Fortress Investment to acquire a majority stake in development and non-accrual portfolio of BrightSpire Capital for $223m.

Fortress Investment, an investment management firm, agreed to acquire a majority stake in development and non-accrual portfolio of BrightSpire Capital, a commercial real estate credit REIT, for $223m. “We look forward to continuing to work with the Fortress team to effectuate this transaction which is another step toward simplifying our business by rebalancing our portfolio and reducing exposure to certain investment profiles that are no longer core to our strategy. We remain focused on delivering current and predictable earnings primarily through exposure to senior mortgages,” Andy Witt, BrightSpire Capital COO.