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.
A deal was struck for two buildings within the Huntington Beach Medical Campus in California, with the help of NAI Capital. Executive Vice President of NAI Capital, Tom Nguyen, acted on behalf of KO’s HB Medical Building Inc. in the sale of their properties to Blue Sky HB, LLC, who bought the medical buildings for a price tag of $7.8M.
The sale involves two medical buildings, with a combined square footage of over 48,000, and one parking garage covering 1.8 acres of land. Although the two buildings, which sit at the entrance of the Huntington Beach Medical Campus, are in poor condition, the buyer has plans to renovate their purchase. Other medical facilities located within the campus include Huntington Beach Diagnostic Imaging & Breast Center, Hunting Beach Hospital and Huntington Professional Tower & Pharmacy. Occupants within the campus also include some pediatric practices and Quest Diagnostics.
Tom Nguyen considered the location of the Huntington Beach Medical Campus, combined with the sufficient parking situation, as an excellent opportunity. He believes the location is superb given that Beach Boulevard, otherwise known as Highway 39, is adjacent to the facility. A combination of factors such as a high average household income, a large population within a 5 mile radius and a large amount of traffic in the area all add to the value of the location.
Southern California commercial real estate leader, NAI Capital, is an NAI Global network member. NAI Global has over 375 offices worldwide and over 6,700 local market leaders. NAI Global’s strength lies in the sharing of resources and tools between their members, so each member company can excel in their local markets. NAI Global is owned by C-III Capital Partners, LLC and was acquired in 2012 under management of CEO Andrew Farkas.
Clive Davis, the legendary music producer and the Chief Creative Officer of Sony Music, has been honored in a recent ceremony by the Hasty Pudding Institute of 1770. The Institute bestowed their highest honor, The Order of the Golden Sphinx, to Mr. Davis at a gala event held in The Plaza Hotel. The event took place on the 13th of April. The evening began with a cocktail reception with hors d’oeuvres such as foie gras and short rib quesadillas. After the reception, the guests and Harvard alumni filed into the main dining hall for an appetizer of tuna ceviche and avocado mousse. The main course consisted of filet mignon and cheesy gratin with a side of peas and asparagus. Unsurprisingly, dessert was a hasty pudding topped with vanilla ice cream.
Throughout the evening, the Chairman Andrew Farkas addressed the guests and discussed the club’s goals and the impact they have had over the years. The Harvard Krokodiles, the oldest a cappella group in Harvard performed “Sing, Sing, Sing (With a Swing)” by Benny Goodman before the main course was served. The Hasty Pudding Theatricals also performed on the night with the highlight being their own rendition of “Empire State of Mind” by Alicia Keyes, but with the ode being to Clive Davis rather than New York City. Clive also treated the audience to a surprise performance by his newest talent, Avery Wilson, after talking about the people who had influenced his career and personal life. Wilson performed a version of “A Song for You” by Donny Hathaway.
Andrew Farkas has played a pivotal role in the history of the Hasty Pudding Institute. He was the president of the club for two years during his undergraduate degree. He is currently the Chairman and has recently made a donation to the University so the club’s theatre is now named Farkas Hall, after his father Robin L. Farkas. Farkas Hall is home to the Hasty Pudding Theatricals, the Harvard Krokadiloes, the Radcliffe Pitches and plenty of other student-based productions and events.