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.

Farkas’s C-III Capital Partners Joins Start-Up Investment

C-III Capital Partners joined a group of investors in a fundraising effort for a project management start-up called Honest Buildings. The project management platform compiles data for property owners to make construction projects more efficient.

The investor group, led by Brookfield Property Partners LP, raised $13 million for Honest Buildings with the goal of helping the platform establish an industry-leading standard to provide large property owners greater clarity in construction practices.

Honest Building curates a database that gives property owners access to cost savings through greater wealth of information that is sometimes still compiled on paper spreadsheets.

Honest Buildings founder and chief executive officer, Riggs Kubiak, said the database has increased the net operating income for companies using the platform by increasing project speed and reducing the cost of construction. The organization surveyed 60 clients in 2016, and discovered that the companies collectively saved about $100 million.

According to consultants McKinsey & Co, the commercial construction industry is among the least digitized sectors globally, which underscores the low productivity and consistent cost overruns and downtime the industry experiences.

Annually, $10 trillion is spent worldwide on construction-related goods and services, according to McKinsey.

Kubiak said the start-up plans to move abroad to Canada first, and then other countries alongside Brookfield.

This investment by C-III Capital Partners aligns with chairman and CEO Andrew Farkas’s past strategic efforts within the organization, which have provided an impetus for growth and various acquisitions that have expanded the organizations capabilities. Under the leadership of Farkas, C-III Capital partners has become an industry-leader in asset management and commercial real estate services.

Farkas’s IGY Marinas Operational in USVI After Hurricanes

IGY Marinas’ Yacht Haven Grande in St. Thomas, the US Virgin Islands, is open and operational after Hurricanes Irma and Maria battered the area earlier this year.

IGY Marinas reports that the Yacht Haven Grande is clear of debris, and that nearly 70% of its slips have reliable power and water, and are currently in use. Its “D” dock section still requires work, but will be fully operational within weeks. IGY also reports high demand for their slips in due to the condition of other marinas in the area.

The infrastructure of St. Thomas has also seen considerable improvements since the hurricanes. Electricity is restored to more areas daily, and current estimates place the overall repower at more than 50% of the island. Cellular coverage has largely been restored, while cable and internet repairs are underway but require more time to be operational. There are no longer curfews or other restrictions to daily life on the island.

Cruise ship traffic has returned to a near daily basis, with 5 ship days bringing in over 20,000 visitors to the island. Taxis are back on the roads, and transporting cruise ship guests to different destinations. Excursion boats, day sails, dive stores, and snorkeling adventures are open and operating daily. Restaurants, and other businesses are open.

In October, Founder and Chairman of IGY Marinas Andrew Farkas joined the Virgin Islands Hurricane and Resiliency Advisory Group, which focuses on hurricane damage assessments and recovery efforts in the territory. The advisory group was given $1.4 million to aid relief efforts, which was generated by the United States Virgin Islands Recovery effort.

IGY Marinas is a subsidiary of Andrew Farkas’s Island Capital Group, and is a leading organization within the global yachting industry. The re-opening of its marina in the USVI is an indication of the territory’s improvement after the hurricanes, and also a testament to IGY’s continued commitment to the economic success and restoration of the USVI.

NAI Global Affirms Real Estate Markets’ Growth

NAI Global, owned by Andrew Farkas’s C-III Capital Partners, says that the United States retail, office, and industrial real estate markets experienced robust demand in the second quarter of 2017. Rising rental rates and sustained low vacancy generated a sound economic foundation in the United States’ top 21 markets.

NAI Global’s president Jay Olshonsky said investors can expect steady returns in the second half of 2017, due to sustained, positive economic trends and data.

The industrial sector saw net absorption rise in nine markets and fall in 12, but nationally, net absorption in the industrial sector rose from 70.6 million to 71.8 million square feet. Rents rose by 1.6 percent, but vacancy remained near 20-year-lows in the industrial sector, decreasing by 5.1 percent.

The office sector experienced a third consecutive quarter of 9.6 percent vacancy, continuing the trend of 10-year-lows. Nationally, rents saw a marginal decrease.

The retail sector experienced steady net absorption, construction, and vacancy, as well as a 1.6 percent growth in rents. Vacancy remained at 4.8 percent, seen in three of the last four quarters.

Olshonsky also said that the continued construction and deliveries exemplify a steadily growing investment environment, with another quarter of low volatility and reliable returns.

