CLEVELAND—Forest City Realty Trust, Inc.reached an important milestone today in its exit from shopping center retail. TheCleveland-based firm completed the sale of its interest inWestchester's Ridge Hill, a 1.2 million-square-foot, open-airregional lifestyle center in Yonkers, NY; The Shops at Wiregrass, a748,000-square-foot outdoor lifestyle village in Wesley Chapel, FL;and Bass Pro Shops Outdoor World at Victoria Gardens in RanchoCucamonga, CA.
The sale of the two lifestyle centers were the fifth and sixthof Forest City's previously announced 10-mall portfolio transactionwith QIC. The gross selling price for the firstgroup of properties – six regional malls, plus the bass pro shop –was $1.243 billion. Forest City's share was $667.5 million andincludes assumption by QIC of Forest City's share of debt on theassets 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.
