Fortress Investments Acquires FECI for $3.5 Billion

New York-based Fortress Investments has acquired Florida East Coast Industries for $3.5 billion in a deal that gives the New York fund management firm control over rail lines that were originally created by Henry Flagler in the 19th Century. The rail lines pass through the urban core of several Florida cities including Miami, and are ideal for the expansion of the mass transit rail system. One of the FECI lines runs through Uptown parallel to Midtown. Armando Codina, principal of Flagler Development, an FECI subsidiary, is the biggest shareholder in the deal.


Map: Blue line represents existing FECI rail line (probable future passenger line) in M&E and Uptown area

Advertisements

Leave a comment

Filed under Transportation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s