Brightline

Branson buys into Brightline

Florida’s Brightline private higher-speed passenger rail service has a new investor, Virgin Group, headed by British billionaire Sir Richard Branson. Virgin Group will make a minority investment in Brightline, which will be managed and operated by Brightline’s executive team and affiliates of Brightline parent Fortress Investment Group. Brightline will rename itself Virgin Trains USA in November and transition to Virgin Trains USA branding in 2019, “leveraging the Virgin brand and marketing expertise for existing and future developments.”

Brightline: On to Phase 2?

The Florida Development Finance Corp. (FDFC) has approved Brightline’s request to act as a conduit for the issuance of $1.75 billion in Private Activity Bonds to finance construction of rail infrastructure in Miami-Dade, Broward, Palm Beach, Brevard and Orange counties for Phase 2 of the higher-speed passenger rail system.