Celebrating 30: Andrew Farkas Forms C-III

As Commercial Property Executive celebrates its 30th anniversary, we’re taking a look back at the most significant events in commercial real estate’s history. Stay tuned for our weekly posts highlighting these critical points, and follow along with us on our site and your favorite social media channels using the hashtag #CPETurns30.

2010

Andrew Farkas has been in the real estate industry for nearly 30 years, spearheading the creation of several notable firms. In 1990, he founded Insignia Financial Group Inc., creating one of the leading commercial real estate services firms before rival CBRE acquired the company for some $415 million in 2003. But Farkas made a comeback in 2010 with the formation of C-III Capital Partners, which has since become a leading commercial real estate services and investment management firm. He was able to expand the company’s capabilities through several major acquisitions, including its purchase of Centerline Capital Group’s servicing business and JER Partners’ special servicing and CDO management businesses in 2011. But one acquisition that brought C-III to global prominence was its 2012 acquisition of NAI Global, which had 5,000 employees and 350 offices worldwide at the time. The diversified firm has since launched mortgage origination, investment sales and title insurance businesses; acquired property management and brokerage firms (including its latest purchase of Resource America Inc.); and expanded its core businesses, including investment, fund management, and loan servicing.

For more CRE history, check out last week’s post on the fall of paired-share REITs.