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FCRC Buys Skanska Out of Modular Factory

NEW YORK CITY—In yet another chapter of the battle between the developer and the contractor, the two parties have closed out the last piece of their now dissolved partnership.

By Rayna Katz | Updated on November 18, 2014

NEW YORK CITY—Though it doesn’t bring their legal battles to a close—Forest City Ratner Cos. and Skanska have come together in a step that could help the developer move its Pacific Park project forward, without help from the contractor.

FCRC Modular, LLC and Skanska Modular LLC announced that FCRC Modular, LLC has announced it plans to purchase the ownership interest of Skanska Modular LLC in their jointly owned modular factory business in the Brooklyn Navy Yard, known as FC+Skanska Modular, LLC. The two parties to the deal, who jointly revealed the measure, declined to reveal the price of the sale.

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