Exterior of shopping mall Forest City’s Atlantic Center mall in Brooklyn; the company is also developing Pacific Park, formerly known as Atlantic Yards, in the borough.

CLEVELAND—Forest City Realty Trust Inc. said Monday it’s reviewing its strategic options, including a merger or sale of the company. The Cleveland-based office, residential and retail owner/developer, which began trading as a REIT in January 2016, said there was no guarantee that the review would lead to a transaction of any kind.

“The board believes thoroughly evaluating all alternatives, while simultaneously continuing to execute on our current strategies and supporting our associates in doing so, are the appropriate steps to assess how best to unlock stockholder value,” says James A. Ratner, non-executive chairman of FCRT’s board. Over the past several years, he adds, “we have made substantial progress transforming Forest City by focusing on core urban markets and products, reducing complexity, paying down debt, driving operational excellence and enhancing our corporate governance structure.”

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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