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Golfito Marina Village Added to IGY Marina’s Portfolio

Keller Williams Costa Rica and Golfito Village and Resort signed a partnership that will allow for the former to help Golfito with its increase in renovations. Part of the first round of renovations was the addition of Golfito Marina Village. The marina is owned by IGY Marinas, a reputable company founded and owned by Andrew Farkas.

Golfito Marina Village includes 255 condominiums, 40 villas, a 135-slip super yacht marina, a village with 35 stores, and is situated on more than 40 acres of land. When looking for property to diversify IGY Marina’s portfolio, the company always ensures that it will be able to support such amenities. Given the transformative development Golfito is experiencing, this makes this part of Costa Rica an idea place for IGY Marinas to expand.

The Marina itself also includes several high-class amenities. These include 24-hour security, tournament fishing facilities, private slips, fuel dock, and a private club that will be built in the upcoming years. What makes Golfito Marina Village so unique is that it is the only approved part of the West Cost on Central and South America where yachts can be dropped off and picked up. This means that it will, without a doubt, be an area of high traffic for both the Marina and Golfito as a whole.

IGY Marinas owns marinas around the world in countries such as Italy, Mexico, St. Maarten, Panama, and France. All of the marinas offer world-class features, like those found in Golfito Marina Village. Golfito is unique because amid new developments, it still retains its historic charm and luscious landscape.

Resource Capital Corporation Reflects on Accomplishments

Andrew Farkas, Chairman of Resource Capital Corporation (RSO), recently participated in a conference call on Thursday, March 8, 2018. During this call, Andrew Farkas discussed RSO’s progress in executing a strategic plan to put RSO into a competitive progression. As a top leader in the real estate industry, Andrew Farkas is always looking for opportunities to help strengthen companies that he owns or that he’s Chairman of.

This conference call focused on RSO’s Q4 earnings during 2017. In addition to explaining RSO’s strategy in 2017, Farkas also discussed the strategy’s long-term affects: “2017 commercial real estate loan originated volume was up over 300% as compared to 2016 and CMBS investments by face amount were approximately $200 million greater than 2016. We expect these investments to make meaningful contributions to core earnings in 2018.”

Andrew Farkas also reflected on RSO’s first earning call and how the efforts of this company put forth in 2017 will begin to pay off in 2018, especially RSO’s core earnings. During this call, Andrew Farkas also made sure to congratulate management on its extraordinary work. He also made a point to state the performance of RSO continues to improve.

Not only is Andrew Farkas Chairman of RSO, but he also owns several companies that are very well-known in the real estate world. These companies include Island Capital Group, C-III Capital Partners, and IGY Marinas.

IGY Marinas Makes Second Purchase in Mediterranean

IGY Marinas announced that it has added Marina di Porto Cervo to its acquisition of ports. Marina di Porto Cervo is a marina that’s located in North Sardinia, Italy and provides berthing for yachts that are 160 meters long and contains 700 slips. IGY Marinas is owned by Andrew L. Farkas, a well-known professional in the real estate industry.

IGY Marinas made the decision to expand his company’s horizons by obtaining more property in Europe two years ago, specifically in the Mediterranean Sea. Since then, IGY Marinas has also acquired a port in Sète, France. This was IGY’s very first port that was purchased in the Mediterranean Sea, and is currently under development with the guidance of IGY.

The role IGY Marinas will play in supervising Marina di Porto Cervo is to help the port’s owner, Porto Cervo Marina S.R.L (PCM), with management and shipyard operations. The latter will consist of branding, customer service, and marketing, which are all scheduled to begin February 27, 2018.

As IGY Marina’s 19th establishment worldwide, Marina di Porto Cervo offers several amenities such as fine dining, resorts, shopping, and plenty of sight seeing. In addition to this, the port itself provides fueling services, vessel maintenance, and free WiFi. Sardinia is also a popular entertainment spot, as celebrities such as Black Eyed Peas, Ricky Martin, and John Newman. This makes Sardinia an ideal place for IGY Marinas to add property to its already diverse portfolio.

Midwest Investing in Real Estate Now More Than Ever

The future is looking optimistic for those who are planning to invest in commercial real estate in the Midwest. More specifically, a report conducted by Real Capital Markets, a global marketplace that is under the leadership of Andrew L. Farkas, stated that 36% of investors in the Midwest are more inclined to invest in industrial assets. This is slightly higher than the national average, which is 33%.

