Santa Clarita Market in the Sights of NAI Capital

NAI Capital’s strong foothold in the Southern California commercial real estate market is strengthening as expansion is still a priority for their local offices. NAI Capital’s Valencia office is seeking to continue its constant growth and unmatched reputation of being the largest firm in the region.

NAI Capital is looking to get a head-start in an area that is presenting as a future Southern Californian real estate hub. This potential stems from the quantity of undeveloped land in the Santa Clarita Valley. Typically, in the San Fernando Valley it is necessary to deconstruct to be able to construct, whereas in the Santa Clarita Valley, there is the ability to save time and money by constructing on undeveloped land. As the region grows, more opportunities will arise for larger commercial buildings and factories due to the large amount of space available in the region.

Yair Haimoff, executive vice president and branch manager of the Valencia office, has high hopes for the area as three industrial parks are set to begin construction by the end of the year. With the construction of those parks, he sees the Santa Clarita Valley as a great opportunity to work in and even live in. New homes are being built, which leads to businesses potentially moving in as well. Haimoff also recognized the low crime rate, little to no graffiti and a newer community as all positive factors to residential and commercial development in the Santa Clarita Valley.

NAI Capital is a member of the NAI Global network of over 375 offices. Each owner-operated commercial real estate brokerage firm is encouraged to work together and take advantage of the global resources offered to them. NAI Global was acquired by C-III Capital Partners while under the direction of Andrew Farkas in 2012. Farkas is currently CEO and Chairman of C-III.

Stephanie Brock Named President of U.S. Residential Group LLC

U.S. Residential Group LLC (USRG) has named Stephanie Brock, an industry veteran in property management, as their new President. Ms. Brock will manage all aspects of the company which currently is responsible for 40,000 apartments.

Al Fenstermacher, who Ms. Brock has replaced, will stay within reach of the company and serve as an advisor in the Office of the Chairman. There has been some other management position movement around the corporation, including C-III Capital Partners LLC’s own Mr. Geoffrey Woodward, who has been placed in the position of Chairman of the Board. USRG is an affiliate to C-III Capital Partners LLC.

Ms. Brock remarked that USRG has made great progress as an industry leader through their commitment to customer service, diverse client base and lastly their team of experts. Ms. Brock’s experience includes developing seven new markets for Riverstone Residential Group and re-creating a presence in Houston, Denver and Phoenix for Trammell Crow. More recently, she was a Senior Managing Director at Greystar Real Estate Partners, before moving to the U.S. Residential Group.

U.S. Residential Group LLC, with offices located throughout the country, has over 30 years’ experience in all types of economic environments. This fee-based firm helps manage professional real estate services to the owners of multi-family properties throughout the United States. The Andrew Farkas lead C-III Capital Partners LLC has overseen USRG since their acquisition of the firm in November 2011.  In addition to C-III Capital Partners, Mr. Farkas is the Chairman and CEO of Island Capital Group and CEO of Anubis Advisors.

Stephen Nostrand is Named New CEO and COO of NAI Miami

NAI Miami, which was recently ranked 20th in Business Journals “Top Real Estate Brokerages list”, has elected Stephen Nostrand to take the roles of chief executive officer and chief operating officer. Nostrand leaves his position as CEO of Coillers International South Florida to take on the spot at NAI Miami. Former CEO, Jeremy S. Larkin and former COO, Edward L. Schmidt will be taking responsibilities as Co-Chairmen, members of the board and lastly will overlook NAI Miami’s executive committee. Schmidt and Larkin’s new outlook will be based around strategic growth initiatives and revenue production. Larkin had some kind words, he was quoted as saying that Mr. Nostrand is the most qualified person for the job.

Nostrand earned his BS in Business Administration from University of Denver’s, Daniels College of Business and has since gained over 35 years’ experience in development and finance, commercial real estate operations, leasing, sales and management. At his previous position as CEO of Colliers International South Florida, Nostrand was leader of their client service platforms area. He is also an adjunct professor at the University of Miami, where he is a part of the Real Estate Development and Urbanism Master’s Program.

In a press release Nostrand expressed what a great opportunity it will be to work with top commercial real estate business owners, such as these.

NAI Miami is a real estate firm based out of Miami and the Florida Keys. NAI Miami is a member company of NAI Global, which is a network of owner-operated commercial real estate brokerage firms.  Each member is independently owned while related financially to the NAI Global brand. The NAI Global brand also provides technology and tools for their member companies to use.  NAI Miami is just one of 375 offices worldwide.

