YONKERS, NY—Forest City Enterprises Inc.reports it has closed on a three-year $350-million bridge financingfor its Ridge Hill retail complex off the New YorkState Thruway here.
The refinancing, led by Forest City's New York subsidiary byForest City Ratner Companies, was provided by MorganStanley Bank, NY for the 1,3-million-square-foot mixed-useretail, entertainment and office complex.
"We're pleased to close this financing on this major retailasset," says Forest City Enterprises President and CEODavid J. LaRue. "With this in place, we have thetime to complete the lease-up process and fully stabilize theproperty. This closing also reflects the confidence of the lenderin the quality of the asset and the strength of the Westchestermarket. I'd like to acknowledge the finance team in our Brooklynoffice for working with Morgan Stanley to bring this tofruition."
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
