Posted by admin on Jun 22, 2011
C-III Capital Partners LLC (C-III) announced today that it has entered into a definitive agreement to acquire NAI Global, the largest and premier network of independent commercial real estate firms worldwide. C-III is led by Andrew Farkas, who founded and was Chairman and CEO of Insignia Financial Group, Inc. (NYSE:IFS). NAI Global will continue to operate as a separate company under its current management following the acquisition.
NAI manages a network of commercial real estate firms comprising 5,000 professionals and 350 offices in the US and 55 countries throughout the world. NAI’s network members provide a full spectrum of corporate, financial, technology and project management services.
“C-III plans to use its asset base, along with strategic acquisitions such as NAI, to create a fully diversified commercial real estate services company,” said Andrew Farkas. “This is the strategy that was successful for Insignia. C-III is led by the same team that built Insignia, and with C-III’s significantly larger asset base, I believe C-III can substantially exceed Insignia’s success,” concluded Mr. Farkas. At its height, Insignia managed $12.5 billion in assets, while today C-III’s portfolio approximates $150 billion in assets. Insignia was one of the largest commercial real estate services companies in the world when it merged with CB Richard Ellis in 2003.
Read the full press release on Business Wire.
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Posted by admin on May 3, 2011
This list in 2009 and 2010 reflected a recessionary New York, one thoroughly upended by economic maelstroms like high unemployment and the odd major bank collapse. No one had need of more office space; no one had financing for investments; no one had much to do save get on the blower and commiserate, or, on the odd workday, try to set up sit-downs or walk-throughs. The president of the United States was No. 1 in 2009, because everyone looked to the government for help. Toss me some TALF!
Then, inevitably, as these things seem to go in New York and not in places like Vegas or Mobile, a thaw began. The first inklings came amid the end of landlord concessions, whether for office tenants or those in apartments. Then, round about the summer of 2010, the news of major leases trickled out—foremost, perhaps, that of Si Newhouse (No. 51) intending to park his Condé Nast publishing engine in 1 World Trade, where the development has been organized by the Port Authority, led by Chris Ward (No. 70), and where Douglas and Jody Durst (No. 1) have the big private stake. (And simply that there is a 1 World Trade, more than halfway to its 1,776 feet now, is itself a sign of recovery.)
Then, the statistics across the board began to validate the gratingly chipper chatter as office leasing and investment sales picked up, and the housing market steered well clear of an assumed double dip. Suddenly, by the close of 2010, it wasn’t all so much bullshit; the recovery was happening. The list now is meant to reflect that. Three big things about it: Not since our inaugural Power 100 in 2008 has the upper echelon been so dominated by the familiar moguls, but not all are patronymically so. There’s a rustling at the top.
There are the Durst cousins, yes, and Anthony Malkin (No. 12), Donald Trump (No. 14), the Speyers (No. 15) and Richard LeFrak (No. 20)—and, for that matter, Andrew Cuomo (No. 2)—but also the boot-strappy likes of Mort Zuckerman (No. 5) and Andrew Farkas (No. 11), and our very own Richest Guy in Town, Michael Bloomberg (No. 7). We also have relative newcomers, like the benignly voracious Gary Barnett (No. 6); the seemingly ruthless Mikhail Prokhorov (No. 24); and the oddly familiar Scott Rechler (No. 19), back in Manhattan in a big way.
Check out #11 on the Observer slideshow to see Andrew Farkas.
Click here to view the full original article from the Observer.
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Posted by admin on Apr 5, 2011
Montauk Yacht Club Resort & Marina in East Hampton is a seaside sanctuary highlighting understated elegance and maritime lore. At first glimpse, the 107-room resort appears as a grand reminder of the gilded age set amidst the dramatic coastline of the Hamptons. The resort offers everything ever hoped for in a self-contained, full-service business hotel set on a sweep of powdery soft dunes.
The renovated Farmhouse Ballroom and seven other dedicated rooms for groups from 5 to 225 make for an affair with style, grace and the highest level of service. The resort also offers 32 acres of outdoor space and can accommodate waterfront receptions, scenic beach events or tented affairs.
“We want to make stays at Montauk Yacht Club effortless and enjoyable, so our guests can focus on what’s important,” says GM Lloyd Van Horn.
The Montauk Yacht Club’s team helps planners put together activities from bonfires to bocce ball tournaments. From surf clinics to yoga to world-class yachting, arrangements can be made for just about anything on or in the water—the reason why Yachting Magazine named it one of the Top Ten Marina Destinations in North America, Mexico and the Bahamas.
Planners can organize a sunset cruise to the historic Montauk Lighthouse and return to Montauk Yacht Club for a lobster bake and bonfire on the beach. Or attendees can take part in creating the freshest dinner imaginable with the “You hook ‘em, we cook ‘em” fishing charter.
The Montauk Yacht Club marina is a perennial favorite among the boating community. The 232-slip marina features newly renovated pilings and full hook-ups including phone, electric, water, cable TV, WiFi access and resort amenities dockside.
The resort’s four new Har-Tru tennis courts are perfect for small group activities such as adult clinics and tournaments for the competitive set. Private yoga classes, horseback riding, historical bike tours, scavenger hunts and guided nature hikes are all options for group activities. Planners can even organize surfing and stand-up paddle boarding lessons. With so many options, the planner has the flexibility to book a large group and still create unique and personal activities.
Each of the guest rooms and villas feature a king-sized bed or two doubles, with all the posh details. Accommodations offer 37” LCD HD flat panel televisions; custom designed nautical window treatments; indulgent bedding with goose down pillows, duvet comforters and 300-thread count sheets; spacious bath and vanity areas with plush oversized towels and luxury bath amenities; Keurig coffee makers, iHome clock radios; refrigerator and voicemail.
The quaint property is perfect for a little rest and relaxation in between meetings and team building initiatives. Essential Montauk Yacht Club accessories are a good book and several appointments at the resort’s SPA Montauk Yacht Club. The spa offers services specifically tailored to suit the needs of yachters and beachgoers. Signature treatments include the Beach Body Massage to restore moisture and prevent further sun damage and the Yachter’s Massage that concentrates on specific areas that can be affected by rough seas and more.
The Montauk Yacht Club team can orchestrate a sand castle building contest and an interactive culinary teambuilding experience with their chef, Robbin Haas. And planners can take a load off thanks to the personalized attention from Director of Sales Pamela Assogna, with over 20 years experience at the Montauk Yacht Club.
Dining here is a delight unto itself. Chef Robbin Haas tempts with his own brand of cuisine that offers the best in locally harvested and grown produce and proteins. His ever-evolving menu samples the finest in fresh, local fare, even using key ingredients grown or caught within minutes of the property.
Visitors should definitely step out and explore some of the area’s attractions, and Montauk Yacht Club can help with that. The resort can arrange for golf at Montauk Downs State Park, winery tours and shopping trips to celebrated East Hampton, helicopter tours and more.
Click here to read the original article.
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Posted by admin on Mar 14, 2011
Keep an eye on National Real Estate Investor’s 10 picks for people shaking up the commercial real estate industry in 2011. Each of the leaders profiled has made a bold move, and over the coming year time will tell whether their instincts and the risks they have taken pay off. The 10 are selected from across the spectrum of property types and financial interests. They reflect the impact of the recession, from the investments made by a private equity fund to the credit strategies of a retail REIT in the aftermath of bankruptcy. One profiled executive left the industry after selling a major apartment portfolio in 1998, and returned to launch an international real estate merchant bank.
Andrew Farkas was among the top 10 listed on the National Real Estate Investor’s picks.
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