Name

Fortis Property Group, LLC

Legal name

Fortis Property Group, LLC

Website

https://fortispropertygroup.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Real Estate Investment and Development

NAICS

Lessors of Real Estate (5311), Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Rental and Leasing Services (532)

SIC

Real Estate (6500), Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Condominium Association Management (BPAJAHAA)

Keywords

• Luxury real estate development
• Commercial property investment
• Residential condominium sales
• Value-add asset repositioning
• Property management services

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Real Estate Development and Property Sales: Fortis develops residential condominiums and commercial properties across New York, Boston, Dallas, and Austin, and sells completed units to individual buyers and institutional purchasers. Revenue is generated through the sale of developed units, with projects such as 540 West generating more than 5X equity multiple and Olympia Dumbo targeting record-breaking sale prices for the DUMBO neighborhood.
2. Commercial Property Rental and Management: Fortis owns and operates commercial properties including Class-A office towers (Chase Tower, Harwood Center, State Street Financial Center) and parking facilities. These generate recurring rental income from long-term credit tenants including JP Morgan, State Street Bank, Deloitte, and others. The firm also manages residential rental properties and multi-family assets.
3. Value-Add Asset Repositioning: Fortis acquires underperforming assets, invests capital to upgrade and reposition them, and either sells at improved valuations or continues to operate them. Examples include Dock Square Garage (rezoning to add residential above parking), State Street Financial Center (converting to multi-tenant from single-tenant), and multiple Dallas office assets where occupancy and rents were significantly improved through capital improvement programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Fortis Property Group is a private diversified real estate investment, operating, management and development company. It develops, owns and operates luxury residential condominiums and Class-A/AA commercial office properties across New York, Boston, Dallas, and Austin. Revenue is generated through condominium unit sales to individual buyers and through rental income from long-term leases to institutional credit tenants, as well as from value-add repositioning and disposition of opportunistic assets.

Product overview

Fortis Property Group is a private diversified real estate investment, operating, management and development company offering a portfolio of residential and commercial properties. The company's residential offerings include luxury condominiums and townhouses in Brooklyn (5 River Park, Polhemus Residences, Polhemus Townhouses, Olympia DUMBO), Manhattan (Seaport Residences, 540 West, The Hudson), and Boston (LaGrange, Dock Square Residences). Their commercial portfolio encompasses Class-A and Class-AA office properties, parking garages, and data centers across Dallas (Chase Tower, Harwood Center, The Point at Las Colinas, Galleria Office Towers), Boston (State Street Financial Center, Dock Square Garage), Austin (The Aspen Lake Portfolio), and Connecticut (Norden Park, Norden Data Center). The company also has legacy residential properties in Williamsburg including 184 Kent, Northside Piers, Atelier Williamsburg, Two12 Williamsburg, and 20 Bayard.

