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.
Recently, Resource Capital Corporation, a C-III Capital Partners subsidiary, announced that it has appointed Matthew J. Stern as President of the company. His appointment highlights C-III’s commitment to help grow Resource Capital.
Before entering this new role, Stern was first a Senior Managing Director at Island Capital Group, Andrew Farkas’ real estate investment bank. He began his work with C-III and Island Capital in 2010. In 2016, Stern was the head of the C-III team that lead the acquisition of Resource America. Since then, he has been serving as their Executive Vice President.
With so much experience in regards to Resource America, C-III, and Island Capital, Stern is extremely qualified and prepared for this next position as President of Resource Capital Corp. Stern will be working to grow the company as well as the relationships it has already built. He will also be overseeing day-to-day operations.
As a subsidiary of C-III Capital Partners, Resource Capital Corp. has access to some of the leading experts in the commercial real estate market. C-III offers their services to nearly $60 billion worth of commercial real estate properties across the globe. Their diverse portfolio of properties and other real estate companies has lead C-III to become an industry leader.
As the CEO of Island Capital, C-III and Chairman of Resource Capital Corp., Andrew Farkas is known for his wide-ranging expertise in the world of commercial real estate. His success has lead to not only the expansion of his own company, but also that of all of his subsidiaries.