Insignia: The Making Of A Superlandlord
In 1988, 27-year-old Andrew L. Farkas saw his budding business--syndication of real estate limited partnerships--crash and burn. His investors, including friends and family, took big financial hits, and Farkas came close to personal bankruptcy. Fast-forward 10 years. Farkas now heads up Insignia Financial Group Inc., a rapidly growing, highly acquisitive real estate services firm with a market capitalization of $700 million. After just eight years in business, Insignia is the largest manager of apartment housing in the U.S., has real estate holdings of $250 million, is a leading firm in commercial brokerage, and is among the top 10 residential brokers. Now, it is expanding overseas.
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