Differentiator

Problem solved

Functional benefit

Products and services

• Olympia - 30 Front Street (Olympia Dumbo) A 33-story, 76-unit luxury condominium in DUMBO, Brooklyn featuring sail-like architecture by Hill West Architects, interiors by Workstead, and over 38,000 sq ft of indoor and outdoor amenities including NYC's highest private outdoor tennis court at 75 feet. Condos start at $1.75 million with top-floor penthouses priced at $15.5M-$16M.
• 5 River Park A 15-story residential condo building at 347 Henry Street in Cobble Hill, Brooklyn with 25 one- to four-bedroom residences, featuring 20,000+ square feet of indoor and outdoor amenities including a garden pool, spa grotto, and rooftop parks. Residences priced from $975K for studios to $4.9M for three-bedroom penthouses; nearly 75% sold.
• Polhemus Residences A conversion of a landmarked 50,000-square-foot site into 17 luxurious condominiums in Cobble Hill, Brooklyn, featuring doorman services, duplex fitness center, residents' lounge, rooftop deck, and below-grade parking. Part of the River Park megaproject acquired with the LICH portfolio in September 2015.
• Polhemus Townhouses Eight luxurious townhomes on Amity Street in Cobble Hill, Brooklyn, featuring spacious open layouts, below-grade parking, private elevators, and high-end finishes on a 33,000-square-foot development site within the River Park megaproject.
• LaGrange A 21-story, 170-unit ultra-luxury condominium at 47-55 Lagrange Street in Boston's Midtown Area, walking distance to Boston Common, featuring modern design by Zarifi Interiors.
• Seaport Residences A 60-story all-glass luxury residential condominium at 161 Maiden Lane in Manhattan, featuring pool, spa, fitness center, and 360-degree views with 170,000 square feet of space. Over 70% of units placed in contract within 12 months of launch.
• Dock Square Residences A planned luxury residential condominium project above the Dock Square Garage in Boston featuring nearly 250,000 sf of new residential space with downtown and harbor views, made possible through a successful two-year rezoning effort.
• Chase Tower (Dallas Arts Tower) Dallas' tallest Class-AA office skyscraper at 2200 Ross Avenue, a 54-story asset with 1,274,448 rentable square feet featuring a trademark six-story high key hole, located in the Arts District with 85% occupancy. Major tenants include JP Morgan, Deloitte, Locke Lord, Norton Rose, Greenberg Traurig, Barrow Hanley, and Dallas Petroleum Club. Acquired in August 2016 at 72% occupancy.
• Harwood Center A 734,443-square-foot office skyscraper at 1999 Bryan Street in Dallas' Arts District, currently 90% occupied with major tenants including Jacobs Engineering (worldwide headquarters). Acquired in May 2006 at 80% occupancy; fair market value over $120M with IRR exceeding 45%.
• Harwood Garage A 505-space parking garage adjacent to Harwood Center in Dallas, developed in 2018 with Omnicom as the primary tenant under a long-term lease.
• The Point at Las Colinas An 18-story Class-A office building with 403,429 rentable square feet in Las Colinas, Dallas, featuring a four-story parking garage and lobby/common area upgrades. Acquired in August 2013 at 98% leased; fair market value over $95M with IRR exceeding 42%.
• State Street Financial Center (One Lincoln St) A 36-story, 1.1 million-square-foot trophy office tower in Boston's Financial District, 100% net leased to State Street Bank, with WeWork as a tenant since December 2018. Acquired in December 2006 and being repositioned as a Class A+ multi-tenant building.
• Dock Square Garage A 698-space parking garage at 20 Clinton Street in Boston adjacent to Faneuil Hall, with 16,100 square feet of retail space leased to Hard Rock Café. Acquired in September 2017 with successful rezoning to permit nearly 250,000 sf of new residential condominiums above the existing parking structure.
• The Aspen Lake Portfolio Three office properties totaling approximately 379,895 square feet in Northwest Austin including Aspen Lake One (Class AA, 205,071 sf), Tower of the Hills (Class A, 10-story), and Tower Point. Acquired in January 2014; fair market value over $125M with IRR exceeding 60%.
• Norden Data Center A 167,691-square-foot state-of-the-art data center and disaster recovery center at 6 Norden Place in Norwalk, CT, built for Cervalis, LLC as the largest lease transaction in Fairfield County in 2012. Sold in Spring 2017 with IRR of 53.7%.
• Norden Park A 612,000-square-foot flex property in Norwalk, Connecticut, primarily office with some industrial, acquired in December 2005 with plans for rezoning to a Class-AA senior living center.
• 184 Kent (Austin Nichols House) A seven-story, 338-unit residential apartment rental building at 184 Kent Avenue in Williamsburg, formerly the Austin Nichols grocery warehouse, with 101 unique floor plans. Developed in partnership with Marathon Asset Management.
• Northside Piers Two luxury residential buildings on the Williamsburg waterfront developed in partnership with L+M Development Partners and Toll Brothers: One Northside Piers (29-story, 180 units, 100% sold) and Two Northside Piers (30-story, 270 units, 90% sold).

