertz, for being the top producer in their network in 2016. Mertz is the president of NAI Mertz; a Mount Laurel, New Jersey based NAI Global office.
Mertz has been known to be one of the top-producing members of the NAI Global network. Over the past three years, he has been awarded second and first place in the top producer rankings for his real estate dealings in the southern New Jersey and greater Philadelphia areas. This year, Mertz placed first thanks to many of his recent deals.
In 2016, Mertz leased 500,000 square feet in Florence, New Jersey. He also sold a property of over 200,000 square feet next door. Throughout his career, Mertz has been able to successfully complete sales and leases for over 3.5 million square feet of property. NAI Global has noticed this hard work and success.
As a member of NAI Global, Mertz is part of a network of over 7,000 real estate experts spanning the entire globe. The network is responsible for over 425 million square feet of commercial real estate. With access to all of this, Mertz is able to successfully help any client with any needs they might have.
C-III Capital Partners acquired NAI Global in 2016 in order to diversify and expand their current portfolio. Andrew Farkas, CEO of both C-III and Island Capital Group, was part of the reason for this expansion. Farkas’ career has been marked with a variety of success stories in the commercial real estate market. Under his leadership, both C-III and NAI have prospered.
Earlier this month, NAI Hunneman outside of Boston closed on the sale of the 125 Hartwell Ave. property in Lexington, MA. The property was sold for $5.35 million to Eliot Community Human Services, Inc.
The team responsible for this monumental sale was made up of David Ross (executive vice president), Henry Lieber (assistant vice president), Gina Barrosa (assistant vice president), and Ian McKinley (senior associate). Together the team was able to bring the seller and buyer together in order to negotiate a successful deal.
The property is two stories and totals 38,277 square feet of luxurious office space. This is perfect for a large human services agency. The NAI Hunneman team believes that the Eliot Community employees will be extremely happy with this new headquarters space especially since it has easy access to the Rte. 128 highway as well as a variety of local amenities.
NAI Hunneman is a member of the NAI Global network of real estate firms. As a member of this international network, NAI Hunneman has access to all of the resources that NAI Global has to offer. The network of firms works together to ensure clients’ needs are met. NAI Global operates a network of nearly 7,000 real estate professionals around the world with a portfolio of over 425 million square feet of property.
NAI Global is a subsidiary of Island Capital Group, which was founded in 2003 by Andrew Farkas. In 2016, C-III Capital Partners, a subsidiary of Island Capital Group, acquired NAI Global. Farkas played a major role in this acquisition and viewed it as a way to diversify his company’s portfolio while also expanding into new markets.
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