Keynote Lunch Speaker: Andrew Farkas, CEO Island Capital Group
Moderated by Adam Greenfader, Chairman of the Caribbean Engagement ULI
Andrew was previously Chairman and Chief Executive Officer of Insignia Financial Group, Inc. – which went public after three years and after merging with CB Richard Ellis became the largest owner/ operator of multifamily residential housing in the United States with approximately 275,000 apartments and over 200 million square feet of commercial space. Today, Andrew Farkas is currently Founder, Chairman, and CEO of Island Capital which presently owns a controlling interests in approximately $5 billion assets including C-III Capital Partners, NAI Global, PZR, and Island Global Yachting or IGY. IGY is the largest owner, operator and developer of yachting oriented resorts in the world. Mr. Farkas is also dedicated philanthropist with a specific focus in the arts, children, and the environment. Today, Andrew is committed to ESG (Environment Social Governance) investments in housing, hospitality, and infrastructure, that address key social imperatives. He is particularly interested in helping the Caribbean address its migration challenges caused by economic hardship.
Some of the questions in this Video:
- Puerto Rico and The Bahamas have been recently devastated by major hurricanes. What impact has this had on your lending?
- Is ESG important to your fund?
- Do you look at a project’s sustainable elements when making funding or acquisition decisions?
- How has the Caribbean region recovered from the COVID pandemic? Do you see any long-term changes to travel, tourism, or hospitality in the Caribbean?
- Do you work with island governments, with local Caribbean banks?
- How important is it for you to have local players as part of your management team or funds?
- IGY announced plans to achieve carbon neutrality at all facilities in the IGY network by 2025.
- Can you explain this program and how you help your guests to participate in carbon offsetting of their own commercial and recreational activities.
- If you could wave your proverbial magic wand for the Caribbean (Puerto Rico) what would you like to see change?
AG&T is a real estate development and consulting company founded in 1998 with headquarters in Miami, Florida. Our track record spans over 55 real estate development projects in Puerto Rico, Sint Maarten, Costa Rica, Panama, Mexico, Dominican Republic, and various other Caribbean islands.