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.

Hasty Pudding Institute of 1770 Gala Honors David Heyman

The Hasty Pudding Institute of 1770 honored David Heymen, a big-shot in the film industry, known for producing “Gravity” and all of the Harry Potter films.  The organization includes Harvard’s only co-ed undergraduate social club, as well as the Krokodiloes (an all-male a capella group) and the Theatricals, a group comprised entirely of men in drag.  These performers made for a funny sight when they danced around some of the more prominent guests, including hedge-fund manager Dan Loeb, a long-time friend of Heymen.

Other famous attendees included J. Crew boss Mickey Drexler, buyout executive J. Christopher Flowers, and Neil Patrick Harris, the 2014 Hasty Pudding man of the year.  The presentation honoring Heymen included humorous videos starring famous actresses he had worked with in the past.  Sandra Bullock appeared, sitting in a car with her son, claiming not to know who Heyman was, while Emma Watson complained that Heyman always calls her Emily.

In true “Hasty” fashion, the evening was a quick one, according to the vision of the evening’s host, Andrew Farkas (Bloomberg), the Graduate Chairman and Grand Sphinx of the Hasty Pudding Institute. By 8:30, Farkas, who runs his own real estate investment firm, Island Capital Group, was encouraging the guests to move to the after-party.  Of course, he still managed to have time to acknowledge sponsors, eat some actual Hasty Pudding, and have a little fun at his own expense before moving the guests along.

In a rare serious moment of the evening, Farkas also highlighted the club’s philanthropic activities, which include making grants for arts education and encouraging satire, comedy and the cultivation of young talent.

S & P Gives C-III Above Average Ranking

Standard & Poor’s Rating Service recently evaluated C-III Asset Management LLC and announced that the company’s rankings were “above average” as a commercial mortgage primary servicer and “strong” as a commercial mortgage special servicer. Since its last review, C-III has made significant changes that have contributed to its success such as hiring a new chief information officer and enhancing the technology system.

C-III representatives stated that they credit the firm’s new overall rankings to its experienced staff, stable track record, effective systems and technology and sound audit and controls. The ranking also demonstrates C-III’s assets-per-asset manager ratios, strong internal controls to address compliance and potential conflicts of interest, and efficient resolutions based on both volumes and time.

According to S & P’s evaluation report, the positions of both C-III servicer rankings are stable. The report continues by explaining that the firm has a successful track record managing commercial and multifamily mortgage loans. Simultaneously, C-III has demonstrated its commitment to invest in technological resources and continuous process improvement, both of which have helped the company acquire positive rankings.

S & P attributes C-III’s organizational effectiveness and depth of staff to CEO, Andrew Farkas, an industry expert with over 26 years of experience; six managing directors who report to the president, chief operating officer and general counsel. When compared to similarly ranked servicers, C-III stands out with regards to staff experience and tenure levels.

As a result, S & P is confident that C-III has the ability to retain its experienced staff, invest in technology and maintain sufficient workloads in order to successfully manage the loan portfolio and serve its investor clients.

Andrew Farkas Named Among 50 Most Important People in Commercial Real Estate Finance

To compile its self-admitted subjective list of The 50 Most Important People in Commercial Real Estate Finance, Commercial Observer consulted various industry professionals and lists of top producers. Additionally, charts noting the most active banks were taken into consideration.

While an emphasis was placed on the New York tristate region, geography was not the only factor to come into play. When battling the question of who is more important among brokers or lenders, predictions for 2013 investments had to be considered.

“Brokers control the deals and the bankers control the money – and the money makes the deal happen,” one executive, himself a broker, told Commercial Observer. But then: “I feel like the brokers have the upper hand in the moment.”

As Chairman and CEO of Island Capital Group, Andrew Farkas was named number 7 on the list. Noting a “big year,” C-III Partners acquired NAI Global last year, as well as its 5,000 real estate professionals. The firm manages four funds totaling a $2 billion investment.

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