The New York based investment firm called the Fortress Investment Group has a rich history and was founded in 1998. The Fortress Investment Group was in the headlines when it got purchased by the multinational Japanese holding conglomerate Softbank. The company got stronger when it was purchased by the number one tech investor in the world. The company has just made a major purchase down in Florida of the Tiffany & Co. building down in Palm Beach. The building is located in the heart of Palm Beach on Worth Ave. Fortress Investment Group purchased the building for 20 million dollars and they have pans to keep the current leases in place and build an upscale office space on the second floor of the building. The company was able to make the 20 million dollar real estate purchase because the merger with Softbank really gave the company ahead of steam. The company has been making major moves and continuing to grow at this time. The company is also involved in a second venture in the Florida area. The Fortress Investment Group has also invested in a privately funded commuter rail system in the state of Florida as well.
The companies latest purchase in Florida has the city buzzing to see what is the next move with the property or how will the finishing touches with the property fit in with the current surroundings. The purchased was actually not purchased directly by the Fortress Investment Groups but it was actually a joint venture between two of the companies affiliates by the names of Kean Development Co. which is based out of Cold Spring Harbor, NY and Hyde Retail Partners that is based out of southern Florida. The Fortress Group is just the managers of deal and of the property. This property is so iconic that its sits right across the street from the Chanel store and is on the same level as Beverly Hills Rodeo Drive store front. The Fortress Group and both of its affiliates were excited to retain such a world class historic building.