CRANBERRY TWP — The new owner of Westinghouse Corp.’s Cranberry Woods campus appears to be a New York private equity group.
Documents filed Friday in the Butler County Recorder of Deeds Office indicate that Fortress Investment Group, a New York company managing $41.5 billion in assets, is responsible for CF Cranberry LLC, the mysterious holding company created days before the announcement of the $180 million sale.
A mortgage document identifies the LLC’s principal place of business to be Fortress Credit Advisors, which the SEC identifies as a subsidiary of the larger Fortress Investment Group. The mortgage was signed by Jason Meyer as an authorized signatory on behalf of the LLC. Meyer is the deputy chief operating officer for Fortress.
According to the investment firm’s website, its credit division has a real estate opportunity fund, focusing on “commercial real estate and real estate-related assets.”
Since the $180 million sale was announced Jan. 17, there had been no indications as to who now owns the property. The previous owner, Columbia Property Trust, did not announce the purchaser in its Jan. 17 press release. Nor did JLL, a firm representing Columbia that recruited the purchaser.
The identity of CF Cranberry LLC was somewhat of a mystery in the week following the sale’s announcement.
This is an excerpt from a larger article that will appear in Sunday’s Butler Eagle. Subscribe online or in print to learn more about the sale.