|
|
Article: Forest City to restructure Ratner's New York portfolio.
- Article from:
- Real Estate Weekly
- Article date:
- August 9, 2006
CopyrightCOPYRIGHT 2006 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Forest City Enterprises, Inc. is negotiating with Bruce C. Ratner to restructure their combined interest in a total of 30 retail, office and residential operating properties and certain service companies that currently are owned jointly by Forest City and Ratner.
All of the properties included in this portfolio except one are located in the New York City metropolitan area.
Currently Forest City owns a majority interest in its New York portfolio. Upon closing of the proposed transaction, Forest City will be entitled to substantially all of the remaining economic benefits of the underlying properties.
The parties also are negotiating the ...