Andrew FarkasAndrew Farkas developed the vision, raised the capital, implemented the initial business plan and currently serves as the Chairman for Island Global Yachting. He is involved in virtually all of its capital-raising, acquisition and operating activities. In addition to Island Global Yachting, Andrew Farkas is the founder and Chief Executive Officer of Island Capital Group, a real estate merchant banking firm specializing in real estate, real estate securities, derivatives, servicing and management.
Island Capital Group’s portfolio companies presently own and/or manage approximately $150 billion in assets that include CDOs, CMBS, whole assets, whole loans, and other real estate oriented assets and operating businesses. Island Global Yachting is one of Island Capital Group’s portfolio companies, along with C-III Capital Partners, Island Funds and Anubis Advisors.
Prior to Island Global Yachting and Island Capital Group, Andrew Farkas founded and served as Chairman and Chief Executive Officer of Insignia Financial Group, Inc, a global real estate services company.
By 1998, eight years after Farkas founded Insignia with $5 million in equity, Insignia had become the largest owner and operator of multifamily real estate and among the largest owners and operators of commercial space in the U.S. The portfolio had a gross capitalization in excess of $10 billion. Insignia sold its multifamily business to AIMCO in 1998, which made AIMCO the largest residential REIT in the U.S. based on the number of controlled and managed units.
In July 2003, Insignia merged with CB Richard Ellis to become the world’s largest commercial real estate services company.
Andrew Farkas is involved in several health, education and welfare oriented charities, including The Fresh Air Fund, AMFAR, NARAL, and the ASPCA. He is an avid sailor and cook, married with four children, and resides in New York City.