CEO of Island Capital Group, C-III Capital Partners & Anubis Advisors
Andrew Farkas founded Island Capital Group in May 2003 and is its Managing Member, Chairman and CEO. He also serves as CEO of C-III Capital Partners and Anubis Advisors as well as Chairman at Island Global Yachting.
Mr. Farkas was previously Chairman and CEO of Insignia Financial Group, Inc. (NYSE: IFS), a global real estate services company that he founded in 1990. It merged with CB Richard Ellis in July 2003 to form the world’s largest commercial real estate services company. By 1998, Insignia had become the largest owner and operator of multifamily real estate and among the largest owners and operators of commercial space in the United States, owning, controlling or managing approximately 350,000 residential units and over 200 million square feet of commercial space. The portfolio had a gross capitalization in excess of $10 billion.
In October 1998, Insignia sold its multifamily business to AIMCO, which at the time made AIMCO the largest residential REIT in the United States. From 1996 through 2003, Insignia built its leading international commercial real estate services and principal investment firm, commencing with the acquisition of the New York City’s Edward S. Gordon Company. By 2003, Insignia had become among the top three leading commercial real estate services firms in the world with dominant presence in the United States, the UK, Europe, Asia and South America. In 2003, Insignia merged its global commercial property businesses with CB Richard Ellis to create CBRE, the largest commercial property company in the world.
Immediately following the merger Andrew Farkas founded Island Capital Group, a real estate merchant banking firm specializing in real estate investing, real estate operating businesses and real estate securities. Island presently owns controlling interests in a number of businesses which manage, in the aggregate, in excess of $125 billion of assets. Among these are Centerline Capital Group, a leading U.S. owner, financier and operator of affordable housing, C-III Capital Partners, one of the largest CMBS investors and Special Servicers in the US., and Island Global Yachting, the leading owner and operator of yachting oriented resorts in the western hemisphere.
Andrew Farkas is involved in The Fresh Air Fund, NARAL, the ASPCA, AMFAR, The Doe Fund and various other health, education and welfare oriented charities. He is married, with three children and resides in New York City.
Andrew Farkas received a B.A. degree from Harvard University in 1982, where he majored in economics.