Charge Enterprises Inc., which includes global businesses with the vision to connect people with communications and electric-vehicle charging, has entered into a Securities Purchase Agreement with Island Capital Group LLC, a merchant bank specializing in real estate transactions. Island Capital as a whole has had over 30 years of expertise in over $250 billion of transactions ranging across fund management, financial advisory, and consulting. Island Capital has been issued approximately 1.4 million shares of Charge common stock at $7 per share, the gross proceeds total a minimum of $7.5 million and a maximum of $10 million. The Securities Purchase Agreement also issues warrants to purchase up to 2 million shares of Charge’s common stock with an exercise price of $8.50 per share under a three-year term. Charge plans to use the proceeds to invest in organic growth, for general corporate purposes, and working capital. The funding is expected to close by the end of April. These securities have not yet been registered under the Securities Act of 1933 or any state security law. They will not be sold without registration in the...
read moreIsland Global Yachting (IGY Marinas), a luxury marina operating company, founded by Andrew Farkas, recently announced its addition of yet another international marina to its global marina network. The St. Katharine Docks Marina (SKD Marina), located in London, England becomes the 18th marina in IGY’s network, spanning across 11 countries. Growing from just a few marinas in the Caribbean to a global network of marinas reflects the tremendous success and growth IGY has seen under Farkas Chairmanship. SKD Marina is a historic, 5 Gold Anchor, 185-ship facility, as well as the only marina in Central London. IGY will be adding St.Katherine’s alongside its other European marinas, such as Malaga (Spain), Sète (France) and Porto Cervo (Sardinia). IGY has stated that the move into London was facilitated by a projected increase in tourism post-Brexit. With the help of Chairman and Founder Andrew Farkas, IGY looks to bring new life to the SKD Marina. Improvement of customer service, operating procedures, and overall global marketing awareness are key points of emphasis for the luxury yacht operation company. This expansion operation of yet another luxury marina cements IGY as the largest international superyacht destination company in the...
read moreAndrew Farkas is the Chief Executive Officer of C-III Capital Partners—a leading commercial real estate services and investment management company with principal offices in New York City and Irving, Texas. The company took control of a retail property known as the Chesterfield Mall, located near St. Louis, Missouri, following a foreclosure action in 2017 before putting a majority of it for sale in March of 2018. The location is now set to be replaced by a new development aiming to mimic a walkable urban area. The development is being called Chesterfield Outlets and construction has begun to create The District, which is slated to include a new concert space in addition to other entertainment offerings. With a leadership team that has been together for over 20 years and successfully built one of the largest fully-integrated real estate services companies, C-III Capital Partners uses their expertise, experience and platform to further enhance their track record, as well as deliver superior and long terms funds to their...
read moreAccording to Campbell & CO Investment Adviser LLC’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), the company has raised its holdings in Exantas Capital Corp (NYSE:XAN) by 35.3%. The institutional investor owned 56,788 shares of the company’s stock after buying an additional 14,821 shares during the fourth quarter. Campbell & CO Investment Adviser LLC owned about 0.18% of Exantas Capital worth $671,000 as of its most recent SEC filing. Other hedge funds and institutional investors have made changes to their positions in the company as well. Bank of Montreal Can raised its holdings in Exantas Capital by 150.6% during the second quarter and now owns 4,321 shares of the company’s stock worth $49,000 after purchasing an additional 2,597 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Exantas Capital worth $95,000 while Metropolitan Life Insurance Co NY grew its holdings in Exantas Capital by 25.5% in the third quarter. Metropolitan Life Insurance Co NY now owns 8,841 shares of the company’s stock valued at $101,000 after purchasing an additional 1,797 shares during the last quarter. Other companies such as A.R.T. Advisors LLC and Nisa Investment Advisors LLC have increased their stake in shares of Exantas Capital as well....
read moreOn October 10th, the Student Leadership Network hosted its thirteenth (Em)Power Breakfast. This breakfast celebrated the organizations students and their academic achievements. More than 9,000 girls who are impacted by the Young Women’s Leadership Schools in New York City and 15 Young Women’s Leadership Network were celebrated. This breakfast also celebrated business and philanthropic leaders who are committed to breaking the cycle of poverty through equalizing education. Ann Tisch, SL Network Founder and President said “This annual event underscores our mission at TYWLS to provide young women with the best educational opportunities and resources to develop into the next generation of innovations, change agents, and leaders.” TYWLS has helped give about $150 million in scholarships and financial aid for students going to college since 2001. These students have graduated from college at nearly four times the rate of their peers. The (Em)Power Breakfast would not have been possible without help and support from Proskauer, Bloomberg Philanthropies, Fairstead, Estee Lauder Companies, Paul Weiss, Richard Cohen, Andrew Farkas, Fredda Cassell and Jim Maher, and Brad...
read moreA NAI Global office recently opened in Salisbury, Maryland. This newly opened office will serve investors, owners and occupiers throughout the Delmarva Peninsula. NAI Coastal is a full service commercial real estate firm offering knowledge and experience in the brokerage, development and consulting fields. They also work with Gillis Gilkerson, a construction and development company that operates in Maryland and Delaware. This partnership will allow the Coastal team to provide their customers with insights into the process of commercial real estate develop from concept to completion. The team’s development knowledge includes strategic planning, land purchase, building program development, turnkey project management, financing, permit and approval attainment, building structures, and marketing and managing property. NAI Costal is a branch of NAI Global which is managed by C-III Capital Properties. C-III is one of the largest real estate investment firms in the United States, led by Andrew Farkas who is the CEO and...
