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The Year of expansion at Fortress Investment Group

Fortress Investment Group is among the most significant global investment ventures that have marked years of successful business practices. Since starting operating in 1998, Fortress has made headlines with successful innovations, mergers, and acquisitions as well as opening new subsidiaries. However, 2018 stands as the most successful year as far as development and expansions are concerned. The year saw the final step in the integration between Fortress Investment Group and SoftBank Group, one of the leading global financial institutions. The process closed in December 2017 the same time Fortress stopped trading at the New York Stocks Exchange.

During the closing date of Fortress’ shares, each share converted to $ 8.08 marking the end of the company’s trading in the NYSE for one decade after a successful Initial Public Offering held in 2007. The purchase of Fortress Investment Group by SoftBank Group for $3.3 billion marked a new era for Fortress to merge with a financial company, a different field from its usual investment specialty. SoftBank Group spent part of 2018 integrating the management of Fortress’ property worth $40 billion in its strategies. Fortress Directors, Wes Edens, Peter Briger and Randal Nardone manage the property independently from New York and SanFranscisco.

In May 2018, Fortress Investment Group announced its interest in raising $400 million in funds to support companies intending to protect patent portfolios. Through the funding, the company would purchase the patents from particular companies and find ways to solve the problems associated with the violations of Intellectual Property. The process added another successful investment process to the Group’s portfolio Group in one year.

The purchase of a distribution center worth $66.4 million located in Florida was another big stride for Fortress Investment Group in 2018. The process took place through the company’s affiliate CF Grocery LLC. Florida happened to be an investment hub for the company because it also purchased the 16,374-square-foot Tiffany & Co. building located in Worth Avenue, Florida. The $20 million success of the project involved the collaboration of Hyde Retail Partners, Kean Development, and one of the Fortress’ affiliates. Although the building seems old having existed since 1950, the over 11,000 square feet of retail space and a jewelry store in place among other benefits are worth the price.

About Fortress Investment Group: www.thestreet.com/quote/FIG.html