Fortress Real Capital

Fortress Real Capital

August 24, 2011 09:59 ET

Fortress Real Capital Welcomes Tony Amendola to the Senior Executive Team

TORONTO, ONTARIO--(Marketwire - Aug. 24, 2011) - Fortress Real Capital, a leading real estate investment company located in Richmond Hill (Ontario), today welcomed Tony Amendola on board as Vice President of Realty and Institutional Sales.

Tony brings with him more than 25 years in the financial services industry and has always had a focus on Real Estate. Most recently, Tony was at a senior level position in the Sales department at one of North America's largest land banking investment companies.

"Fortress is thrilled to have Mr. Amendola join our team. Tony has a proven track record of success in real estate and banking and also in the arena of institutional clientele" said Jawad Rathore, Chief Strategic Officer at Fortress Real Capital.

Amendola's role will be to grow the realty unit into a private service brokerage for Fortress projects and clients, assist in the development of the distribution network and further expand the institutional sales opportunities for projects. Joseph Livolsi, part of the Fortress head office team, sees Amendola's arrival as a sign of bigger things to come. "Having Tony here to establish Fortress Realty gives us a real verticality to our business" said Livolsi. "His experience in so many different arenas will help Fortress expand our range of services and provide clients with a wider breadth of options."

It was new opportunities like this that attracted Amendola to Fortress. Already a successful executive at a 30 year old company doing over a half a billion in annual sales, Amendola was looking for a chance to bring his high level knowledge to a ground floor project like the Realty division. "I have a chance now to really craft this into what I think a successful business unit should be", gushed Amendola. "I can employ my years of experience to help grow this part of Fortress. The type of growth here is so exciting and I am thrilled to be a part of it and really help create something special."

The latest numbers certainly back him up. Urbanation's latest report showed a record breaking quarter (2011 Q2) for sales in Toronto, the largest market for Fortress projects. Several new developments are slated for Ottawa and Calgary as the roster of sites expands out of the GTA. The first ever Fortress project outside of Ontario, Capital Pointe in Regina, is now underway and off to an excellent start; Regina's resource base has Fortress looking at several other sites to capitalise on the housing boom needed to support Canada's fastest growing economy. Between municipal incentives such as no development fees or property taxes for purchasers, the market in Saskatchewan's capital shows tremendous upside.

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