In the wake of Hurricanes Irma and Maria, Andrew Farkas has joined the Virgin Islands Hurricane and Resiliency Advisory Group, which will help guide reconstruction and resiliency efforts in the territory.
The advisory group is composed of local officials and community members, in addition to business and environmental experts, as well as thought leaders from the United States.
The committee has at its disposal $1.4 million to aid relief efforts, which was collected through United States Virgin Islands recovery.
Under the guidance of Virgin Islands Governor Kenneth Mapp, the expert committee will perform hurricane damage assessments, and outline potential risks the VI could face within the next 30 years. The committee will also focus on developing long-term security and economic recovery in the VI, with attention to making the area’s infrastructure, homes, and businesses more resistant to future storms and natural disasters.
More in-depth areas of focus for the committee include the ongoing development and implementation of USVI response and recovery efforts, the streamlining of coordination and leverage of funding and volunteer efforts, a coordinated economic recovery plan, keeping track of federal disaster assistance funding and private donations, and policy recommendations and guidelines to increase the USVI’s resilience in the face of natural hazards.
Andrew Farkas has considerable interest the United States Virgin Islands, most importantly its recovery and growth after the recent string of hurricanes that have hit the territory. Farkas is the chairman and CEO of Island Capital Group, an industry-leading real estate merchant bank headquartered in New York City.
Commercial Observer’s 50 Most Important Figures of Commercial Real Estate Finance is filled with prominent figures. This list recognizes those industry leaders that are making major strides in the real estate business. Commercial Observer is known as being New York’s premier authority when it comes to all things real estate.
This year, Andrew Farkas was listed at the number 30 spot. Dubbed the “king of a veritable real estate empire,” Farkas was featured on the Power 100 list last year. His hard work building Island Capital Group up and acquiring multiple subsidiaries (C-III Capital Partners, NAI Global and EVO) have caused him to land on this list multiple times.
Farkas’ C-III subsidiary has become one of the top 30 multifamily property managers in the United States. By expanding Island Capital Group with the acquisition of C-III, Farkas has been able to better serve his clients while also being able to provide more solutions to a wider range of clients.
Farkas’ reputation in real estate is long standing. Before building Island Capital Group, he graduated from Harvard with a degree in Economics. He then went on to serve as the CEO of Insignia Financial Group, Inc. It eventually became one of the largest commercial real estate services thanks to a merger with CB Richard Ellis in 2003.
That same year, Farkas took on the challenge of starting Island Capital Group in New York City. After establishing his company as a leader in the world of real estate, Farkas then went on to build up his next company, Island Global Yachting, in 2005. IGY specializes in luxury yacht marinas and properties surrounding them.
NAI Horizon, a member firm of NAI Global located in Phoenix, recently released a list of their top 10 producers in 2016.
Ten well-deserving NAI Global agents recently grace the firm’s annual list of top producers. Representing a wide array of sales types, the group reportedly produced a total of $275 million in transitions in 2016. Ranging from investment sales to retail and industrial, the list certainly highlighted the diverse work NAI Horizon does. The list’s transactional total as well as the broad range in product type is a testament of the firm’s overall success and health in Phoenix’s real estate industry.
Established in 1992, NAI Horizon provides a full range of real estate services and specializes in several commercial property types including industrial, healthcare, office, investment sales and more. With over 30 years of local expertise in Arizona and over 150 years of combined property management experience, NAI Horizon has become the area’s premier real estate services firm.
Joining NAI Global as a member firm in 2012, NAI Horizon is now a part of the world’s largest networks of owner operated commercial real estate brokerage firms. With over 400 offices in 54 countries, NAI Global builds their global strength with successful, local firms, like NAI Horizon. Since being founded in 1978, NAI Global has grown exponentially and now its network of member firms offer broad spectrum of activities including corporate, financial, technology and project management services.
In 2012 NAI Global was acquired by C-III Capital partners, a commercial real estate services company. Similar to NAI Global, C-III also engages in several real estate activities like loan origination, fund management, principle investment and more. The premier real estate services firm was first founded by Andrew Farkas in 2010 as a wholly-owned subsidiary of Island Capital Group.
C-III Capital Partners LLC, one of the world’s leading real estate investment companies, has seen a very busy, yet successful, 2016 year.
Engaging in a wide range of activities, from primary and special loan servicing and loan origination to fund management and principal investment, C-III has been providing its clients with innovative real estate equity and debt solutions since the organization’s inception in 2010. As one of the US’ premier commercial real estate services and investment management company, C-III is known for its long record of value creation and extensive experience in the industry.
