Forbes Media is using ties developed through journalism to enter the real-estate development business.
The company said it has a licensing agreement with G2 Investment Group through its newly formed Forbes Financial Services.
Mike Federle the chief operating officer of Forbes Media, said that the company is not putting any capital into the new venture.
“We’re currently looking at about 12 potential deals,” he said “I’d be happy if in the next year we announced two more.”
The first deal announced earlier this week was with Century Properties Group Inc., a Philippine real estate firm that said it will build the first Forbes Media Tower in Makati, Metro Manila, Philippines.
Century said it would start taking orders for commercial office space in the tower in early 2014 although the building was not expected to be completed for occupancy for several more years.
Jose E.B. Antonio, president and CEO of Century Properties, will be putting up the capital along with Forbes partner G2.
Bono , the U2 frontman whose Elevation Partners owns a minority stake in Forbes Media, is not putting any more money into the deal either.
“We’re leveraging the brand to build out a new business,” said Federle.