Fortress Investment Group’s Latest Expansion
Plans to expand Brightline’s route should be complete by 2021. The train route carries passengers from the Miami area to Orlando. The Florida Development Finance Corporation voted to approve the one billion dollar tax exempt train route could be built. Six hundred million of that one billion figure will be privately funded. There are additional plans of creating extending this route to Tampa.
Fortress Investment Group owns Brightline. The asset management firm has already experienced great success with completing other parts of the route. Brightline has been running trains from Fort Lauderdale to West Palm Beach since the first of this year. The company began running trains to Miami just a few months ago in May. This train pleases many of the car drivers who travel the route between Fort Lauderdale and West Palm Beach daily. The train alternative cuts down on the long rush hour traffic experienced by car drivers. The trains can reach a speed of seventy nine miles per hour when cars typically are going only thirty four miles per hour during rush hour.
Wes Edens, Rob Kauffman and Randal Nardone founded Fortress Investment Group in 1998. The firm has grown to being a large manager of assets by many investors. Their list of investors staggers over seventeen hundred people. Currently, the investment firm is responsible for over forty billion dollars of assets from their investors. Fortress Investment Group has purchased several other companies during its twenty year existence. The asset management firm typically acquired companies in the industries that relate to real estate, transportation, healthcare, infrastructure, media and financial and money management services.
Brightline will be the ultimate transportation provider of the state of Florida. Fortress Investment Group has many big plans to extend the train services to reach as many people as possible. The highways get overcrowded during rush hour. The state was in desperate need of a solution. The transportation company is looking to add another train station somewhere on the east coast of the state. Other locations may need to be added in the future due to the high demand of train passengers. To know more about the company click here.
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