NAI Global is a leading network of independent commercial real estate firms, and was acquired by C-III Capital Partners in 2011 under the direction of Chairman and CEO Andrew Farkas. C-III Capital Partners is a commercial real estate and asset management organization, founded in 2010 by Farkas, and continues to expand its platform and portfolio both organically and through acquisition.

Farkas’s IGY Expanding in Latin America

IGY Marinas announced its expansion in Latin America with the acquisition of Golfito Marina Village, a 50-slip facility in Costa Rica.

The marina is owned by Hacienda El Dorado S.A. and will join IGY’s three other Latin American marinas: Marina Cabo San Lucas in Mexico, Red Frog Beach Island Marina in Panama, and Marina Santa Marta in Colombia. On November 1, 2017, IGY will take over all marina operations, management, and branding initiatives.

The marina is one of the only private, natural deep-water marinas in the world, and can accommodate vessels of up to 500 feet. Golfito itself is a historic Costa Rican town adjacent to government-protected rainforests and beaches.

Those docking in Golfito will have access to IGY’s large vessel support network, the IGY Anchor Club Strategic Partners, which offers provisioning, crew training, emergency health service, and multiple other services. Golfito Marina Village also partners with a leading yacht transport company to ensure high-quality transportation services. The marina is the only approved drop-off and pick-up zone for yacht transportation ships on the west coast of Central and South America.

IGY’s future plans for the marina include and expansion of an additional 135 slips and a full-service yard. The surrounding area houses around 25 retailers, an open-air spa, and a luxury hotel that is slated to open within the next two years.

Island Global Yachting was funded and developed by Andrew Farkas, who currently serves as its chairman. Farkas is involved in IGY’s capital-raising, acquisition and operating efforts. IGY’s portfolio includes 18 marinas in 9 countries, that service more than 8,000 unique vessels and approximately 100,000 customers each year.

Modern Office Design Trends are Shifting. Here’s How:

At Island Capital Group, Andrew Farkas and company are leaders in the commercial real estate industry. Every few years, the design of the typical office environment changes. Last month, Emily Wright of London’s acclaimed “The Spaces” design magazine sat down with workspace innovators to learn how the office space is expected to change.

Leading design consultants such as Despina Katsikakis, the woman behind the new offices of Accenture, Microsoft and Morgan Stanley, predicts that the office as a workspace will shift from the traditional layout of rows of desks. Instead, it will have spaces that offer greater comfort and foster more collaboration. This comes not only as a way for businesses to save money by using space more efficiently, but also as a way to provide flexible environments that fit different types of work in the office.

Lord Norman Foster, the architect behind Apple Campus 2 in California, thinks that the office will become much “greener.” He understands that the incoming young workforce is passionate about the environment and sustainability. Given this, Foster predicts that companies will shift their design methods to build more environmentally friendly offices. This focus on sustainability is becoming economically savvy, as well as a way attract younger members of the workforce.

Tamara Brisk, a managing director at WiredScore, predicts that offices will become more dynamic. She posited that spaces will be usable for multiple purposes to allow for a greater accessibility and therefore efficiency of space. For example, she suggested that cafeterias will be designed to be easily transformable so they can be used for hosting meetings at all hours of the day, and that companies may even build isolated spaces that focus on fostering deep creative thought.

As the use of space in offices evolves and new trends take shape, Island Capital Group looks forward to their continued work in the commercial real estate industry.

Farkas Subsidiary Appoints New President

Shifts in leadership are cause for excitement. C-III Asset Management LLC announced that Barry Davis will be the new president. This announcement comes after former president Kevin Donahue recently decided to step into an advisory role to spend more time with his family.

Davis served as the Chief Operating Officer of C-III Asset Management since 2011. Davis is skilled in the realm of real estate, with a wealth of leadership experience. Davis also has background in the loan servicing that C-III provides. There is plenty of faith in Davis’ ability to handle this new role well. President of C-III Capital Partners Frank Garrison stated, “We are fortunate to have someone of Barry’s caliber ready to seamlessly step into the role of President. I have the utmost confidence that his extensive industry experience and operational expertise will help position our business for future growth.”

Davis will be joining Senior Managing Director, Lindsay Wright, and General Counsel, Jenna Unell on the executive management team. With more than 20 years of experience, this team will ensure that the transition in leadership is smooth.

Mr. Davis joined the C-III team back in 2010 when Centerline’s servicing business was acquired by C-III. Davis served as Chief Operating Officer at two other organizations before beginning his tenure at C-III and Centerline, and has decades of experience in related jobs.