Quantifiable outcome

• International Plaza (Dallas) sold for overall transaction IRR in excess of 300% (2008)
• +11 more outcomes

Named customers9 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• Business Council for the ArtsminorStrategic or Co-development Partner · 6 March 2026The nonprofit Business Council for the Arts partnered with Fortis to curate the 2,000-square-foot public art gallery at the Dallas Arts Tower (Chase Tower). The gallery features rotating exhibitions of North Texas artists and is part of Fortis's strategy to connect the tower with the surrounding Dallas Arts District.
• Equity ResidentialminorOthers · 1 January 2015Fortis sold the completed Atelier Williamsburg rental property to Equity Residential for over $80 million, generating more than a 4X equity multiple. This represents a completed development exit rather than an ongoing partnership.
• Cervalis, LLCcoreChannel Partner/ Reseller/ Distributor · 1 August 2012Cervalis, a premier provider of IT infrastructure solutions including business continuity, managed hosting, enterprise cloud computing, managed security, and colocation, signed a long-term lease for a new 167,691-square-foot data center and disaster recovery center at 6 Norden Place in Norwalk, CT. This was the largest lease transaction in Fairfield County in 2012 and the largest build-to-suit project in 12 years in Fairfield County.
• Marathon Asset ManagementcoreStrategic or Co-development PartnerMarathon Asset Management was Fortis's project partner on the 184 Kent (Austin Nichols House) development, one of the initial redevelopment projects on the Williamsburg waterfront that completely altered the composition of the now thriving NYC submarket.
• L+M Development PartnerscoreStrategic or Co-development PartnerL+M Development Partners collaborated with Fortis on Northside Piers, two luxury residential condominium buildings on the Williamsburg waterfront. One Northside Piers is a 29-story, 180-unit building that is 100% sold. Two Northside Piers is a 30-story, 270-unit building that is 90% sold.
• Toll BrotherscoreStrategic or Co-development PartnerToll Brothers partnered with Fortis on the Northside Piers project, one of the initial redevelopment projects on the Williamsburg waterfront alongside 184 Kent (Austin Nichols House).

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• The Related Companies: Large, privately held, vertically integrated real estate development and management firm headquartered in NYC. Most comparable to Fortis on luxury residential development in Manhattan/Brooklyn and trophy mixed-use projects, with similar scale and integration across investment, development, and operations.
• L&L Holding Company: NYC-focused owner, operator, and developer of Class-A office and mixed-use properties. Closely comparable to Fortis on trophy office repositioning (e.g., 425 Park, 200 Park Avenue) and vertical integration across leasing and asset management in Manhattan.
• Tishman Speyer: Global owner, developer, and operator of office, residential, and mixed-use properties with significant NYC trophy exposure. Comparable to Fortis on vertically integrated investment/development model and on Class-A office and luxury residential product.
• L+M Development Partners: NYC-based developer of market-rate and affordable multifamily and mixed-use properties; co-developed Northside Piers with Fortis. Directly comparable to Fortis on luxury and mixed-income multifamily development in NYC's waterfront neighborhoods.
• Two Trees Management Company: Brooklyn-based real estate developer responsible for Domino Sugar and other large Brooklyn waterfront redevelopments. Highly comparable to Fortis on luxury residential and mixed-use development in DUMBO/Williamsburg and on transformative neighborhood-scale projects.

Others

• Cushman & Wakefield: Global commercial real estate services firm providing capital markets, leasing, and asset management. Comparable as an adjacent ecosystem participant supporting the same institutional office tenants and brokerage relationships Fortis relies on for lease-up and exits.

Emerging players

• Toll Brothers: National luxury homebuilder and multifamily developer that partnered with Fortis on Northside Piers. Comparable at the project level for luxury for-sale residential product, though more focused on suburban for-sale homes than urban trophy development.

Broad incumbents

• Vornado Realty Trust: NYSE-listed REIT focused on NYC office and high-street retail assets. Comparable to Fortis on trophy NYC office ownership, but operates at much larger scale and as a public REIT rather than a private developer.
• SL Green Realty Corp. Manhattan's largest office landlord and a publicly traded REIT. Comparable to Fortis on Manhattan trophy office ownership and active asset management, though with broader portfolio scale and public-market capital structure.
• Boston Properties (BXP): Public REIT focused on premier office and life sciences properties in Boston, NYC, DC, and San Francisco. Comparable to Fortis on trophy Boston office assets (e.g., State Street Financial Center-adjacent portfolio) and on Class-A office repositioning strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fortis-property-group1

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortis Property Group, LLC