Few understand the intricate dependencies of the world of private equity and real estate funds. But one publicly traded name "seems" to be in dire straits as the stock price continues to plunge while the broader financial sector seems to be stabilizing.
In the area of real estate financing and ownership, no name stands out more prominently than the Fortress Investment Group (symbol: FIG). Some private and public entities, having established their beachheads in centers like Hoboken, are precariously balanced near an edge while tied at the hip to FIG.
How's that new office building at the southern foot of Washington Street coming along? We'll see...
2 comments:
Could you be clearer? Some of your entries seem to be random or perhaps aimed at a very small subset of folks - almost like it's an inside joke.
FIG stock traded at a new 52-week low of $1.80 on Friday, closing at $2.06. By coincidence, there's a penthouse on the market at Applied's Constitution development for $4.2 million. Some deep pockets getting a hole in them?
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