Brightline CEO Resigns to Start His Own Real Estate Investment Firm
Vincent Signorello has resigned as president and CEO of Florida East Coast Industries, the company building the Brightline passenger rail and the largest business parks in Miami-Dade County, to start his own firm.
South Florida Business Journal reports Signorello has not announced the name of his new company. He said he plans to deploy new capital to create large master-planned developments in South Florida and beyond. That would include the acquisition and development of commercial properties.
He joined Coral Gables-based FECI in 2008. During his tenure, the company launched the concept of the Brightline to transport passengers between Miami, Fort Lauderdale, West Palm Beach and Orlando. The Miami-to-West Palm Beach leg is currently under construction and should begin service this summer, while the Orlando leg could take several more years. FECI also launched major real estate projects near its stations in Miami and West Palm Beach.
At the same time, FECI’s Flagler Global Logistics developed the South Florida Logistics Center near Miami International Airport and Countyline Corporate Park.
FECI is part of a fund managed by Fortress Investment Group. Signorello previously worked for the private equity team at Fortress.
"I’ve had the privilege of working alongside this team [at FECI] for years, and they are among the most talented people I’ve encountered in the business,” Signorello said. "It’s because of this team that I am able to step away knowing that FECI is on the best possible foundation for future growth, and I look forward to working with my former colleagues at FECI as we create partnerships through my new venture.”