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.

 

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(photos: phillip pessar)