Posted by admin on May 10, 2018
Resource Apartment REIT III, Inc. has announced on February 12, 2018 that it has agreed to buy Tramore Village, which is located in Austell, Georgia. This area consists of a 324-unit apartment community located right outside of Atlanta, Georgia. Resource Apartment REIT III, Inc. is a company owned by C-III Capital Partners LLC, which is one of the many real estate companies owned by Andrew L. Farkas.
Austell is a submarket of Atlanta that is growing very rapidly, thanks to its proximity to Atlanta. Residents of Tramore Village have access to over 300,000 jobs as well as several medical facilities in the surrounding areas of the apartment complex. This makes the purchase an ideal acquisition for C-III Capital Partners LLC, as well as a growing asset to Andrew Farkas’ company.
With Atlanta, Georgia being as well known as it is, there are several notable companies that have opened up offices right by Tramore Village. Some of these companies include but aren’t limited to AllState Insurance, Vonage Solution, and Wellstar. Residents can access these companies in addition to surrounding health care facilities via public transportation.
C-III is always looking for new opportunities to invest in properties around the country. An example of a similar purchase this company made occurred in December 2017 in Lakewood, a submarket located in Denver, Colorado. Although this purchase was to acquire office space and not an apartment complex, it is also a rapidly growing area in Colorado that offers ample of public transportation, just like Austell.
C-III Capital Partners, LLC acquired Resource Apartment REIT III, Inc. in 2016 and has utilized the company to make purchases such as Tramore Village in up and coming urban areas ever since. C-III owns several other well-known subsidiaries like NAI Global, Real Capital Markets, US Residential Property Management, and many more. The purchase of Tramore Village will continue to push C-III Capital Markets in a positive direction under the leadership of Andrew Farkas.
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Posted by admin on May 3, 2018
Hurricanes Maria and Irma proved to be some of the most devastating natural disasters that the Caribbean has seen to this date. Some islands that were ravaged by these hurricanes include Anguilla, Barbuda, the British Virgin Islands, Puerto Rico, Saint Barts, Saint Maarten, and the US Virgin Islands. Although it’s easy for those not affected to move on from this disaster, it’s not so easy for many of the Caribbean islands to recover
That’s when IGY Marinas and Island Capital Group, both owned by Andrew L. Farkas, stepped in. Already known for his philanthropic work, Andrew Farkas made the decision to create the NYC Eastern Caribbean Relief Fund. This charity was made with the sole purpose of helping out Caribbean islands that are still facing the aftermath of Hurricanes Maria and Irma.
Although NYC Eastern Caribbean Relief Fund was just created in September of 2017, it has already raised $125,000. The charity’s end goal is to raise at least $5,000,000 to help bring resources back to the area. Every penny counts, as fewer tourists have been visiting these islands due to the consequences of the hurricanes. The tourism industry is extremely important to these islands and is what helps boost its economy.
Most importantly, locals rely on the yachting community as a form of transportation that can provide resources during this time. However, the rate of homelessness due to these hurricanes is still at an all time high. Donations made to the NYC Eastern Caribbean Relief Fund would result in more resources that can be brought into the islands by yacht.
Andrew L. Farkas has always been extremely invested in philanthropy and giving back to the community. He has put forth tremendous effort in helping communities just like the Caribbean islands, especially when they need it most. With the guidance of Andrew Farkas, IGY Marinas and Island Capital Group will continue to use NYC Eastern Caribbean Relief Fund as a resource to help those who were affected the most by Hurricanes Maria and Irma.
To make a donation and find out more about NYC Eastern Caribbean Relief Fund, visit their site here.
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Posted by admin on Apr 26, 2018
Resource Credit Income Fund, also known as the Fund, released its quarterly distribution from the end of 2017 earlier this year. Resource America, Inc. is owned by C-III Capital Partners LLC, which is owned by Andrew L. Farkas. Andrew Farkas is a leader in the real estate in commercial industry, and even owns other well-known companies such as Island Capital Group (ICG).
The Fund reported a distribution of 6.3% as of December 31, 2017. More specifically, the quarterly distribution was $0.175 per share. Altogether, there has been a total return of 24.3% between April 17, 2015 and December 31, 2017.
Although past performance typically doesn’t indicate future performance, Resource America, Inc.’s growth and overall worth has been impressive this past year. This can be seen in the fact that C-III Capital Partners, LLC obtains $8.7 billion in debt assets and real estate.
As CEO of both C-III Capital Partners and Resource America Inc., Andrew Farkas is constantly investing in new opportunities that will allow these companies to growth as reported by the Fund. Examples of how he has achieved this are with his acquisitions of property throughout the country, whether it be commercial or real estate.
Resource America Inc. has obtained 17,000 multifamily units across 20 different states. Platforms include nationally recognized real estate companies like Resource Real Estate and Resource Capital Corporation. Liquid alternatives include Resource Real Estate Diversified Income Fund and Resource Credit Income Fund.
Andrew Farkas currently serves as Chairman and CEO of both C-III and Resource America Inc., the latter of which he also serves as President. Andrew Farkas’ push for success is evident in the positions he currently occupies in both companies. He will continue to see that C-III and Resource America Inc. see steady growth in the upcoming year.
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