read moreC-III Capital Partners, in a joint venture with Transwestern, purchased Camelback Esplanade III for a total of $60.25 million. The 218,387 square foot office building in Phoenix, Arizona, is one of the five office buildings that make up the Camelback Esplanade. The building was previously owned by CH Realty VII/O Phoenix Esplanade LLC, a company formed by Crow Holdings Capital Partners LLC in Dallas, Texas. Camelback Esplanade III is a ten-story office building at 2425 East Camelback Road. The surrounding Camelback Esplanade corridor offers a broad spectrum of amenities for tenants such as a hotel, a Starbucks, City Market Deli and Merc Bar, as well as an AMC dine-in movie theater. The development is located just across the road from Biltmore Fashion Park, a luxury shopping center with more than 60 high-end retailers and restaurants. Barry Gabel, Chris Marchildon, and Will Mast of CBRE Capital Markets in Phoenix represented the seller while Jim Fijan and Jack Fijan of Transwestern represented the buyer. Bill Zurek and Jim Achen of Transwestern will oversee the leasing and management of the property. Gabel comments that with its prime location and Energy Star-rated and LEED® Gold Certified Construction, the sale of Camelback Esplanade III indicates a bright future for the Phoenix metro area. “With its combination of timeless trophy-quality construction and unmatched location at 24th and Camelback Road, Camelback Esplanade III is part of an exclusive group of true Class A office assets in Phoenix,” said Gabel. “This sale is a clear indicator of the long-term economic prospect of metro Phoenix.” At the acquisition of Camelback Esplanade III, the building was around 50% occupied leaving room for more tenants to take advantage of the prime Class A office space. C-III Capital Partners is one of the largest real estate investment firms in the United States, led by Andrew Farkas who is the CEO and...
read moreThe real-estate investment trust, Exantas Capital Corp., is turning the heads of investors and hedge funds alike going into the second quarter of 2019. With the increase of industry-wide interest in Exantas Capital Corp., dominant hedge fund managers are investing in Exantas, and current stakeholders are upping their holdings. Notable Hedge Fund managers investing include Marshall Wace LLP and Caxton Associates LP. Current stakeholders that are raising their stake in Exantas Capital Corp. by a substantial amount include HBK investments, which held a stake worth $16.3 million at the end of the first quarter. Exantas Capital Corp. is externally managed by Exantas Capital Manager Inc., which is a subsidiary of C-III Partners LLC. C-III is an investment management and commercial real estate services company of which Andrew Farkas is the CEO and Chairman. Exantas Capital Corp. leverages C-III by providing transitional commercial real estate loans and mortgage-backed...
read moreOn May 23, the wholly-owned subsidiary of C-III Capital Partners LLC, C-III Asset Management LLC, was assigned affirmation by Morningstar Credit Ratings, LLC for its MOR CS2 commercial mortgage primary-service ranking and its MOR CS1 commercial mortgage special-servicer ranking. Andrew Farkas is the founder, CEO, and chairman of commercial real estate services and asset management company C-III Capital partners. Morningstar considers many factors when affirming primary-servicer rankings. C-III Asset Management, LLC earned Morningstar affirmation based on their operational resources and staff experience, procedures for proactive asset administration, integrated and effective loan administration platform, and internal-audit and compliance program. Despite reducing its special-servicing workforce in 2018, C-III’s affirmed special-servicer ranking recognizes its ability to provide strong senior leadership, experienced asset managers with an extensive track record of results, and well-designed technology. Looking back on 2018, as of December 31, C-III’s primary-servicing portfolio included 241 loans with an aggregate unpaid principal balance of approximately $4.88 billion. The company was also named a special servicer one Freddie Mac securitization and 117 CMBS transactions that totaled 1,597 loans with an estimated unpaid principal balance of $19.75 billion. The company also earned recognition as servicer and special servicer for one legacy commercial real estate collateralized debt obligation that included two remaining loans. Lastly, C-III was named servicer on two CLO transactions consisting of 39 loans, with one loan in this group earning special servicer status. The company’s active special-servicing portfolio contained 224 assets in total, 66 of which were loans and 158 REO properties with a total unpaid principal balance of $3.75...
read moreNAI Global, a leading commercial real estate brokerage firm, recently expanded its footprint in Colorado. Chrisland Inc., a boutique commercial real estate brokerage, investment and development firm in Fort Collins, joined NAI Global. The global firm plans to maintain local ownership following NAI’s mantra, “Lead locally. Act globally.” It will now do joint business under the name of NAI Affinity. While they’re known for real estate brokerage, NAI Affinity’s business does both brokerage and investments. Ryan Schaefer, co-founder of Chrisland Inc., will remain the CEO of NAI Affinity. The firm is involved in many land deals, such as the 2534 master-planned community worth $20 million. The mass amounts of land available for purchase in Northern Colorado is appealing for global investors who don’t often see so much acreage available in one place. Further, these opportunities allow for Northern Colorado to be put on a global map in a way it wasn’t before. While local business helps NAI Global tremendously, NAI Global is also beneficial for Chrisland. Schaefer stated, “We will be able to expose our clients to investment opportunities we would not have been aware of before we joined NAI.” NAI Global is a subset of C-III Capital Partners, led by CEO and Chairman, Andrew Farkas. The company has over 400 offices all over the world. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions. NAI Global has been working with many of the world’s largest multinational corporations for more than 30...
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