C-III Asset Management is one of the largest loan servicing companies in the United States. The company is a subsidiary of C-III Capital Partners which specializes in real estate equity and debt solutions. C-III Capital Partners is a subsidiary of Andrew Farkas’ premier merchant banking company, the Island Capital Group.

Farkas Subsidiary Implementing New Technology

In today’s real estate market, having a competitive edge is imperative. NAI Tampa, a member of the NAI Global network, has partnered with the marketing firm Buildout to help make their business dealings more effective.

Buildout created new online resources and apps for NAI. The new services allow NAI to automatically create and deliver documents upon request to a client. Since NAI has clients all across the globe, this helps with different time zones.

Along with website and digital upgrades, brokers are now implementing drones into their usual tools. The video captured by drones allows clients to see exactly how the property looks and what the surrounding area is like. They also allow for tours of a property.

While a drone tour is exciting, sometimes a client wants to feel like they are actually in the building. Another tool that commercial real estate agencies are now utilizing is virtual reality (VR). Firms are now beginning to use VR goggles to show clients what the property looks like and what it could look like if it were furnished. The possibilities are endless.

NAI Tampa still believes that classic methods such as email blasts and direct phone calls are the most effective. With so many new possibilities, it is no wonder that even firms with tried and true methods like NAI are making strives into new technology based ones.

As a subsidiary of C-III Capital Partners, NAI Global has been widely successful. With a variety of clients, NAI and C-III Capital Partners have been able to work together to bring their services to clients around the world.

Farkas Subsidiary Promotes VP to COO

Earlier this year, NAI Hiffman, a member of NAI Global, announced that it would be promoting Michael Flynn from Vice President to Chief Operating Officer. This is part of NAI Hiffman’s plan to expand their current operations.

Flynn has been in the commercial real estate business for over 30 years. His experiences in the industry combined with his leadership skills have made him the perfect candidate for this position. He was also one of the original team members that helped launch NAI Hiffman in 2000. Since then, he has continued to climb into various leadership roles while also helping to expand NAI Hiffman.

With this new position, Flynn will also continue to serve on the NAI Global Member Leadership Board.

NAI Hiffman specializes in commercial real estate in the greater Chicago area. This branch of NAI is responsible for some of the largest leasing deals in Chicago. Since 2000, many of NAI Hiffman’s brokers have been recognized for being amongst the top producers in NAI Global’s annual recognition program.

The NAI Global network of real estate brokers spans across the world with over 6,700 members in over 400 offices. Each of these members, like Michael Flynn, are experts in their respective commercial real estate markets. In total, NAI Global manages over 380 million square feet of property.

Andrew Farkas’ subsidiary, C-III Capital Partners, acquired NAI Global in 2011. His company, Island Capital Group, has strived to diversify their portfolio and make themselves known as real estate industry leaders. Since getting his start in commercial real estate, Farkas has been known for his successful achievements as well as his company’s diverse portfolio.

Farkas Subsidiary Nationally Ranked

U.S. Residential Group, a subsidiary of C-III Capital Partners, has been ranked one of the top 50 managers of 2017.

Earlier this week, the National Multifamily Housing Council released its 2017 rankings in a variety of categories. These include top owners, general contractors, developers and syndicators. These rankings help to determine the major players in the real estate business, specifically, those properties that house multiple families.

U.S. Residential Group this year rose to the number 30 spot on the top 50 managers list. This year, they managed 42,928 units of housing. This is an increase of over 2,000 unites since the 2016 rankings.

As a full-service multi-housing community management company, U.S. Residential Group manages over 200 properties across the United States. In 2016, C-III acquired Resource America. Earlier this year, U.S. Residential combined its operations with Resource America. This combination and the move into C-III allowed all three companies to diversify their portfolios of properties across the country.

C-III Capital Partners is known for its track record of creating value in a diverse range of markets. Their services include primary and secondary loan servicing, loan origination, fund management, and principal investment. They provide services to over $60 billion worth of commercial real estate.

C-III is a controlled affiliate of Island Capital Group. The firm is located in New York City and was founded by Andrew Farkas in 2003. As the founder and CEO of Island Capital Group, Farkas has had a long track record of successful achievements in real estate. His company’s acquisition of C-III Capital Partners has allowed the two companies to grow exponentially and become leaders in the world of real estate.

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