Category Archives: Investment Company

Fortress Investment Group Buys the Famous Tiffany Building

The New York-based asset management firm Fortress Investment Group recently made a multimillion-dollar purchase that could pay off big for investors. The Tiffany building at 259 Worth Avenue was built around 1950. In its earlier years, the Frances Brewster boutique operated successfully out of the business for decades. Fortress Investment Group plans on turning the building into something that will generate solid profits for investors for years to come.

Tiffany & Company

Tiffany & Co. has been leasing space in the building for almost 3 decades. Worth Avenue, the street on which the Tiffany Building is situated has been the place for the rich and famous to shop for nearly a century. Now, after the election of Donald Trump, the complex is expected to skyrocket in popularity and value as it is located about a mile and a half from Trumps Mar-a-Lago resort. The building’s original owners were the Madden Family, a local family that was at one time one of the wealthiest in the community. Officially, the Tiffany building was owned by Madden Family Associated Ltd. The property was estimated by The Palm Beach Post expected the property to fetch a hefty sum when it was listed on the market back in 2016. Before its purchase, it was estimated to fetch 40 million dollars, a price that breaks down to about 2,442 dollars per square foot. The property was overvalued by about 50%, as Fortress Investment Group procured the real estate for only 20 million dollars, about 1,221 dollars per square foot. Even at its new value, the cost per square foot is still astronomical in retrospect.

Fortress Investment Groups Plans For The Tiffany Building

Fortress Investment Group has been purchasing property around planned train stations in these communities. The department of transportation in Florida has announced plans to build a high speed (168 mph) rail system connecting Tampa and Orlando. Fortress plans on turning the Tiffany Building into a professional building and will more than likely be highly sought after leasing space for other companies looking to do business in the area.

Learn more: https://www.inc.com/profile/fortress-investment-group

Stream Energy: Doing More For Dallas

The city of Houston, Texas, had a rough time when Hurricane Harvey ripped through the area, leaving roughly 56 inches of water in its wake and devastation that many couldn’t fathom. It was this hardship that caused Dallas-based direct energy seller, Stream Energy, to spring into action. Although they were not the only ones to devote time, energy, and funds to the recovery of Houston, they were one of the first to do their part.

 

Stream Energy is no stranger to giving back, as they have built firmly bonded relationships with both Habitat For Humanity and the Red Cross. They also encourage their entrepreneurial staff to do the same by paying them to develop strong relationships with clients and providing a plethora of products and services to those clients; Employees who can do this consistently and successfully also receive a commission for their hard work. Recently, Stream Energy created their charitable branch, Stream Cares, to which both corporate level employees and direct sellers can choose the causes they wish to support.

 

It seems that one of the biggest causes that employees of Stream Energy are passionate about is helping the homeless population in their city of Dallas, Texas. By working closely with the non-profit organization, Hope Supply Co., Stream Energy employees were able to pay for the entrance fees and meal costs for over 1,000 homeless children to attend the Splash for Hope event. The event was hugely successful and was the first time that many of the children in attendance had visited a waterpark. Hope Supply Co. is able to donate many supplies that children need to have a meaningful childhood, such as diapers, clothing, supplies for school, and so much more thanks to companies like Stream Energy.

 

Another example of the generosity the staff at Stream displays is their quick action to assist the people of North Texas who lost everything in the tornadoes that ripped through their neighborhoods the day after Christmas, 2016. The associates working for the direct energy seller took matters into their own hands and worked closely with the Salvation Army to raise thousands of dollars for the people of North Texas, and the corporate level matched them dollar for dollar, making all the difference in thousands of peoples lives.

 

https://www.facebook.com/MyStreamSocial/

Fortress Investment Group to manage the only privately owned rail system in the US, dubbed Brightline

Commuting between Miami and Fort Lauderdale has always proven to be a headache for residents residing in these areas thanks to the significant traffic snarl-ups which occur during rush hour. According to residents, commuting between the two places when there is no traffic takes only half an hour but this time tends to double up during rush hour, and the scenario becomes even worse if there is any event disrupting regular commute. However, this is about to become something of the past thanks to Wes Edens’ Brightline train.

The brightline train will now ease the congestion that was there previously by offering an alternative commute option between the two towns. Additionally, it will be the only rail system that will be privately owned in the United States as it is under the management of the alternative asset management firm, Fortress Investment Group. The route between Miami and Lauderdale was officially launched in 2018 and has received a lot of press coverage thanks to the positive impact it brings to Miami, also known as the magic city. For instance, besides easing congestion significantly, the route also offers an eco-friendly travel option.

Before reaching Miami, the route was serving residents of West Palm and Fort Lauderdale. It now runs between the Magic City and Fort Lauderdale multiple times and starts its first trip from Miami as early as 7.10 AM and closes as late as 11.10 PM. The first departure from Fort Lauderdale takes place at 6.12 AM, and the last one takes place at 9.42 PM. Movement between the two towns will now take approximately 30 to 35 minutes as it eliminates any traffic disruptions. Besides reducing travel times, passengers will also enjoy other complimentary services which will help them take their mind off commuting such as WI-FI, USB and power outlets, eateries and snug leather seats.

Apart from making commuting easy, the Brightline train has further brought a series of changes to the towns it passes through. For instance, it has made residential homes close to the routes more attractive causing the prices of real estate to escalate. For example, more people are now looking to settle in South Florida thanks to the Miami Central station which has brought with it significant developments such as modern residences and eateries.

About Fortress Investment group

Fortress Investment Group is a global asset management firm established by Wes Edens, Randal Nardone, Rob Kauffman and Peter Briger in 1998. The firm which started off managing assets worth $400 million now oversees assets worth over $40 billion for investors worldwide. Fortress Investment group is based in Chicago and has a client base of over 1700 investors in different corporate arenas and is a source of income to over 900 people who are members of its staff.

Visit their website: https://www.fortress.com/