Fortress Investment Group has entered into a definitive agreement with Colony Capital under which one or more affiliates of Fortress 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.
Under the terms of the agreement, Fortress will acquire certain of Colony’s capital account positions in non-digital real estate, including positions related to a portfolio of approximately 40 positions encompassing more than 100 properties in Europe and the United States. The total consideration is $535 million.
The transaction represents a comprehensive sale of Colony’s remaining “Other Equity and Debt” (OED) portfolio, which was reclassified into discontinued operations last quarter in anticipation of a potential disposition to accelerate Colony’s transition to a fully digital business. Importantly, Fortress
