Centerline Capital Group

Farkas Climbs to the Top with New Business Ventures

Andrew Farkas is a businessman with a plan. His recent placement on the National Real Estate Investor’s annual “Top 10 to Watch” list can only serve as foreshadowing of the rise to the top that appears to be in the cards for Farkas. Paired with his financial success in Dubai, he seems to have his hands in all the right deals.

As the current Chairman and CEO of Island Capital Group and being involved in several yachting ventures, Andrew Farkas has made it clear he’s not the type to stay still for long. His investment in Centerline reflects his confidence in the company, which will continue to focus on affordable and conventional multifamily housing. Centerline provides real estate financial and asset management services, and news of its developer and investor partners has recently made international headlines. The company has come a long way since the implementation of its Low-Income Housing Tax Credit program 24 years ago. It’s raised nearly $10 billion of equity and financed more than 1,500 affordable multifamily properties in almost every state.

STRONG and ABOVE AVERAGE Rankings for C-III Asset Management LLC

C-III Asset Management LLC records ABOVE AVERAGE rankings in the category commercial primary and multifamily housing revenue bond servicer from Standard & Poor’s Ratings Services.  In addition, it was ranked STRONG as a commercial mortgage special servicer. According to the rating service, these rankings are stable and will not be subject to change in the near future.

C-III Asset Management LLC received its name on March 5, 2010, when C-III Capital Partners LLC, an affiliate of Island Capital Group, which was founded in 2003 by Andrew Farkas, acquired Centerline Servicing Inc. – the former name of the limited liability corporation. A consequence of the transaction was a split of Centerline in two entities. C-III examines the revenue bonds associated with the LIHTC portfolio, provides servicing, asset management and fund management for ARCap’s historical business line. Centerline Holding Co. works under CharterMac historical business lines by creating low-income housing tax credits (LIHTC) and offering agency lending. Read More…

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