According to the report, multifamily real estate came in as a close second at 20%. However, multifamily homes are above the national average of commercial real estate at 35%. Some popular Midwest cities that investors are keeping their eyes on are Chicago, Indianapolis, Columbus, and Cincinnati.

Some additional key points to take away from Real Capital Markets’ Survey is the role that weather plays when looking for property as well as what a company plans to do with property after they acquire it. Investors tend to prefer either the southern part of the United States (37.7%) or the western region (31.8).

Well over half of investors, 60% to be exact, are interested in renovating or properties that they acquire. However, these types of properties are hard to come across. This had led investors to start investing in properties in new locations.

Real Capital Markets will continue to look for opportunities to invest in real estate in the Midwest, despite the challenges investors have faced when looking for properties to renovate. Some commercial properties Real Estate Markets currently own are Presidents Plaza in Chicago, Precedent Office Park in Indianapolis, and Governor’s Hill Portfolio in Cincinnati. Having a strong presence in these cities is important for its residents, as it increases resources available to them.

Steve Pastor Re-elected as NAI Global’s 2018 Chair

NAI Global continues to grow with the introduction of a new member on its industrial council. The new member, Steve Pastor, will be the chair of NAI Global’s Industrial Council for the year of 2018. Pastor is currently the Vice President of NAI James E. Hanson, a full service commercial real estate firm. NAI Global is a subsidiary of CEO Andrew L. Farkas’ C-III Capital Partners.

This is the fourth year in a row Hanson has been chosen as NAI Global’s Industrial Council Chair. This company boasts more than 400 offices in continents such as Latin America and Europe. Steve Pastor is currently the team leader of NAI Global National Logistics & Ports/Rail Practice Group, and has a plethora of experience in the real estate industry. For example, he was the Vice President of CBRE for 19 years, where he focused on industrial properties. Not only does this make him a well-qualified chair of NAI Global’s Industrial Council, but also an integral part of NAI Global as a whole.

The main purpose of the council is to promote services and innovation amongst NAI Global’s firms. Other council chairs include J.C. Casillas, Arthur Milston, and Alex Waddey, to name a few. Together, this council will strive to foster best practices within NAI Global and amid its customers. With this being said, the council also opens up the opportunity of unifying its customers and professional leaders.

NAI Global is a subsidiary of C-III Capital Partners, which was brought under Andrew Farkas’s leadership in 2010. Farkas serves as C-III’s Chairman and Chief Executive Officer. Andrew Farkas will continue to foster growth within both C-III Capital Partners and NAI Global with a strong council board.

NAI Global Reports Healthy Growth in Real Estate Sector

The second quarter of 2017 saw an impressive demand when it came to the real estate industry. This includes retail, office, and industrial real estate throughout 21 markets in the United States. This is good news for companies such as NAI Global, a subsidiary company of C-III. C-III is owned by Andrew L. Farkas, a well-known leader in the world of real estate.

This steady growth was a major turnaround from the quarter before. Specifically, net absorption for industrial real estate rose to 71.8 million square feet, which is up by 1.2 million from the quarter before. This is great news for properties owned by NAI Global and C-III alike, which exist around the country.

As far as office real estate goes, 19 markets experienced an increase in rent. The only two exceptions were the New York and Chicago markets. On the other hand, the retail estate industry saw an increase in rent across all 21 markets by first 1.6% and then 1.8%.

The FRICs, SIOR, and President of NAI Global expressed his enthusiasm his enthusiasm about this progression in real estate: “Sustained positive trends are an encouraging sign for investors looking for stable returns,” Jay Olshonsky said. NAI Global and C-III are enthusiastic to see where this growth will take their companies.

This could not have been done without the expertise and guidance of NAI Global and C-III’s leadership. In particular, Andrew Farkas has put forth tremendous effort to see that both his companies and the real estate community thrive equally well. With the recent acquisition of properties in Denver and Miami, the forecast for C-III certainly looks positive.

C-III Acquires Property in Metropolitan of West Denver

C-III Capital Partners, a commercial real estate services and asset management company under the leadership of Andrew L. Farkas, has recently partnered with Cress Capital to acquire Union Towers in Lakewood, Colorado.

