Andrew Farkas Named One of Most Important People in Commercial Real Estate Finance

Posted by on Apr 1, 2014

According to the Commercial Observer, Andrew Farkas ranks 13th on the list of the 50 Most Important People in Commercial Real Estate Finance.  Farkas, who had an outstanding year, is the CEO of the versatile financial real estate firm C-III Capital Partners.  C-III is based in Irving, Texas and is an affiliate of Island Capital Group, also run by Farkas.  C-III nearly doubled its invested capital in 2012, upping the total to $3.6 billion through recent expansion efforts.

C-III Capital Partners has a full-service, multifamily management company called U.S. Residential Group LLC.  Its management services area expanded into four new states this year, while its portfolio increased by more than 25 percent in the same period.  C-III also boasts a fully invested Recovery Fund I, an oversubscribed $310M investment fund specializing in distressed assets.  Lastly, according to surveys run by the Mortgage Bankers Association, C-III ranks near the top of several commercial and multifamily servicing lists.

Andrew Farkas founded Island Capital in May 2003 and continues to serve as both CEO and Chairman. He also currently serves as CEO at Anubis Advisors and Chairman at Island Global Yachting.  Before founding Island Capital, Farkas served as Chairman and CEO of Insignia Financial Group, Inc., a global real estate services company that was merged with CB Richard Ellis in 2003.  The merger resulted in the world’s largest commercial real estate services company at the time.

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Commercial Observer Names Andrew Farkas to Top 50 List

Posted by on Mar 5, 2013

Andrew Farkas was listed seventh on the Commercial Observer’s list of the top 50 most important people in commercial real estate finance. Farkas is CEO of C-III Capital Partners and was recognized for the acquisition of NAI Global, which was completed in January 2012. This acquisition gave C-III access to an additional 5,000 real estate professionals.

C-III Capital Partners offers real estate equity and debt solutions by engaging in a wide range of activities, including loan origination, primary and special loan servicing, principal investment and fund management. C-III has offices in Texas, New York, South Carolina, Virginia, Illinois and Tennessee.

The Observer considered brokers and lenders, but the majority of the professionals listed are lenders because they ultimately control the money and make the final deal happen. The list was compiled by speaking to people in the industry, consulting lists of top producers and looking at banks that are most active. Although not everyone on the list is based in New York, the focus is on the New York tristate region.

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C-III Capital Partners Enters Multifamily Property Management

Posted by on Nov 15, 2011

C-III Capital Partners LLC (C-III) announced today that it has acquired two affiliated multifamily property management businesses – U.S. Residential Group (USRG), based in Carrollton, Texas, and Pacific West Management (PWM), based in Irvine, CA. Together, USRG and PWM currently manage approximately 24,000 multifamily units located in 12 states. In connection with the acquisitions, the operations of USRG and PWM have been combined and will operate as a subsidiary of C-III under the U.S. Residential Group name, and the company will continue to operate under the leadership of its current management team headed by Alan R. Fenstermacher.

C-III commenced operations with the purchase of Centerline Capital Group’s institutional real estate debt fund management and commercial mortgage loan servicing businesses in March 2010. Since that time, C-III has successfully launched mortgage origination, investment sales and title insurance businesses and it has expanded its principal investment, loan origination, fund management, and primary and special loan servicing businesses. In August 2011, C-III announced that it had acquired the special servicing and CDO management businesses of JER Partners. In June 2011, C-III announced that it had entered into an agreement to acquire NAI Global, which is the largest world-wide network of independent commercial property services companies that provide property management, leasing, investment sales brokerage and ancillary commercial real estate services. That transaction has not yet closed.

“The USRG and PWM acquisitions represent C-III’s next step in creating a fully diversified commercial real estate services company,” said Andrew Farkas, Chief Executive Officer of C-III and the former founder and Chief Executive Officer of Insignia Financial Group, Inc. “With the same leadership team that built Insignia, C-III is focused on building a diversified real estate services company designed to meet the demands of all constituents in the commercial real estate industry in today’s environment. We are confident that USRG, its management team and its strong client relationships will make valuable contributions toward achieving C-III’s goals, and we look forward to serving USRG’s clients and enhancing and expanding the services C-III and USRG can provide to them.”

