Forest City Announces Completion of $167 Million in Financing Transactions

Forest City Enterprises, Inc., based in Cleveland, Ohio, announced today the following three separate, recently completed financing transactions, totaling in the aggregate, more than $167 million:

• A $75 million construction loan closed November 7th for a 127,000-square-foot expansion of an existing 1.1 million square-foot retail center at The Promenade in Temecula in Southern California, which expansion financing was provided by The New York State Teachers’ Retirement System.

• $67.5 million in construction financing closed October 31st for a 161-unit adaptive re-use apartment community in San Francisco.

• $24.9 million refinancing closed October 31st of a 135-unit apartment community at University Park at MIT in Cambridge, Mass.

Forest City Enterprises, Inc.,, is a publicly traded real estate company principally engaged in the ownership, development, management and acquisition of commercial and residential real estate throughout the U.S. For a copy of the press release, click here.

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