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 SEC.
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.
Robert Lieber, chairman of the Urban Land Institute (ULI), is preparing for the 2014 ULI Fall Meeting taking place later this month. Urban Land Institute of New York is a real estate organization dedicated towards responsible land use and sustainable growth. The Fall Meeting is a time to discuss what strategies are working towards improving sustainable development and ways real estate development can improve. This meeting is Lieber’s most high profile event since becoming chairman in July 2013.
Robert Lieber is heavily involved in real estate development. He is the executive managing director of Island Capital Group, a leading international real estate merchant bank founded by Andrew Farkas and he has been a member of ULI for more than 20 years.
As chairman of ULI, Lieber aspires to raise awareness about the organization and ULI’s mission to the constituencies in both the public and private sectors. Secondly, Lieber plans to continue to be responsive to the needs of the stakeholders in the communities ULI serves.
The ULI plays two major roles. The organization is a networking group that brings real estate professionals together to discuss key issues, but the ULI also operates on a more local level. For example, ULI was consulted about addressing the World Trade Center after 9/11 and how to get development moving 3 or 4 years after the attack.
Lieber is excited about the 2014 ULI Fall Meeting because it is putting the limelight on New York City. It has been ten years since the meeting was held in New York. Lieber sees the meeting as an opportunity to highlight the positive changes in the city, such as the development of parks and the improvements in the New York City transit system.
The ULI Fall Meeting is scheduled for October 21-23 at the Javits Center in New York City. As of now, ULI expects approximately 7,000 attendees.
Island Capital Group is a leading real estate merchant bank, which specializes in real estate securities, real estate operating businesses and real estate investing. Island Capital Group is headquartered in New York City and was founded in May 2003 by Andrew Farkas. Farkas now serves as a Managing Member, Chairman, and Chief Executive Officer of Island Capital Group.
Island Capital Group controls different groups of real estate services companies. A few of these companies includes C-III Capital Partners, Anubis Advisors and Island Global Yachting. C-III Capital Partners is Island Capital Group’s largest subsidiary. C-III Asset Management LLC is a subsidiary of C-III Capital Partners. Applied Technology & Management, Inc. is a subsidiary of Island Global Yachting.
C-Bridge Capital was created in 2013 by Island Capital Group in order to expand ICG’s real estate business into the Asia Pacific region. ICG Realty LLC is a subsidiary of Island Capital Group, which provides real estate brokerage services.
Island Capital Group deals with a variety of different real estate related investments that offer the opportunity for risk-adjusted returns. This includes investments that are in equity and debt securities, real estate operating companies and real property.
Prior to founding Island Capital in 2003, Farkas was Chairman and CEO of Insignia Financial Group. Insignia Financial Group is a global real estate services company, which Farkas established in 1990. In July 2003, Insignia merged with CB Richard Ellis to create CBRE. The two companies together created the largest commercial property company in the world at the time.
Andrew Farkas, founder and CEO of Island Capital Group, was recently recognized for his excellence in managing the versatile international real estate merchant bank. Ranking 16th on Commercial Observer’s 7th Annual Power 100 list, Farkas has clearly come a long way since his days of buying up distressed properties in the nineties. In February he was ranked #13 in Mortgage Observer’s “50 Most Important People in Commercial Real Estate Finance” and is also the chairman and chief executive of C-III Capital Partners. C-III Capital is a Texas-based affiliate of Island Capital Group and its largest subsidiary.
C-III Capital nearly doubled its invested capital in 2013 (to $3.6 billion) and controls one of the largest commercial mortgage servicers in the country, C-III Asset Management. It also ranked highly on several commercial and multifamily servicing volume surveys conducted by the Mortgage Bankers Association. According to The National Multi Housing Council, U.S. Residential Group LLC, a fee-based multifamily management company affiliated with C-III, is one of the top apartment management companies in the country.
In 2012, C-III Capital Partners acquired NAI Global, the world’s largest network of owner operated commercial real estate firms. Just two years later, NAI was ranked fifth in the 2014 Lipsey Survey of Top 25 Commercial Real Estate Brands. Through other subsidiaries, Island Capital Group oversees more than $3.7 billion of assets under management in real estate-related investment funds.
Andrew Farkas founded Island Capital Group (ICG) in May 2003 and currently serves as its Managing Member, Chairman and CEO. Island Capital Group is a leading international real estate merchant bank engaged in a broad range of real estate related activities. Through its headquarters in New York City, ICG pursues a broad range of real estate-related investments. Its management team is comprised of individuals with financial expertise and true operating experience in order to view investments more critically and understand complex opportunities.
ICG has a unique strategy for identifying opportunities with a “top down” and “bottom up” method by taking a proactive approach to sourcing investments that is consistent with its investment thesis and leveraging its extensive network of brokerage, banking and institutional relationships.
Island Capital Group has six portfolio companies listed on its website: C-III Capital Partners, Centerline Holding Company, Island Global Yachting, Applied Technology & Management, ENSeC and ICG Realty. ICG provides several services, which are listed under “Businesses” on its site: (1) advisory, consulting and asset management services, (2) commercial real estate loan servicing, (3) fund management, (4) principal investment and co-investment, and (5) development.