According to the company, Cleveland-based Forest City will not receive any proceeds from the sale and there is no assurance that any shares will change hands. McDonald Investments Inc., also based in Cleveland, will serve as a placement agent in offering the shares.
Forest City is a $4.4-billion real estate company listed on the NYSE. Its primary focus is the ownership, development, acquisition and management of US commercial and residential properties. The company's portfolio includes interest in retail centers, apartment communities, office buildings and hotels. Primary markets include Boston, Denver, Los Angeles, New York, Philadelphia, San Francisco, Washington, DC and Richmond, VA.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
