The Fortress Investment group has been a ground-breaker in terms of its ability to create new and technologically-advanced opportunities around the world. Not only was the investment brand built on the work of its founders, but the company has also broken many records over the course of its life, it has now joined forces with the Japanese financial giant, Softbank.
The 2017 sale of the Fortress Investment Group saw the brand become the first private equity company delisted from the New York Stock Exchange, Fortress was also the first to be floated onto the stock market.
Fortress has always been willing to explore different opportunities which present themselves in non-traditional areas of the financial sector. Technology-based investments have usually been sought out by the group as it found new ways of building its portfolio to over $4 billion in assets managed. The latest investment opportunity to be announced by the Fortress Investment Group is a real estate deal designed to update an area of New York’s Times Square around the iconic Palace Theater.
The Fortress Investment Group and its owners of Softbank have partnered with some of the leading real estate companies in New York to announce the construction of a retail, hotel, entertainment, and living space in Times Square. The L&L Holding Company and Maefield Development are partnering with Fortress to create one of the most anticipated new developments in the world. The 46-story TSX Broadway development will cost an estimated $2.5 billion and include retail space already being sought by some of the world’s leading consumer giants.
Fortress Investment group is keen to ensure the history of this area of Times Square is protected for the future and will restore the interior of the Palace Theater within the confines of the newly constructed building. Part of the process of creating the TSX Broadway building will include raising the Palace Theater to the third floor of the new construction which will be completed by 2021.
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