NAI Capital Names Timothy Foutz as New CEO

NAI Capital, based out of Encino, LA has appointed Timothy Foutz as their new chief executive officer. Mr. Foutz is an experienced broker with more than 40 years’ under his belt. He graduated from USC in 1970 and began his real estate career with Grubb & Ellis in LA and after 23 years of service, left in 1994 to become a partner of NAI Capital. A number of former Grubb & Ellis affiliates have also joined the NAI Global network; offices in Wichita, Alabama and Mississippi.

Some of Mr. Foutz’s career highlights include; leasing a 160,000 square foot Eaton Corp. property in Westlake Village, to Packard Bell Computers, which he later sold on behalf of Eaton to an investor to be developed into a community center and high school. He was also a key player in the sale of 30 acres of land, also in Westlake Village, where Dole Foods has since established their international headquarters.

Mr. Froutz is replacing current CEO Bob Scullin, who took the position in December 1993. Mr. Scullin’s wife, Cathy, is staying on as an NAI broker with the firm. Froutz has stepped in because he loves the company and believes he can do a good job at keeping the firm on track after Mike Zugsmith, long-running chairman, recently stepped down due to illness.

NAI Capital is a member company of NAI Global, a network of wholly-owned, independent commercial real-estate firms. The member companies work together and support client needs across state and country borders. There are over 160 offices and 6,700 brokerage professionals world-wide and each office is local market leader and deeply rooted in their community. NAI Global is owned by Andrew Farkas’s company, C-III Capital Partners.

Positive Picture Drawn by NAI Global Member’s Conference

NAI Carolantic Realty held its annual real estate conference in Raleigh, NC this week. The president of NAI Carolantic addressed attendees with a positive outlook on the next five years. Mr. Barnes believes that all going well, the market should hold strong through 2019. He does warn of a potential blip in the market in 2020 and asked the crowd of real estate professionals to be mindful of that. He also suggested that now is a good time to sell income-earning properties and take advantage of the current interest rates.

NAI Global’s Economist, Peter Linneman cautioned the attendees against an over confidence in the high price apartments trend we are seeing. He warned that with over 7,000 additional apartments due to enter the market in both 2015 and again in 2016, that apartment vacancies are expected to increase. He believes that millennials will start to buck the trend and instead opt to buy their own property instead of paying thousands each month to rent.

Barnes and Linneman also agreed that open-plan offices might be on the way out, with employees appreciating a private office more than other perks currently being offered. Now that the economy is picking back up and the jobs market is following, there is due to be higher competition for good workers, and offering a private office might just be the tipping point.

NAI Carolantic is a member company of NAI Global, a worldwide network of independently owned real estate firms. The company manages the network and supports the collaboration between member companies. It is owned by C-III Capital Partners, LLC and was acquired under the direction of their CEO Andrew Farkas in 2012.

Nebraska Member Company of NAI Global Launches New Website

NAI FMA Realty, the locally-owned member company of NAI Global in Nebraska has recently launched a redesigned website at http://www.naifmarealty.com/. The President of NAI FMA, Drew Stange, is confident the new website will provide new and existing clients with easier navigation, improved functionality, and above all else, an enhanced access to their information.

The site reflects NAI FMA’s mission to provide up-to-date and accurate information about the marketplace to their clients. Stange wants to use this platform to share their knowledge and experience, to continue to excel and ensure they remain the leading provider of third-party real estate management in Lincoln.

The website has been designed to offer a more user-friendly experience, including a responsive design and with more focus being placed on services for client owners, tenants, developers and investors. This highlights NAI FMA’s expertise in commercial real estate in Nebraska. New visitors to the site will be able to quickly locate the information they are looking for, such as property listings they are interested in and types of services they wish to know more about.

NAI Global is a network of more than 375 locally-owned office locations across over 55 different countries. It is the most powerful network of commercial real-estate companies, and it gets its edge by having member companies that are firmly established in the local marketplace and can provide local knowledge and expertise to its clients. C-III Capital Partners LLC (C-III), bought NAI Global in 2012, under the direction of their CEO Andrew Farkas. Mr. Farkas also founded and was CEO of Island Global Yachting.

Farkas Honored at TYWLS Breakfast

This year’s 2014 (Em)Power Breakfast was inspiring and successful. On October 15, more than 600 guests came together to praise the 2,200 girls served by The Young Women’s Leadership Schools (TYWLS) in New York City. The breakfast had four honorees to represent the confidence and determination each TYWLS student strives to mirror. These honorees included Idina Menzel, Dina Powell, Anna Quindlen and Andrew Farkas.

