With big changes come big opportunities and this is especially true in the case of Fortress Investment Group. After being acquired by the tech giant SoftBank in December 2017, the company was able to become delisted from the New York Stock Exchange. While many people would see this as a bad thing, with the new regulations that public companies must comply to, this move is giving them more freedom to help their company grow. When Fortress Investment Group rang in 2018, they were already making some big moves in the alternative asset industry. One of the biggest investments that they have made recently that is catching the eye of investors and the news is Brightline, a private train system. The company currently has routes through big cities in Florida and expansion is on the horizon after partnering with Virgin.
The partnership with Virgin comes with a significant rebranding and will use their expertise in rail systems throughout the United Kingdom to help them grow. While their efforts in the world of travel are significant, Fortress Investment Group is also accomplishing big things in real estate throughout the United States as well. In Palm Beach, Florida, Fortress Investment Group purchased one of the most iconic retail spaces in the area, The Tiffany & Co. Building. The building that was constructed back in 1950 is more than 11,000 square feet of retail space and was purchased for $20 million. Along with retail space, they are making plans for high-class office space for much of the 2nd floor of the building.
The deal was financed through a partnership with Hyde Retail Partners and Kean Development and is expected to bring big changes to one of the most well-known locations for shopping in the United States. Also making headlines is a planned development in a historic building in Times Square in New York City. The development will feature a hotel, extensive retail space, and entertainment. Known as TSX Broadway, many big names are already expressing interest in the project such as Facebook and Amazon. Fortress Investment Group is partnering with Maefield Development and L&L Holding Company to bring this project to life.