Daily Archives April 5, 2018

Forest City completes first phase of mall divestitures to QIC – Cincinnati Business Courier

CLEVELAND, April 4, 2018 /PRNewswire/ — Forest City Realty Trust, Inc. (NYSE: FCEA) today announced the closing of the sale of its interest in Westchester’s Ridge Hill, a 1.2 million-square-foot, open-air regional lifestyle center in Yonkers, NY; The Shops at Wiregrass, a 748,000-square-foot outdoor lifestyle village in Wesley Chapel, FL; and Bass Pro Shops Outdoor World at Victoria Gardens in Rancho Cucamonga, CA.

The sale of the two lifestyle centers mark the fifth and sixth mall divestitures, respectively, to close as part of Forest City’s previously announced 10-mall portfolio transaction with QIC. The gross selling price for all the first tranche assets – six regional malls, plus the Bass Pro Shops Outdoor World – was $1.243 billion, or $667...

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