Financial Business Update: Fortress Buys BofA’s NJ Campus, Barclays Shakes Up IB Unit
Fortress Investment Group (NYSE:FIG) is said to be buying a 12-builidng New Jersey office campus from Bank of America Corporation (NYSE:BAC), which is looking to reduce costs. The transaction might be the largest office sale on record in that state, exceeding one that went for $377.5 million in 2011. A spokesperson commented that “Corporate real estate ownership is not really a core business for BofA.”
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Barclays (NYSE:BCS) has conducted a shakeup in the organizational chart at its investment banking unit, says an internal memo seen by Retuers. It appears that the changes target the streamlining of some teams into a new groups under new lines of command, and also include a number of senior level exits.
Chief Executive Mike Farrell of Annaly Capital Management (NYSE:NLY) has exercised his option to buy 112,000 shares of company stock at $15.61; the shares closed on the day at $16.65. The transaction increases his position in the firm by 4.3 percent to 2.7 million shares.
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