Posted by admin on May 19, 2014
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.
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Posted by admin on May 21, 2013
The New York Observer released its Power 100 list and Andrew Farkas was named #17. There were 167 on this year’s list and 40% of those people work in the ownership and development sectors. This clearly indicates that real estate professionals are on a buying spree and the value of land is bouncing back. The other professionals listed are architects, attorneys, financiers and politicos.
Andrew Farkas is chairman and CEO of Island Capital Group (ICG) and C-III Capital Partners, a controlled affiliate of ICG. C-III controls 40% of Centerline Capital Group. These three firms offer a broad range of real estate investment services, including special servicing, affordable and conventional multi-family lending services, management of $2 billion of invested capital across four debt funds, and loan origination. Last January, C-III acquired NAI Global, which gave C-III access to 5,000 more real estate professionals.
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Posted by admin on Jun 15, 2012
Andrew Farkas, Chairman and CEO of Island Capital Group and CEO of C-III Capital Partners, was ranked #16 in The New York Observer’s annual Power 100 list. The Power 100 includes New York City brokers, developers, attorneys, politicos, landlords and lenders who worked hard, won awards, and received promotions. The Observer took note that C-III Capital Partner’s purchase of NAI Global gave Farkas access to 5,000 more real estate professionals. It also brought him one step closer to achieving his goal of building a fully diversified commercial real estate services company.
C-III Capital Partners provides innovative real estate and debt solutions and is engaged in a wide range of activities, including loan origination, primary and special loan servicing, fund management, and principal investment. It’s headquartered in Irving, Texas, but also has offices in New York, South Carolina, Virginia, Illinois, and Tennessee. C-III is a controlled affiliate of Island Capital Group.
Island Capital Group (ICG) is an international real estate merchant bank headquartered in New York City. ICG is also involved in a broad range of activities, including investment management, principal investment, consulting services and development, and financial advisory.
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Posted by admin on Feb 10, 2012
Reina Gattuso, a reporter for The Harvard Crimson, recently sat down with Andrew Farkas to discuss the new Farkas Hall. After a recent donation to Harvard University, the New College Theater is being renamed Farkas Hall. He originally suggested the theater be renamed The Farkatorium, but the University decided against it.
Andrew Farkas graduated from Harvard University in 1982 and is now CEO of Island Capital Group and C-III Capital Partners. As an undergraduate, he served as president of the Hasty Pudding Club, which was founded in 1770 and is the oldest college social club in the United States. The Club is also the third-oldest theatrical organization in the world and five U.S. presidents were members.
While he was the undergraduate president of the Pudding, it was in serious financial trouble. To raise money and save the Club, he hosted a gala. Andrew Farkas recounts, “I got the Copley Plaza Hotel to give me 900 bottles of champagne for a very, very cheap price. Then I sold tickets, basically door-to-door, for a gala in honor of the Hasty Pudding.” The gala brought in about $35,000, which covered the Club’s budget for a whole year.
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