C-III Capital Partners

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.

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.

C-III Capital Partners Closes Deal with NAI Global

C-III Capital Partners recently completed the acquisition of NAI Global.  C-III Capital Partners, led by CEO Andrew Farkas, provides innovative real estate equity and debt solutions and is engaged in a wide range of activities, including loan origination, primary and special loan servicing, fund management and principal investment.  NAI Global, based in Princeton, New Jersey, is the world’s leading managed network of more than 300 commercial real estate firms and provides technology, management, marketing and corporate services support to its members and clients.

With 350 offices in the United States and 55 countries across the globe, NAI Global’s network includes 5,000 professionals.  It will continue to operate under its current management as a separate company.

“The completion of this transaction represents a significant step forward in our strategy to build a fully diversified commercial real estate services company,” said Andrew Farkas. “With the NAI Global acquisition, we are gaining the world’s leading commercial real estate network and a tremendous foundation for future growth.  As we begin a new year, we look forward to partnering with the NAI team to provide enhanced services to the commercial and institutional real estate markets they serve as well as continuing to take advantage of other opportunities to grow and expand our platform.”

C-III Capital Partners Acquires U.S. Residential Group & Pacific West Management

Earlier this week, C-III Capital Partners publicized the acquisition of two affiliated multifamily property management businesses – Pacific West Management and U.S. Residential Group.  C-III Capital Partners (C-III) offers real estate equity and debt solutions through a broad range of activities.  Pacific West Management (PWM) is based in Irvine, California and U.S. Residential Group (USRG) is based in Carrollton, Texas.  PWM and USRG manage around 24,000 multifamily units located in 12 states.

“The USRG and PWM acquisitions represent C-III’s next step in creating a fully diversified commercial real estate services company,” said Andrew Farkas, CEO of C-III.  “With the same leadership team that built Insignia, C-III is focused on building a diversified real estate services company designed to meet the demands of all constituents in the commercial real estate industry in today’s environment. We are confident that USRG, its management team and its strong client relationships will make valuable contributions toward achieving C-III’s goals, and we look forward to serving USRG’s clients and enhancing and expanding the services C-III and USRG can provide to them.”

As a result of the acquisition, PWM and USRG will operate as one unit under the U.S. Residential Group name.  Alan Fenstermacher will continue to lead the current management team.

C-III Capital Partners and Colony Capital to become Grubb & Ellis stakeholders

C-III Capital Partners, an affiliate of Island Capital Group, is set to become a significant stakeholder in Grubb & Ellis with Colony Capital, Grubb & Ellis announced today. Grub & Ellis has entered into exclusive negotiations with a subsidiary of C-III Capital Partners regarding what it called “the strategic transaction.”

A C-III affiliate also will invest $10 million in Grubb & Ellis through the expansion of the company’s existing $18 million credit facility with Colony Capital and purchase $4 million of Colony’s existing facility.

Andrew Farkas, chairman and CEO of C-III Capital Partners, said the agreement would put Grubb & Ellis on firmer footing.

“C-III Capital Partners and Colony have the capital base and industry expertise necessary to bolster Grubb & Ellis’ client offerings,” Farkas said.

Read the original article on The Real Deal.

Andrew Farkas Helped Wife Create Pony Fellowship

Sandi Goff Farkas, wife of Andrew Farkas, created the Playwrights of New York (Pony) Fellowship.  This fellowship provides an apartment to live in for a year and a monthly stipend to help support emerging playwrights.  As a playwright herself, Sandi noticed many great ideas weren’t getting written into screenplays because of the lack of support, which Pony now offers.

Andrew Farkas, CEO of C-III Capital Partners, helped Sandi create the fellowship by buying an apartment for the playwrights receiving the fellowship to live in.  Farkas also asked 12 friends for $2,500 each “to support a playwright for a month.”

On Tuesday, October 11, Sandi Goff Farkas was awarded the first ever Lark Risktaker Award for the creation of Pony.  The event was held at the Midtown offices of the Lark Play Development Center.  A previous recipient of the Pony Fellowship, Katori Hall, who wrote the play “The Mountaintop”, was at the event to give Sandi her award.  Katori’s play started at the Lark in 2007 and opened on Broadway this week.

Andrew Farkas’ C-III Capital Partners Acquired JER Partners

C-III Capital Partners, a diversified real estate services firm led by Andrew Farkas, announced Tuesday that it has acquired the commercial real estate special servicing and collateralized debt obligation management businesses of JER Partners for an undisclosed sum.

JER is the named special servicer for $35.5 billion of commercial real estate loans, of which approximately $4 billion is currently in special servicing and under active management. C-III will merge JER’s special servicing operations into its wholly-owned special servicing firm, C-III Asset Management. With the acquisition, that company is now the named special servicer for approximately 14,000 loans with an aggregate balance in excess of $152 billion, of which approximately $17 billion is currently in special servicing.

“This acquisition strengthens C-III’s position as one of the top three special servicers in the country and advances our growth strategy,” said Andrew Farkas, CEO of C-III Capital Partners. “Special servicing is a key foundation of our strategy to create a fully-diversified commercial real estate company.”

The acquisition of JER’s special servicing and certified debt obligation management businesses follows 16 months of growth for C-III. It purchased Centerline Capital Group’s commercial loan servicing and institutional real estate debt fund management businesses in March 2010. Since that time, C-III has successfully launched mortgage origination, investment sales and title insurance businesses and expanded its principal investment, loan origination, fund management and primary and special loan servicing businesses. Two months ago, it announced its agreement to acquire NAI Global, the largest network of independent commercial real estate services firms worldwide.

Mr. Farkas also founded and heads Island Capital Group, a real estate merchant banking firm specializing in real estate investing, real estate operating businesses and real estate securities.

Read the full article on Crain’s New York Business.

JER Partners Commercial Servicing Business is Andrew Farkas’ Latest Acquisition

Andrew Farkas‘ C-III Capital Management acquired the commercial real estate special servicing and collateralized debt obligation management business of JER Partners for an undisclosed amount, the company announced today. JER is the named special servicer for $35.5 billion of commercial real estate loans, of which $4 billion is under active management. In May the firm sold the defaulted loan on Kent Swig’s 80 Broad Street to Savanna Investments for about $66 million (note: correction appended).

C-III will take control of all of JER’s assets, and will merge its servicing portfolio employees into its asset management division. The firm has been on a bit of a buying spree in the last 18 months, acquiring both Centerline Capital Group’s commercial loan servicing business in March 2010 and commercial services firm NAI Global in June 2011. As previously reported, Andrew Farkas is one of several high-profile firms that is strategically purchasing loan servicers to profit off of underwater boom-year loans.

“This acquisition strengthens C-III’s position as one of the top three special servicers in the country and advances our growth strategy,” Farkas, the firm’s chairman and CEO, said in a statement. “Special servicing is a key foundation of our strategy to create a fully diversified commercial real estate company.”

Read the full article on The Real Deal.

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