cle-ridge-hill-01 Westchester’s Ridge Hill, a 1.2 million-square-foot, open-air regional lifestyle center in Yonkers, NY.

CLEVELAND—Forest City Realty Trust, Inc. reached an important milestone today in its exit from shopping center retail. The Cleveland-based firm completed 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 were the fifth and sixth of Forest City’s previously announced 10-mall portfolio transaction with QIC. The gross selling price for the first group of properties – six regional malls, plus the bass pro shop – was $1.243 billion. Forest City’s share was $667.5 million and includes assumption by QIC of Forest City’s share of debt on the assets of $335 million.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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