• State Street Financial Center

    The State Street Financial Center is a 36-story, 1.05 million square foot trophy office asset located in Boston’s dynamic Financial District. The property is the headquarters of (and 100% net leased to) State Street Bank, one of the preeminent investment service and management companies in the U.S. Built in 2003, State Street Financial Center is one of Boston’s newest and most distinct office buildings, occupying a prominent location at the head of the Rose Kennedy Greenway, a newly created 30-acre stretch of vibrant parks and public gathering spaces winding through the Financial District. Fortis acquired this property in December of 2006.

  • NEC Building

    The NEC Building is a 526,000 square foot Class A+ office building in Las Colinas, Texas. The property serves as the U.S. headquarters for NEC Corporation, the global Fortune 500 Japanese technology company. NEC leases the entire property on a triple-net basis and subleases a portion of the building to AAA, the automotive association and insurer. Fortis initially provided mezzanine acquisition financing for this property in October of 2005. In June of 2006, half of the mezzanine debt was repaid and Fortis converted the other half into equity.

  • Norden Park

    Norden Park is a 650,000 square foot flex property (mostly office, part industrial) in Norwalk, Connecticut. Northrop Grumman occupies approximately 40% of the space. Fortis is now redeveloping the entire southern portion of this building and leasing up the final 80,000 square feet. Fortis acquired Norden Park in December of 2005.

  • Harwood Center

    Harwood Center is a 721,000 square foot office skyscraper located in the Arts District of downtown Dallas, Texas. The property is leased to multiple high-credit tenants including the U.S. Government and Omnicom Marketing Group. Fortis is now significantly upgrading various parts of the building and increasing the occupancy to above-market levels. Fortis acquired Harwood Center in May of 2006.

    See the “Harwood Center” Gallery

  • 1001 Frontier Road

    1001 Frontier Road is a 224,313 square foot office building located in Bridgewater, New Jersey, a suburb of New York City. The building is 100% leased to Phillips Van Heusen, a leader in the garment industry, and Hewlett-Packard. Fortis acquired this property in March of 2007.

    See the “1001 Frontier Road” Gallery

  • STIP-12

    “STIP – 12” is a 12-property, 1.8 million square foot portfolio of industrial and flex properties, located in 8 states and acquired by Fortis in May of 2006. Fortis contracted to buy 22 properties, but flipped 10 properties to a like-kind exchange buyer and used the proceeds from that flip as a significant portion of its equity for acquiring the remaining 12 properties. The properties are located in various states (Florida, Texas, Ohio, Maryland, Tennessee, North Carolina, South Carolina and New Hampshire) and leased to various tenants.

  • International Plaza

    International Plaza is a 1.1 million square foot office park (3 towers) in Dallas, Texas. Fortis secured a contract to purchase the three towers, two of which were 100% triple-net leased to JP Morgan Chase and the other was 45% occupied by various tenants. In March 2006, Fortis flipped the two JP Morgan Chase towers for a cash profit of approximately $6 million and a deferred profit of $10 million.

    Fortis used a portion of its cash profits to acquire the third tower, which Fortis repositioned to Class AA status by upgrading the lobby and building out a market-leading amenity package (e.g., conference facilities, fitness center, valet parking, etc.). Through this repositioning, Fortis was able to increase the occupancy of Tower III to 80%. In March of 2008, Fortis sold the property for an overall transaction IRR in excess of 300%.

  • Galleria Office Towers

    The Galleria Office Towers is a 1.4 million square foot, three-tower, Class A A office complex in Dallas, Texas. The property is leased to over 100 high-quality tenants from various industries. Fortis acquired the property on November 17, 2006. After increasing the occupancy from 90% to 98% and significantly increasing rental rates, Fortis sold these three towers in the Spring of 2008 and realized an IRR of 54.3%.