Fortress Investment Group LLC is a high-end, diversified private equity firm with a nearly $53 billion portfolio of assets. The investment manager’s home is in New York with global offices and assets as far as China. Like other companies, Fortress Investment Group faced some difficulties during the economic decline in 2008.
Over the past few years, the investment manager has made multi-faceted transactions that have given them recognition as an industry leader. Their dealings range in real estate, media, transportation, restaurants, and many more. Their acquisitions have saved many companies from bankruptcy and brought them into the era of innovative technology and rebranding, attracting investors from all over the world.
One of their largest ongoing projects based in their home state of New York, TSX Broadway, has attracted an additional $100 million from foreign investors even during the global pandemic of COVID-19. The TSX Broadway project is a $2.5 billion investment rooted in Time’s Square, with plans on a brand new luxury hotel, a permanent outdoor performance stage overlooking Times Square, ten stories of retail experiences, and giving a newly renovated and refurbished look to the Palace Theater, just to name a few. This will give New York’s highly foot trafficked tourist attractions a brand new appeal.
With their subsidiary, Brightline USA, Fortress Investment Group is creating faster and better ways to commute in some of America’s most visited places. The Brightline rail, a high-speed electric train, has already seen success in Southern Florida. Their new project in Florida, which connects Orlando to Miami, with a stop in Walt Disney World is expected to be completed in 2022. Which will set them on track for their expansion in Las Vegas, Nevada ending the route in Victorville, California, making what is normally an almost 3-hour commute to 90 minutes.
Fortress Investment Group’s projects in real estate have spanned from renovating the 2nd floor of Tiffany’s on Palm Beach’s Worth Avenue into a luxury-style condo, selling for $26.5 million, to acquiring 100,000 affordable housing units in Japan renovating them and increasing occupancy by nearly 60%. Fortress Investment Group is still working on new projects with their clients and investors and is set to have more projects starting in the coming years.
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