Investors have a strong appetite for bonds being sold by Brightline, according to Trains.com.
The train company’s recent $950 bond offering financing construction to Orlando was bought up by eager investors and oversubscribed, the website reported. The bond deal was completed on December 23.
Brightline and its affiliates intend to pursue new real estate development opportunities around MiamiCentral, it told investors in the offering documents.
Companies tied to Brightline control two pads immediately south of the Miami station, the documents state. The pads have a combined 2.5 acres, with rights to build up to 1.8 million square feet.
Two supertowers are planned by the company on those sites, according to filings with the FAA.
Brightline also recently resumed installation and testing of a new Positive Train Control system, Trains.com reported. Suspension of service has allowed for the new system to be installed without impacting customers.
The PTC system is required to be operational before Tri-Rail can use the tracks.