The Young Women’s Leadership Network was created to encourage students to use education to end the cycle of poverty. The network created The Young Women’s Leadership Schools to give at-risk students the educational tools they need to succeed. The schools are privately supported for sixth grade through twelfth grade. They are designed for girls who will be the first in their family to attend college. The TYWLS education model was constructed from intensive research into girls’ education and the array of challenges faced by students who come from families with low incomes. The organization opened in 1996 with a school in East Harlem. Today, there are five TYWLS schools in New York.

The honorees gave advice and insight to the students, as well as to the guests. The speeches included personal experiences, famous quotes and even emphasized the importance of making mistakes. Each honoree received a necklace by a gifted student from one of The Young Women’s Leadership Network Schools.

“I hope there’s one of those necklaces in that bag for me,” said honoree Andrew Farkas sarcastically.

The Young Women’s Leadership Network also has a program called CollegeBound Initiative. The program places full-time college guidance experts in public schools to work with students beginning in the sixth grade.

Fall Production to be held at Farkas Hall

The venue Farkas Hall is preparing to be the host for the fall performance “Bat Boy: The Musical.” The theatre will be welcoming audiences on opening night, November 14, until the last show on November 23.

Farkas Hall is a lively performance art space for Harvard students to grow and perform. Through funding from Andrew Farkas, Harvard Alumnus ’82, the theatre went through a major renovation and expansion. What once was a deteriorated 1888 structure was restored and turned into an inspiring and vibrant place for students to learn. The building was under construction from 2005 to 2007. Farkas Hall is now a 270-seat theater equipped with advanced lighting and sound systems.

“Bat Boy: The Musical” is an American Musical with a book by Keythe Farley and Brian Flemming. The music and lyrics are by Harvard alumnus, Laurence O’Keefe. Ally Kiley is directing the performance. The musical is about a young man who is half bat and half human. After numerous deaths in the boy’s hometown, neighbors begin to question him. The musical is mysterious, yet heartwarming and all intertwined with a big family secret.

The full ticket price is $12.00. Students, seniors (65+) and people with Harvard IDs can purchase tickets for $8.00. The shows begin at 7:30pm on Thursdays with repeat performances through Sundays, except one performance on November 23, which begins at 2:30pm.

For more information on ticket availability visit www.boxoffice.harvard.edu/Online/default.asp.

Source: OFA News

U.S. Residential Group Climbs Top Apartment Management List

U.S. Residential Group LLC, an affiliate of C-III Capital Partners run by Chairman and Chief Executive Officer Andrew Farkas, was once again deemed a top apartment management company in the United States. U.S. Residential Group LLC managed to jump the list 15 spots over the past year landing at rank #32, the largest move by any company on the list.

“While honored to be among the country’s top apartment management companies, I am very proud of our employees who have been able to maintain our standard of extraordinary results for our clients as we continue to grow our quality management company,” ” said USRG’s President Al Fenstermacher.

U.S. Residential Group LLC is a national full-service, fee-based multifamily management company for traditional and affordable communities. The company offers services ranging from marketing to contract administration. They combine the talents and expertise of experienced apartment professionals to develop strategies that best meet each client’s goals.

Clients of U.S. Residential Group LLC include pension funds, public companies, non-profits, public agencies, special servicers and private real estate investors. The company has corporate offices in California, Texas and Connecticut, as well as regional offices located throughout working areas.

C-III Capital Partners Services

C-III Capital Partners is a controlled affiliate of Island Capital LLC, which is a top real estate merchant bank. C-III Capital Partners is a national leader in investment management and real estate services. C-III Partners provides everything from debt solutions to real estate parity.

C-III Capital Partners can assist with commercial mortgage servicing (both primary and special servicing), commercial real estate lending, investment banking, property management, real estate brokerage and title insurance. C-III Asset Management LLC is a subsidiary of C-III Capital Partners. C-III Asset Management is a commercial real estate loan servicer (primary & special). C-III Asset Management is a special servicer for over $116 billion and primary servicer for $17 billion commercial real estate loans.

Andrew Farkas is the Chairman and Chief Executive Officer of C-III Capital Partners. Farkas is also the Chairman and Chief Executive Officer of Island Capital Group.

The main office for C-III Capital Partners is in Irving, Texas, but they also have offices in New York, South Carolina, Dallas, Tennessee, New Jersey and California.

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