Located at 165 South Union Boulevard, Union Towers is a 10-story, 210,000 square-foot office building. It’s also within walking distance from public transit station Federal Center. C-III and Cress Capital finalized this purchase in early December of 2017 for $25 million.

Minutes away from shopping centers and several restaurants, West Denver is expected to see tremendous growth in the near future. This is extremely beneficial for its residents, who have been experiencing increased living costs downtown and longer commutes.

C-III is excited about the potential of this acquisition. A company that already owns properties in major cities in the United States of America, C-III is eager to help communities such as West Denver thrive in every way possible. With over 20 years of experience, this company has a rich history of managing real estate across the country. Aside from owning property globally, C-III also owns properties in major cities such as Dallas, New York, and now Denver.

Andrew L. Farkas is a leader in real estate and finding new opportunities for thriving areas like Lakewood. As the CEO of C-III, Andrew Farkas has made sure that this company advances in the world of commercial and real estate services. His passion for philanthropy and his support of various charities reflects his desire to help various communities reach their full potential.

Andrew Farkas Honors Hasty Pudding’s Award Recipient

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.

Farkas’s IGY Marinas Sponsors Charity Fishing Tournament

IGY Marinas Cabo San Lucas sponsored a local fishing tournament to aid Hope for Los Cabos, a charity committed to Cabo’s disadvantaged families.

The 2017 Bisbee Black and Blue tournament ran for five days from October 23rd, and is an opportunity for hundreds of teams and anglers to compete in fishing for Black and Blue Marlin. The tournament began 37 years ago, and has continued to grow in Cabo in the years since.

Any and all marlin caught, regardless of whether or not they reached the 300-pound minimum to qualify, are donated to Hope for Los Cabos. This year, 120 teams caught 11,249 pounds of Black and Blue Marlin, which equals 33,747 meals to be delivered to the families in need of Cabo San Lucas.

In addition to the food donated to Hope for Los Cabos, the tournament also features a charity auction and raffle programs that raised nearly $200,000 for beneficiaries. Beneficiaries include the Green Scholarship Program and La Paz University, which awards 4-year marine biology scholarships to students to complete their education.

The tournament also places a focus on marine conservation. Any fish caught that is not a Black or Blue Marlin, including striped marlin, sailfish, and spearfish, is released back into the oceans, with top release teams also receiving a prize.

IGY Marinas, formerly Island Global Yachting, was founded in 2005 by Andrew Farkas, who currently serves as its chairman. Since its founding, IGY continues to be an industry leader as one of the largest marina companies in the world. IGY’s sponsorship of the 2017 Bisbee Black and Blue tournament, is one small way the organization gives back to the communities in which it operates.

C-III Capital Partners Asset Curbs Pollution

A property in Suisun City, California owned by C-III Capital Partners was recently outfitted with new storm drain filters and screens to curb pollution to the Suisun March.

The Heritage Shopping Center was selected for the upgrade because it is considered a hot spot for oil leakage, and C-III Capital Partners wanted to work with the city to solve the pollution problem.

Funding for the upgrade came from a competitive grant that Solano County applied for and received through CalRecyle to battle the improper disposal of used oil. The county will put the grant towards a used oil and filter collection program for rural areas, as well as a bilingual multimedia campaign to encourage recycling.

The city plans to install a series of retractable storm drain screens and storm drain inlet filters to other properties to better catch refuse before it reaches the Suisun Marsh. The city also plans to install socks filled with an absorbent to collect oil that leaks from parking lot vehicles. The newly installed screens and filters at the Heritage Shopping Center will be maintained regularly.

The Suisun Marsh is the largest brackish water marsh on the West Coast, and is a critical part of the San Francisco Bay-Delta estuary ecosystem. The marsh also serves as resting and feeding grounds for tens of thousands of migrating and wintering waterfowl, and also provides a habitat for more than 221 species of bird, and more than 40 species of fish.

C-III Capital Partners is a leading commercial real estate services company. Under the leadership of chairman and CEO Andrew Farkas, C-III Capital Partners continues to expand its capabilities and assets, like the newly-outfitted Heritage Shopping Center.

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