Dec
27
Forest City Initiates Major Retail Selloff
ByOnce the Madison International Realty and QIC transactions are completed, Forest City will have exited from substantially all of the shopping center-based retail in its portfolio.
As the year draws to a close, Forest City Realty Trust Inc. continues making progress on its plan to sell off retail holdings and focus on urban office, residential and mixed-use assets, recently announcing closings with two of its joint venture retail partners.
The larger of the two transactions was with Madison International Realty LLC, which bought out 10 specialty retail centers in the New York City region. The REIT also said it had closed on the sale of its interest in South Bay Galleria, a 960,000-square-foot regional mall in Redondo Beach, Calif., to QIC…
