New York & Tri-State + Midtown New York + Finance | June 9, 2021

Fortress Acquiring Colony Capital’s Non-Core Portfolio

Fortress Investment Group has agreed to acquire Colony Capital’s remaining Other Equity & Debt (OED) portfolio. Under the agreement, one or more Fortress affiliates will become general partner and manager to Colony’s CDCF series of funds, co-investment vehicles and other non-digital real estate positions, representing approximately $2.7 billion in combined assets under management. Total consideration is $535 million.

The combined OED portfolio is diversified by investment type (senior debt, junior debt and equity), underlying asset class (office, hotels, land, multifamily), geography (U.S., Ireland, Spain, UK and France) and underlying industry (real estate, securities, energy).

“This business and its underlying assets fit perfectly with our existing business and our deep wells of experience and expertise in managing highly complex investments across a full range of asset types, structures, industries and geographies,” said Fortress managing director Noah Shore.

Separately, Colony Capital announced a rebranding as DigitalBridge, effective June 22.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).