August 12, 2026

New fund targets middle-market Manhattan acquisitions and the transformation of former office buildings into properties positioned for their next chapter

NEW YORK, September 30, 2026 — Fortis Investment Group and the Marino Group announced that they have secured $350 million in financing for Fortuna 2026, a real estate investment fund focused on middle-market acquisitions and the reconstruction, modernization, and repositioning of former office buildings in Manhattan.

Backed by capital from institutional investors and private-sector participants, Fortuna 2026 will pursue opportunities to acquire properties with substantial redevelopment potential and transform them into assets designed for contemporary demand and long-term value creation.

The fund’s strategy centers on a clear investment premise: a building’s previous use need not define its future. Through disciplined acquisitions, thoughtful planning, and focused execution, Fortis and the Marino Group intend to unlock the potential of properties whose locations and underlying characteristics offer a compelling foundation for reinvestment.

Investing in Manhattan’s Next Chapter

Fortuna 2026 will concentrate on middle-market properties where targeted capital investment and active management can make a meaningful difference. Its approach will combine acquisition analysis with a property-specific assessment of reconstruction needs, potential uses, operating performance, and the path to successful redevelopment.

Depending on each building’s physical characteristics, zoning, approvals, and financial feasibility, the fund will evaluate opportunities for modernization, adaptive reuse, and broader repositioning. The objective is to create properties that serve evolving tenant and community needs while maintaining a disciplined focus on investment economics.

Rather than applying a single redevelopment formula, Fortuna 2026 will assess each opportunity on its individual merits, with attention to acquisition cost, construction requirements, financing structure, and the potential for durable income and appreciation.

Institutional and Private Capital, Shared Investment Purpose

The financing brings together institutional and private-sector capital around a shared objective: identifying overlooked potential and supporting the work required to realize it.

Fortis and the Marino Group intend to deploy that capital selectively, emphasizing thorough due diligence, realistic project budgets, and hands-on oversight throughout the investment cycle. The fund’s priorities will include prudent capital allocation, clear execution plans, and accountability from acquisition through reconstruction and eventual stabilization or disposition.

The $350 million financing provides the platform with the capacity to pursue a portfolio of opportunities while evaluating each investment against the fund’s return objectives and risk parameters.

A Forward-Looking Platform

Operating from its New York base at 45 Rockefeller Plaza, Fortis Investment Group will bring its investment and real estate focus to the development of the Fortuna 2026 portfolio.

Under the leadership of D.J. Marino, Managing Partner of Fortis Investment Group, the initiative will emphasize the connection between investment judgment and practical execution: buying thoughtfully, planning carefully, and directing capital toward improvements that strengthen a property’s usefulness and value.

Fortuna 2026 represents a forward-looking commitment to Manhattan and to the potential of existing buildings to contribute to its continued evolution. Fortis and the Marino Group aim to pair that ambition with disciplined underwriting and a deliberate acquisition process.

About Fortuna 2026

Fortuna 2026 is a real estate investment fund sponsored by Fortis Investment Group and the Marino Group, focused on middle-market acquisitions and the reconstruction, modernization, and repositioning of former office buildings in Manhattan.

Many of the company’s other developments are rising along Homestead Place, a partially completed and expanding pedestrian plaza that aims to connect the stretch of former roadway to the area’s PATH station. Their newest development will take up the entire western frontage of Summit Avenue between Pavonia and Van Reipen Avenues.

Designed by C3D Architecture, the approved Homestead Market will be built in two phases as a pair of separate but connected 47-story towers, each rising 513 feet. The sheer number of units – a total of 1,517 residences- puts it just shy of the recently completed The Journal in terms of scale.

The first phase of the development includes 863 residential dwelling units, 87 of which would be designated as affordable housing. The initial portion also includes 26 hotel rooms accessed via a separate lobby, plus 2,227 square feet of ground-floor retail.

Phase two of the project would rise just south of the property and feature 654 units, with 66 to be designated as affordable housing. 15 hotel rooms plus 2,909 square feet of ground-floor retail are also included in this portion.

The unit mix at the development skews toward smaller units, with a whopping 1,142 of the total being studios. The complex will be rounded out with 214 one-bedrooms, 96 two-bedrooms, and 32 three-bedrooms.

However, the affordable housing units notably will be larger. 31 of the affordable residences will have one bedroom, 91 will have two bedrooms, and all but one of the three-bedroom units will be designated as affordable.

The property is located just a short walk from the Journal Square PATH station and does not include any vehicle parking component. The hotel rooms at the complex will be located on the lower floors of both buildings.

Planned amenities at the property include co-working spaces and a party room, lounge, and gym facility on the development’s 47th floor. The roof of the development will include both an indoor and outdoor amenity area.

The two towers will include a total of five retail spaces on the ground floor, and a pedestrian walkway will be built between them. The plaza will eventually connect to Homestead Place through two other towers currently under construction at 612 Pavonia Ave and 29 Van Reipen Avenue.

The project is eligible for the full building height by utilizing the Commercial Use Bonus and the affordable housing accommodations included in the Journal Square 2060 Redevelopment Plan.

The development was granted several other variances by the board during approval, including deviations relating to the tower front setback along Van Reipen, Summit, and Pavonia Avenues, side yard setbacks, setback, the tower base sideline setback, the depth of the retail space, and a partial loading zone exception.

A construction timeline for Homestead Place has not been announced, but Namdar is hard at work building both 612 Pavonia Ave and 29 Van Reipen Avenue just steps away from their newly approved development.