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.
Brothers, Jared and Joshua Kushner are pleased with their fast-growing real estate technology startup, Cadre. Cadre focuses on pairing clients with the appropriate real estate firms, in order to create a much more efficient way for these two parties to connect.
The startup industry has taken off within the last few years. Investors have increased the amounts they are willing to spend, thinking that startups are the way of the future. Investment totals have increased 36% from 2014 to 2015 (1.1 to 1.5 billion).
Cadre has been trying to get off the ground through investor funding. During the Series A funding round, Thrive Capital, founded by Joshua Kushner, and General Catalyst led the pack, generating 18.3 million for Cadre. Series A funding is the first noteworthy round of venture capital financing and involves the selling of prefered stock in exchange for an investment. More recently, Cadre raised 50 million dollars in the Series B round of funding. Series B funding is the next step in the funding process. This is an opportunity for investors to gain ownership in the company, in the form of common stock. Fundraising is a very crucial element to any start up and with this huge amount, Cadre will hopefully launch its business model soon. Among others, investors include big names such as Goldman Sachs and Yuri Milner. Information regarding which companies drove the Series B funding has yet to come out.
This startup has also captured the attention of big names in real estate such as Michael Fascitelli and Andrew Farkas. Fascitelli sits on Cadre’s investment committee and is a member of the Vornado Realty Trust board. Andrew Farkas, who is the founder of the Island Capital Group, and CEO of NAI Global, sits on the board of Cadre. He helps oversee the organization and provides feedback on company decisions. Farkas has years of real estate experience, and is a big name in the industry, so his support carries a lot of weight, proving that Cadre is a smart investment.
In 1985, the Azusa Foothill Kennels was established. 30 years later, after a long history of service to the community through the rescue of local dogs and showing of champion level Boston Terriers, the property has been sold. The undisclosed buyer plans to renovate and eventually rent the building to a business that is pet oriented.
Marie Taylor of NAI Capital represented the buyer and the seller in the transaction. The undisclosed buyer mentioned that this is the second deal that Taylor and NAI Capital have made possible for both the buyer and the seller. Taylor went on to discuss the logistics of the property, highlighting the location as a great opportunity for a new or already operating pet service business. The site is ideal with over 360 thousand people living within a five mile radius. More benefits of the property include 9,754 square feet of kennel space and a 2,754 ingle family home. An estimated $5.25 billion will be spent on pet services in 2015, according to the American Pet Products Association, further sweetening this property for pet businesses.
Taylor is Senior Vice President of NAI Capital, a top commercial real estate firm located in Southern California. They currently have 14 offices throughout Los Angeles, Orange, Riverside, San Bernardino, Ventura and Kern Counties. NAI Capital is a member of the NAI Global network that has over 375 local offices operated by 6,700 local professionals. NAI Global is owned by C-III Capital Partners and was acquired while under management of CEO and Chairman, Andrew Farkas.
Southern California based NAI Capital is opening a new office in Victorville, California. Local commercial real estate market leaders such as Mehdi Mostaedi, Graeme Carr and Emelie Kwon will be frontrunners in the new office.
Mr. Mostaedi will become executive vice president and branch manager of the new NAI Capital office. Mr. Mostaedi and his team specialize in land sales, advising real estate investors & developers. Mostaedi will bring with him over 40 years of real estate experience. One of the highlights of Mr. Mostaedi’s career was his lead in a 2,500-acre resort that comprised of a championship golf course, luxury residential area, and a 220 unit time share.
NAI Capital CEO, Timothy Foutz, noted that the location is helping to expand the presence of NAI Capital in the area of Southern California where the real estate business is thriving. Mostaedi commented that he is proud to be leading a full service commercial real estate firm to the Victor Valley.
Graeme Carr joins as senior associate, and has 33 years of marketplace experience in Victorville. Carr specializes in commercial and industrial land buildings. He is a Certified Commercial Investment Member candidate and achieved the prestigious Century 21 Grand Centurion-producer award in 2005. He has lived and worked in the Victory Valley since 1982. Mr. Carr also holds positions on the board of directors for Apple Valley Christian Care Center, Ridgecrest Business Park Maintenance Corporation and Saint Timothy’s School Foundation. His experience is vital in the success and satisfaction he brings to his clients.
Another senior associate to join NAI Capital is Emelie Kwon. Ms. Kwon began her real estate experience in the 90’s. More recently, she has been a part of $50 million worth of transactions in the past two years. Along with over 15 years of experience, Ms. Kwon can do business in four different languages.
The diversity and experience of the new team NAI Capital has brought to Victorville will be paramount in its success in the commercial real estate industry. NAI Capital is a member of the NAI Global network. Under the administration of C-III Capital Partners, NAI Global continuously proves to be a leader in the commercial real estate industry.