Fortress Investment Group Snags Up SuperValu

SuperValu distribution center in Pompano Beach was purchased by Fortress Investment Group in an outstanding $483 million portfolio deal. The breakdown of the agreement to purchase shows Fortress’ affiliate CF Grocery Distribution PropCo paying $66.4 million for the facility that stretches to 769,000 square feet. Royal Bank of Canada was the great financier that laid down the mortgage worth $68.41 million. Associated Grocers of Florida decided to sell to SuperValu last October for $180 million. In 2006, record reveal that the facility traded for $51 million.

They 51.5 acre site was built back in 1973. The grocery distribution business publicly announced it would sell eight of its facilities. All locations include Green Bay, Wisconsin, Commerce and Stockton, California, to name a few. As for Fortress Investment Group, it remains strong in the financial markets ever since its initial IPO. The founding executives are Randal Nardone, Wes Edens and Robert Kauffman. The company blossomed after a rough up and down period before 2006. Now the company has a net value of $32.6 million and there are no signs of it slowing down. One founder of Fortress Investment Group, Kauffman, could act on a dream of getting into the car racing business.

First her bought at least 50 percent ownership in a NASCAR racing company called Michael Waltrip Racing. Next, Kauffman was behind the wheel driving in popular races like the 24 Hours of Daytona. His other venture was to restore vintage muscle cars with his own venture called RK Motors Charlotte. It’s been something Kauffman wanted to do for over 15 years.Fortress Investment Group has grown leaps and bounds. They stand by their concept of using what the founders call an “alternative asset strategy.” The three men all have background experience from the well-known corporations of Goldman Sachs, Lehman Brothers, UBS and BlackRock Financial Management. The focus of the company is in a few areas:

  • sector-specific knowledge of companies and institutions
  • operations management
  • corporate mergers and acquisitions
  • asset-based investing
  • capital markets

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