“Joining forces with C-III and Andrew Farkas is a very exciting opportunity for USRG to accelerate the national expansion strategy we began a year ago,” said Fenstermacher, who will continue as President of USRG. “This transaction will position USRG to continue providing first class property management services to our loyal clients within our current markets and enable us to provide great service wherever our clients choose to invest. This transaction also presents a tremendous opportunity for our employees to grow within our organization,” Fenstermacher added.

Read the original press release on Business Wire.

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Grubb & Ellis Company Enters Into Agreement with C-III Capital Partners LLC and Colony Capital LLC

Posted by on Oct 24, 2011

Grubb & Ellis Company (NYSE: GBE), a leading real estate services and investment firm, announced today that it has entered into exclusive negotiations with a subsidiary of C-III Capital Partners LLC, an affiliate of Island Capital Group LLC, which has partnered with an affiliate of Colony Capital LLC regarding a strategic transaction with the company.

A C-III affiliate also has agreed to invest $10 million in Grubb & Ellis through the expansion of the company’s existing $18 million credit facility with Colony Capital and purchase $4 million of Colony’s existing facility, which will establish both C-III and Colony Capital as significant stakeholders in Grubb & Ellis.

“This announcement is very positive for Grubb & Ellis employees, clients and stakeholders.  C-III Capital Partners and Colony Capital are highly regarded multifaceted organizations with deep expertise and involvement in the commercial real estate industry.  Partnering with these firms offers significant growth opportunities for Grubb & Ellis,” said Grubb & Ellis Chairman C. Michael Kojaian.

“Grubb & Ellis is a long-time leader in the real estate industry and we share management’s vision of strengthening the platform and growing the company.  C-III Capital Partners and Colony have the capital base and industry expertise necessary to bolster Grubb & Ellis’ client offerings and position the company for long-term success,” said Andrew Farkas, chairman and CEO of C-III Capital Partners.

Farkas is the founder of New York-based Island Capital Group LLC and former chairman and CEO of Insignia Financial Group, Inc.  Island Capital Group is a leading international real estate merchant banking firm specializing in real estate investing, real estate operating businesses and real estate securities.  Island Capital was founded by Farkas in 2003 immediately following Insignia’s merger with CB Richard Ellis.

Read the full release on PR Newswire.

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JER Investors Trust Inc. Reports Recent Developments

Posted by on Oct 13, 2011

JER Investors Trust Inc. (“JERIT”) today summarized for its shareholders the following recent developments:

— The New Manager is an indirect subsidiary of C-III Capital Partners LLC (“C-III”). Joseph Lytle, Robert Phillips and Jenna Unell are employees of C-III. Lawrence Block, William Jarrard and Yvonne Owens are employees of Island Capital Group LLC, which indirectly controls C-III. More information about C-III is provided below.

— These changes to JERIT’s management were effected in connection with a transaction in which C-III purchased the commercial real estate special servicing and collateralized debt obligation (“CDO”) management businesses previously operated by J.E. Robert Company, Inc. (“JER”) and its affiliates. As a result of that transaction, affiliates of C-III have taken over the special servicing (previously performed by JER) of loans collateralizing various commercial mortgage-backed securities (“CMBS”) owned by two subsidiaries of JERIT that have issued CDOs, as well as collateral administration of those CDO entities.

Read the full press release on Market Watch.

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Fitch Affirms CMBS Primary and Special Servicer Rating of C-III Asset Management LLC

Posted by on Oct 6, 2011

Fitch Ratings affirms C-III Asset Management LLC commercial mortgage-backed securities (CMBS) primary servicer rating at ‘CPS2-‘ and its special servicer rating at ‘CSS1-‘.

On Aug. 30, 2011, C-III Capital Partners LLC (C-III) announced that it had acquired the special servicing and CDO management businesses of JER Partners (JER), a private real estate investment management company. JER was the named special servicer for $35.5 billion of commercial real estate loans, of which approximately $4 billion is currently in special servicing and under active management.

C-III will merge JER’s special servicing operations into its wholly owned subsidiary, C-III Asset Management LLC, which is a special servicer of commercial real estate loans. With the acquisition, C-III is now the named special servicer for approximately 14,000 loans with an aggregate balance in excess of $152 billion, of which approximately $17 billion is currently in special servicing.

Fitch has affirmed the following ratings:

CIII –Special servicer rating at ‘CSS1-‘; –Primary servicer rating at ‘CPS2-‘.

Additional information is available at

Andrew Farkas is the CEO of C-III Capital Partners.

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