Andrew Farkas’s IGY Marinas is partnering with P&O Marinas, a subsidiary of Dubai port operator DP World, on a superyacht project in the south of France.
Under the partnership, IGY will provide a global network of commercial and tourist services while P&O Marinas will provide the technical and crew support.
The project will be located in Sète. Upon completion, the marina will accommodate 12 superyacht berths for vessels of up to 328 feet in length with a maximum draft of 23 feet. Other features of the project include electrical facilities, fuel service arrangements, in-slip grey and black water pump-out, high level security, and Wi-Fi.
Those docking at the marina will also have access to the world’s largest vessel support network, the IGY Anchor Club Strategic Partners, which offers a range of services from provisioning, crew training, full range insurance to emergency health services, and more.
Sète is known as the “Little Venice” of France and is located near Montpellier, the Côte d’Azur, and the Balearic Islands. It is an official Port of Entry, and is fully compliant with the International Ship and Port Facility Security Code. The project will also provide yachters with easy access to surrounding restaurants and shops.
The project is set to start construction at the end of this year.
Founded by Andrew Farkas in 2005, IGY continues to be a global leader in the yachting industry. IGY is one of the largest marina companies in the world, with a network of 17 marinas operating in 8 countries. IGY’s 300 slips accommodating vessels over 80 feet in length service more than 1,000 superyachts per year.
This past month, Resource Capital Corp. announced that it will provide a quarterly cash dividend to its shareholders for Q3 of 2017. The company is managed externally by Resource Capital Manager Inc., a subsidiary of C-III Capital Partners, where Andrew Farkas serves as Chairman and CEO.
The board of directors made the announcement on September 19th, declaring that the stock would yield a $0.05 cash dividend per common share. The dividend will be paid on October 27, 2017 to all shareholders with record of the stock as of September 29, 2017. This marks the fourth consecutive quarter during which Resource Capital Corp paid shareholders this dividend.
Resource Capital Corp., which has offices based out of both New York and Philadelphia, is a real estate investment trust. It focuses primarily on providing and managing commercial mortgage loans, as well as other debt investments related to the real estate industry. It has been a publicly traded company since February of 2006, and was acquired by the Andrew Farkas subsidiary in late 2016.
Resource Capital is one of many real estate subsidiaries under the umbrella of Island Capital Group, of which Andrew Farkas serves as Chairman and CEO. There he has successfully guided deals in the commercial real estate industry, where he has over thirty years of corporate experience. Throughout his career, he has been instrumental in the development of many successful firms, all the while maintaining active philanthropic roles in other organizations.
As a part of the world’s leading real estate network, NAI Horizon is constantly making new purchases for clients. The Arizona-based real estate company made an exciting acquisition this month. Represented by Senior Vice President Mark Wilcke, they purchased a manufacturing building at the Stellar Airpark in Chandler for nearly $2 million.
Wilcke represented East Valley Precision of Gilbert, a business specializing in computer numerical control milling, grinding, and waterjet cutting. Their business focus is on machining steel, aluminum, titanium, plastics, and other materials. East Valley Precision is aiming to expand and this property is a rare find. In the East Valley area, industrial buildings with yard space are becoming more and more scarce. The building will be used as a manufacturing machine shop for the quickly growing East Valley Precision company.
Many features of the property are especially beneficial for East Valley Precision, including the fenced yard, full-power loading, and taxiway access. The surrounding Stellar Airpark is a privately-owned, public use space. The 15,000 square foot building is located at 4148 W. Venus Way. The acquired property was built in 1998.
NAI Horizon is a commercial real estate company established in 1992, with offices in both Phoenix and Tucson. The company is a member of the world’s largest commercial real estate network, NAI Global. NAI Global has 400 offices worldwide, operating across the United States and in 54 other countries. NAI Global is a subsidiary of Andrew Farkas’ premier merchant banking company, the Island Capital Group.