Andrew Farkas

Andrew Farkas Supports NYLAG’s Cause

Andrew Farkas and his wife Sandi Farkas attended the 20th Anniversary Gala of the New York Legal Assistance Group (NYLAG) under the banner, “Empowering Women & Girls.” The Gala is a premier event for the nonprofit law office NYLAG, which focuses on low-income New Yorkers by offering them free legal services in civil law matters. Since it was founded in 1990, it has provided help with healthcare, immigration law, Holocaust compensation, LGBT rights, elder abuse, employment law, as well as family and matrimonial law to those who could not afford attorneys.

The Gala on March 30th at the Pierre Hotel in New York City celebrated NYLAG’s achievements of handling various legal needs of New York’s low-income women of all races, ethnicities, orientations, faiths and age. Celebrities and businessmen like Andrew Farkas attended the event to celebrate the company’s success and to contribute financially to the cause. Next to Farkas, NYLAG expected 350 prominent local, state and federal corporations, politicians and individuals to attend the event and to help raise a substantial amount that would go towards the law projects of the nonprofit organization. With 800 interns, law students and volunteer lawyers, but only 100 paid staff members, all contributions to the event will go a long way in supporting the needs of low-income New Yorkers.

ENSeC’s Impact on the Asian and Middle East Market

Island Capital Group has been involved in multiple international ventures since former Insignia Financial Group Chief Executive Officer Andrew Farkas founded it in 2003. The real estate merchant banking firm specializes in real estate operating businesses, real estate investment, and real estate securities.  It has operated as an advisor to the government of Dubai, United Arab Emirates. The government of Dubai hired Island Capital Group to be the sole consultant in the creation of the Emirates National Securitization Corporation (ENSec). ENSeC focuses on securitizing pools of commercial and residential loans on real estate in Dubai by working closely with local banks and government entities. Its advising and structuring services reach across various capital markets in Asia and the Middle East.

As part of Island Capital Group’s portfolio, Andrew Farkas has the opportunity to tap into ENSeC’s expertise and embedment in the local prosperous market in order to further establish his leadership in the global real estate industry. Throughout its life, ENSeC has been able to gain the trust of its clients by focusing on securing commercial and residential backed financings, small-scale enterprises and industries loans, operating cash flows, future cash flows, and consumer assets to facilitate the real estate finance sector.

ATM – A Valuable Asset to Island Capital Group

The world is more environmentally concerned than ever. Institutions, such as the US Environmental Protection Agency, focus on making sure developments and advancements do not come at the cost of nature. To support their mission, companies on a small and large scale need to assess the impact of their operations on the environment. Applied Technology & Management Inc., a coastal, marine, environmental and water resources consulting firm, is one of the companies that works closely with the developmental enhancements and their consequences. As part of the portfolio of Andrew Farkas’ company Island Capital Group, it assesses environmental impacts of proposed development projects.

Applied Technology & Management Inc. was founded in 1984 and has since been investigating mitigation plans to supply its customers with ecologically-balanced and long-term alternatives in order to tightly monitor, decrease or even eliminate potential impacts of future developments. The company’s services do not only cover the United States, but they also reach as far as Dubai. With nine offices, approximately one hundred professionals and involvement in over 300 marina projects, the ATM’s Coastal and Marine division has become an industry leader in its field. It is a highly valuable asset to Island Capital Group CEO Andrew Farkas with its high knowledge and specialization in marina and waterfront development.

Andrew Farkas on Panel at The Wharton School

The Wharton School of the University of Pennsylvania will hold its Spring Members Meeting on Wednesday, April 27th and Thursday, April 28th at The Rittenhouse in Philadelphia. The meeting is going to cover major economic issues with experts on panels replying to questions and addressing important topics related to property markets, capital markets and the economy. Andrew Farkas, Chairman and CEO of Island Capital Group, is going to take part in the discussion “Capital Markets—Which Way is Up?” Farkas is one of four panelists who will provide answers, perspectives and outlooks to questions dealing with trends of capital rates. They are also going to cover areas within the real estate investment world, including risks, debt, equity and how to manage them.

