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Fortress Closes Acquisitions of REITs DigitalBridge and BrightSpire Capital Assets for Total Consideration of Nearly USD 730m.

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Affiliates of US-based investment manager Fortress Investment Group LLC have completed transactions with US-based REITs DigitalBridge Group Inc. (NYSE: DBRG) and BrightSpire Capital Inc. (NYSE: BRSP), with total consideration of approximately USD 730m, the firm said.

Under terms of the DigitalBridge transaction, affiliates of Fortress are now General Partner and Manager to DigitalBridge's DCVR series of funds, co-investment vehicles and other non-digital real estate positions, representing approximately USD 2.7bn in combined assets under management at the time of the agreement's announcement.

The assets are diversified by investment type (senior debt, junior debt and equity), underlying asset class (office, hotels, land, multifamily), geography (US, Ireland, Spain, UK and France) and underlying industry (real estate, securities, energy).

Fortress provided a solution to DigitalBridge as it sought to resolve virtually all of its remaining "Other Equity and Debt" assets in a single transaction, while assuring continued responsible stewardship for DCVR investors by a leading global investment manager.

Under terms of the BrightSpire acquisition, Fortress has acquired five historical development and/or non-accrual assets for gross proceeds of USD 223m.

Fortress Investment Group LLC is a global investment manager. Founded in 1998, Fortress...

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