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Atlantic Terminal Mall Atlantic Terminal Mall in Brooklyn

NEW YORK CITY—Forest City Realty Trust has closed on converting common ownership interest to preferred interest with 10 of the 13 specialty retail centers that are part of a joint venture with Madison International Realty.

The restructuring of the ownership interests is a step in the process of Forest City’s agreement to sell its 51% stake in 13 specialty retail properties in New York City to Madison International as previously reported in GlobeSt.com. The structure was taken for tax efficiencies according to Forest City senior vice president of corporate communications, Jeff Linton.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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