Andrew Farkas is going to be joined on the panel by Michelle Felman, Mark D. Gibson and Dean S. Adler, while Asuka Nakahara, Associate Director of the Zell/Lurie Real Estate Center at The Wharton School, is the moderator. The discussion will last approximately an hour and will lead to the next part of the meeting where keynote speaker Ronnie Chan, Chairman and CEO of Hang Lung Properties, will give his perspective on “The Future of China and Its Investment Risk.”

Andrew Farkas Completed the Insignia Financial Group Deal in 2003

Former Insignia Financial Group CEO Andrew Farkas is “on to the next new thing; he’s focused on capital markets,” CB Richard Ellis CEO Ray Wirta stated. Farkas stayed on throughout the merger of Insignia Financial Group with CBRE, but decided to leave the firm completely in order to focus his attention on his entity, Island Fund. The value of the agreement approximated $431 million in comparison to the previously expected amount of $415 million.

Following the completion of the acquisition, Andrew Farkas decided to purchase all of Insignia’s real estate investment assets for about $44 million and take on an estimated $7.8 million of employment-related contractual obligations.

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…

The Real Estate Industry and Albany in 2011

Only a year ago, the climate in Albany for the real estate industry seemed ever more threatening. The governor actually lived in a rent-regulated apartment and was proud of it. Democrats in the Assembly had prepared an onerous series of bills to strengthen rent rules. The Senate was in Democratic hands and passage of the Assembly package in both houses seemed possible. Today, with the Senate almost guaranteed to return to Republican control, the industry is in much better position to protect its interests–just as the city’s rent regulation system laws are set to expire at midyear. Read More…

IGY Adds Puerto Ricos Palmas del Mar Yacht Club to their Growing Fleet of Marinas

Island Global Yachting (IGY) announces the addition of Palmas del Mar Yacht Club, PR, expanding its Caribbean network of luxury yachting destinations.

“We are excited to welcome Palmas del Mar to the IGY family. Experiencing the staff’s hospitality and warm nature, combined with the marina’s megayacht capabilities, amenities and tranquil surroundings, makes it an ideal IGY marina destination and a great addition to the IGY Caribbean Anchor Pass flexibility,” says Tom Mukamal, President of IGY. Read More…

Island Capital Group announced Acquisition in March 2010

NEW YORK–(BUSINESS WIRE)–Island Capital Group LLC (“Island Capital”), a private real estate oriented merchant banking firm controlled by Andrew L. Farkas, and Centerline Holding Company (“Centerline”) announced today that through its affiliate C-III Capital Partners (“C-III”), Island had acquired 100% of Centerline’s institutional real estate debt fund management and commercial mortgage loan servicing businesses. This transaction immediately makes the newly created private company one of the largest special servicers of CMBS in the United States, as it is presently the named special servicer for approximately $110 billion of loans in 81 CMBS securitizations.

In connection with the acquisition, Island Capital along with Centerline also announced that Island had completed a total restructuring of Centerline’s financial structure and core business operations by eliminating approximately $1.6 billion of debt, contingent liabilities and preferred equity, providing a much needed injection of equity and liquidity and permitting the company to emerge as one of the healthiest and now most stable companies in its industry. Island Capital affiliates provided in excess of $100 million of new cash equity in connection with the acquisition and restructuring, and C-III will also own approximately 40% of Centerline, which will remain as a public company.

Click here to read more about Island Captial Group.

IGY opened a European headquarters in Barcelona, Spain

Dedicated to Expansion in The Mediterranean – IGY Opens Office in Barcelona, Spain
FORT LAUDERDALE, FLORIDA (September 15, 2008):  Island Global Yachting (IGY), one of the world’s premier owners, developers and managers of luxury marinas and yachting lifestyle destinations, has opened a European headquarters in Barcelona, Spain.  This office will oversee operations and acquisition/development opportunities in the Mediterranean for the company.  IGY recently launched a strategy for expansion into this region, and has added and/or will be adding in the near future new marina locations in Croatia, Greece and Turkey.
“We are excited to open this new European office in Barcelona and believe it is the ideal location from which to base our growth in the Mediterranean,” said Charles Garner, president of Island Global Yachting. “We are fully committed to expanding our presence here and to introducing to the Mediterranean the same quality of facilities and service for which we are known in the Caribbean, the Americas and the Arabian Gulf.”
Click here to read more about IGY.
1 2 3 4 5  Scroll to top