In May 2016, C-III announced its plan to acquire Resource America, Inc., an asset management company that specializes in real estate and credit investments. Completed in September, the acquisition of Resource America, Inc. has allowed C-III to reposition itself in the market, as the company is now able to provide commercial real estate debt and equity solutions to both institutions and retail investors.
In addition to their major acquisition of Resource America, Inc., C-III also made several noteworthy purchases in 2016. C-III purchased the Fairway Office Center in August and the Centurion Tower in September, both of which demonstrate the company’s attraction to Class A office buildings in South Florida. Paying a grand total of $78.5 million for both buildings, C-III has officially established a strong presence in the office real estate industry in South Florida.
While C-III’s principal place of business is in Irving, Texas, the company also has offices in New York City, New York, Nashville, Tennessee, Princeton Junction, New Jersey, and Dallas, Texas. C-III also boasts an impressive leadership team, stocked full of accomplished and diversely-experienced men and women committed to fulfilling the company’s mission.
Among the leadership team is Andrew Farkas, founder and Chief Executive Officer of C-III Capital Partners LLC. As an integral part of C-III leadership team, Farkas has been the driving force behind the company’s continued success and expansion. Farkas has been an impactful leader in the real estate industry since 1990, when he founded Insignia Financial Group which is now one of the largest owner and operator of multifamily real estate and among the largest owners and operators of commercial space in the United States.
CEO and founder of the Island Capital Group LLC, Andrew Farkas, was recently recognized by Real Estate Forum’s 70th Anniversary Commemorative issue as a leader who has made a significant impact on the industry and will continue to do so for years to come.
Real Estate Forum’s September 2016 issue features special anniversary coverage as the magazine celebrates its place in the real estate industry for the past 70 years. The largest component of the anniversary coverage, entitled The Elite, profiles 70 individuals the magazine’s editors believe to be the most innovative and influential leaders in the real estate industry.
As one of the world’s most successful real estate entrepreneurs and investors, Andrew Farkas lands on Real Estate Forum Magazine’s list of Elites with other heavy hitters like David Rockefeller, Conrad Hilton, and Ethan Penner. Certainly a worthy recipient of this prestigious honor, Andrew Farkas has been a force in the industry since founding Insignia Financial Group Inc. in 1990. During his tenure at Insignia, Farkas was responsible for growing the company to the largest owner and operator of multifamily real estate and among the largest owners and operators of commercial space in the United States. When Insignia merged with AIMCO in 2003, it was among the top three global leading commercial real estate service firms.
Since then, Andrew Farkas has founded and managed several successful private real estate businesses. In 2003, Farkas founded Island Capital Group LLC, a real estate merchant bank, and continues to serve as its managing member, chairman, and CEO. Additionally, Andrew Farkas is also the CEO at C-III Capital Partners and CEO at Anubis Advisors; all of which the Island Capital Group LLC owns controlling interests in.
During the past week, billionaire commercial real estate investor Andrew L. Farkas has formally announced the merger of C-III Realty Services and NAI Global. The companies have been informally affiliated since 2012. This combination does not involve C-III Asset Management, another big section of C-III Capital Markets, which will remain a separate entity.
The C-III Realty subsidiary will be renamed NAI Global Capital Markets Group and will focus on providing support for NAI Global. NAI will absorb C-III Realty’s 25 capital markets brokers and other experts located at the main offices in New York, Dallas and Nashville. C-III Realty has the capability to conduct loan, debt, equity, industrial, hotel, retail and office business all over the world. This will help NAI Global achieve their goal of increasing visibility as it plans to grow in the U.S. and abroad. This merger puts the two companies under one name allowing for seamless delivery of all the services they individually provided.
In the last 5 years, NAI Global has completed more than 2,000 investment deals totalling $16 Billion. Included in this calculation is $6 billion worth of sales from C-III Realty Services. Jay Olshonsky, the president of NAI Global, believes that this merger will increase sales and provide a huge brand endorsement for current membership firms which can now reap the benefits of a world-class investing firm.
Andrew Farkas, the founder of C-III Capital Markets, was the main broker behind this deal. Farkas was also the Founder of Insignia Financial Group and sits on the board of NAI Global. He has years of real estate experience and is constantly making deals to expand his influence and disseminate his knowledge.
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