Chesterfield Mall, previously controlled by C-III Asset Management, sold

Posted by admin on Feb 18, 2020

Andrew Farkas is the Chief Executive Officer of C-III Capital Partners—a leading commercial real estate services and investment management company with principal offices in New York City and Irving, Texas. The company took control of a retail property known as the Chesterfield Mall, located near St. Louis, Missouri, following a foreclosure action in 2017 before putting a majority of it for sale in March of 2018.

The location is now set to be replaced by a new development aiming to mimic a walkable urban area. The development is being called Chesterfield Outlets and construction has begun to create The District, which is slated to include a new concert space in addition to other entertainment offerings.

With a leadership team that has been together for over 20 years and successfully built one of the largest fully-integrated real estate services companies, C-III Capital Partners uses their expertise, experience and platform to further enhance their track record, as well as deliver superior and long terms funds to their investors.

Student Leadership Network Hosted its 13th Annual (Em)Power Breakfast

Posted by admin on Oct 10, 2019

On October 10th, the Student Leadership Network hosted its thirteenth (Em)Power Breakfast. This breakfast celebrated the organizations students and their academic achievements. More than 9,000 girls who are impacted by the Young Women’s Leadership Schools in New York City and 15 Young Women’s Leadership Network were celebrated. This breakfast also celebrated business and philanthropic leaders who are committed to breaking the cycle of poverty through equalizing education.

Ann Tisch, SL Network Founder and President said “This annual event underscores our mission at TYWLS to provide young women with the best educational opportunities and resources to develop into the next generation of innovations, change agents, and leaders.”

TYWLS has helped give about $150 million in scholarships and financial aid for students going to college since 2001. These students have graduated from college at nearly four times the rate of their peers.

The (Em)Power Breakfast would not have been possible without help and support from Proskauer, Bloomberg Philanthropies, Fairstead, Estee Lauder Companies, Paul Weiss, Richard Cohen, Andrew Farkas, Fredda Cassell and Jim Maher, and Brad Ruskin.

C-III Asset Management LLC earns Morningstar Credit Rating affirmation for MOR CS1 and MOR CS2 Commercial Mortgages

Posted by admin on May 27, 2019

On May 23, the wholly-owned subsidiary of C-III Capital Partners LLC, C-III Asset Management LLC, was assigned affirmation by Morningstar Credit Ratings, LLC for its MOR CS2 commercial mortgage primary-service ranking and its MOR CS1 commercial mortgage special-servicer ranking. Andrew Farkas is the founder, CEO, and chairman of commercial real estate services and asset management company C-III Capital partners.

Morningstar considers many factors when affirming primary-servicer rankings. C-III Asset Management, LLC earned Morningstar affirmation based on their operational resources and staff experience, procedures for proactive asset administration, integrated and effective loan administration platform, and internal-audit and compliance program.

Despite reducing its special-servicing workforce in 2018, C-III’s affirmed special-servicer ranking recognizes its ability to provide strong senior leadership, experienced asset managers with an extensive track record of results, and well-designed technology.

Looking back on 2018, as of December 31, C-III’s primary-servicing portfolio included 241 loans with an aggregate unpaid principal balance of approximately $4.88 billion. The company was also named a special servicer one Freddie Mac securitization and 117 CMBS transactions that totaled 1,597 loans with an estimated unpaid principal balance of $19.75 billion. The company also earned recognition as servicer and special servicer for one legacy commercial real estate collateralized debt obligation that included two remaining loans. Lastly, C-III was named servicer on two CLO transactions consisting of 39 loans, with one loan in this group earning special servicer status. The company’s active special-servicing portfolio contained 224 assets in total, 66 of which were loans and 158 REO properties with a total unpaid principal balance of $3.75 billion.

Andrew Farkas Honors Hasty Pudding’s Award Recipient

Posted by admin on Apr 3, 2018

Derek McLane, a Tony and Emmy award-winning designer, will receive the Order of the Golden Sphinx Award at The Hasty Pudding Institute of 1770’s 2018 gala, scheduled to take place on April 16. Andrew L. Farkas, a renowned leader in the real estate industry, is the Chairman of this Institute. Founded in 1795, the Hasty Pudding Institute is the comedy and satire performing arts organization located at Harvard University.

Andrew Farkas remarked on Derek McLane’s talent in the following statement: “Whether you’ve encountered Derek’s work on a Broadway stage or at this year’s Oscars, you’re sure to have seen it. And so we are privileged to present the Hasty Pudding Institute of 1770’s highest honor, The Order of The Golden Sphinx, to Derek McLane, a man who creates the striking visuals and impressions that stay with us long after a show ends.”

Not only is Andrew Farkas Chairman of the Hasty Pudding Institute, but his family is also a sponsor of the organization. In addition to the Hasty Pudding Institute, Andrew Farkas is also involved with Playwrights of New York (PONY).

Andrew Farkas is additionally well-known across the nation for his roles as CEO of Island Capital Group, C-III Capital Partners, Resource America Inc., and Anubis Advisors. All four real estate companies are dedicated to managing a diverse group of real estate services throughout the nation through the leadership of Andrew L. Farkas.

The Hasty Pudding Institute is excited for this year’s Order of the Golden Sphinx Award recipient, Derek McLane, to receive this honor at the Institute’s 2018 gala.

Andrew Farkas Joins Virgin Islands Advisory Group

Posted by admin on Dec 22, 2017

In the wake of Hurricanes Irma and Maria, Andrew Farkas has joined the Virgin Islands Hurricane and Resiliency Advisory Group, which will help guide reconstruction and resiliency efforts in the territory.

The advisory group is composed of local officials and community members, in addition to business and environmental experts, as well as thought leaders from the United States.

The committee has at its disposal $1.4 million to aid relief efforts, which was collected through United States Virgin Islands recovery.

Under the guidance of Virgin Islands Governor Kenneth Mapp, the expert committee will perform hurricane damage assessments, and outline potential risks the VI could face within the next 30 years. The committee will also focus on developing long-term security and economic recovery in the VI, with attention to making the area’s infrastructure, homes, and businesses more resistant to future storms and natural disasters.

More in-depth areas of focus for the committee include the ongoing development and implementation of USVI response and recovery efforts, the streamlining of coordination and leverage of funding and volunteer efforts, a coordinated economic recovery plan, keeping track of federal disaster assistance funding and private donations, and policy recommendations and guidelines to increase the USVI’s resilience in the face of natural hazards.

Andrew Farkas has considerable interest the United States Virgin Islands, most importantly its recovery and growth after the recent string of hurricanes that have hit the territory. Farkas is the chairman and CEO of Island Capital Group, an industry-leading real estate merchant bank headquartered in New York City.