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Japan’s SoftBank Buying Parent Company Of MiamiCentral, Links To Beckham Stadium

Japan’s SoftBank Group Corp.  has agreed to acquire Fortress Investment Group for $3.3 billion in cash.

Fortress is the parent company of Florida East Coast Railway Corp., which owns MiamiCentral developer All Aboard Florida and Brightline (Fortress was reportedly looking at selling FECI last fall.)

According to Bloomberg, one of the main reasons SoftBank is doing the deal is for the “human capital” at Fortress, with the expectation that the executives there will be able to find investment opportunities around the world.

SoftBank also owns an 80 percent stake in Sprint, which is run by Marcelo Claure, a partner in David Beckham’s Miami MLS stadium.

Wes Edens is a co-founder and chairman Fortress, and SoftBank’s offer values his stake is at $511 million. Last year, Edens was said to have been considering investing in Beckham’s Overtown stadium.

 

miamicentral progress:

(photos: phillip pessar)

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7 Comments on "Japan’s SoftBank Buying Parent Company Of MiamiCentral, Links To Beckham Stadium"

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Anonymous
Anonymous

Imagine if those photos were metro rail lines in construction. I can only wish. Wonder if softbank can build us the metro rail lines.

Anonymous
Anonymous

Definitely makes sense for the Japanese, with their rail experience, technology and cheap financing.

Edin
Edin

First Trumps meeting with a Japanese prime minister in Palm Beach,and first good deal for Florida.Keep up good work!!!

William
William

I agree. Well said. Softbank and the japanese influence is good for Florida. Mauricio Claure is a true Miamian – Softbank will also help finance the last leg of the brightline to Orlando if necessary –

Anonymous
Anonymous

Yo Edin, the Japanese been doing business in Florida and the rest of the USA even before Trumps casinos started going bankrupt.

Anonymous
Anonymous

It is good to give credit where credit is due. President Elects one on one meeting with Masayoshi Son, the chairman of Softbank, a couple of months ago was good for ALL of America.
https://www.google.com/amp/www.forbes.com/sites/chloesorvino/2016/12/08/after-trump-meeting-softbank-billionaire-masayoshi-son-gains-2-billion-becomes-japans-richest/amp/

Anonymous
Anonymous

Give credit where credit is due for what? Softbank’s CEO made an instant two billion dollars because he met with Trump and that is supposed to benefit Florida, how? Even your own link said:

Son (Softbank’s CEO) met with President-elect Donald Trump about how the incoming administration will encourage foreign investment in the U.S. It’s still unclear as to where the funds will come from: In October, SoftBank launched global tech fund which could invest about $45 billion in the next few years across the world, though seemingly all of it is now promised to the U.S. Trump claims the SoftBank investment will create 50,000 jobs on U.S. soil.

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That’s the problem with you Rightwingers, you’re so gullible when you have a republican president.

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