Forest City Realty Trust may be on its way to having a greatly reduced investment in the mall industry and a bigger one in apartments and office assets.
The Cleveland-based firm announced it is reviewing strategic alternatives for its retail portfolio. Forest City holds ownership stakes in 14 regional malls across the country and 19 specialty retail centers, mostly in New York City. The East River Plaza, which fronts the FDR Drive in Manhattan at 116th Street, is a Forest City property.. . . more