Fortress Investment Group is one of the widely acknowledged investment management companies that have impacted the business world immensely. It is based in New York City and it has been doing what many other companies foresee as an impossible dream. Since it was acquired by Softbank, a reputed Japanese telecommunications company, it has gone on to invest in many other platforms.
Fortress Investment Group was acquired by Softbank thanks to the impeccable leadership of Masayoshi Son for $3.3 billion a move that surprised many people worldwide. Since then, Fortress has gone on to undertake other projects such as the recent buy of Tiffany & Co. building for $20 million located at 259 Worth Avenue. It is estimated that the property will sell for more than &40 million in a few years. Hence, this is a great investment that those behind it will not regret at all and in near future.
Worth Avenue is one of the widely known retail streets in the USA and many investors rank it among the top most expensive streets in the nation. The Tiffany building has been in possession of the Madden Family associates for decades. The good thing about this deal for Fortress Investment Group is that it will continue to retain its respective tenants. The company is also planning to add upscale and establish top-notch office space in near future.
Despite its acquisition by Softbank, Fortress Investment Group played great roles in the accomplishment of the deal. Fortress provided and managed the funding of the deal via one of its reputed partners. The Fortress’s credit real estate division is accredited for seeing through the completion of the deal. John C. Kean, the Chief Executive Officer of Kean Development Company expressed his delight on the deal saying that each party is delighted about the deal and Tiffany & Co is a world-class building and its location is world-class. A Force of Innovation: Two Decades of Fortress Investment Group
Fortress Investment Group was established in 1998 by Wes Edens, Randal Nardone and Rob Kauffman. Its purchase of the Tiffany building in Worth Avenue is a great deal and it is not the last to hear from the company. Fortress is expanding on a daily basis and will keep making great deals. Click here