Profile: Forest City Realty Trust Inc (FCEa.N)
21 Nov 2017
Forest City Realty Trust, Inc., incorporated on May 29, 2015, is engaged in operation, development, management and acquisition of office, retail and apartment real estate and land throughout the United States. The Company's segments include Office, Retail, Apartments, Development, Corporate and Other. Its Office segment owns, acquires and operates office and life science buildings. Its Retail segment owns, acquires and operates regional malls, specialty/urban retail centers and amenity retail within its mixed-use projects. Its Apartments segment owns, acquires and operates rental properties, including upscale and middle-market apartments, adaptive reuse developments and subsidized senior housing. Its Development segment represents the development and construction of office and life science buildings, regional malls, specialty/urban retail centers, amenity retail, apartments, condominiums and mixed-use projects. Its Corporate segment consist of departments providing executive oversight to the Company and various support services for Operations, Development and Corporate employees. Its Other segment represents the operations of various non-core investments.
The Company's specialty retail centers include urban retail, entertainment-based, neighborhood and power centers (collectively, specialty retail centers). Its amenity retail includes retail and entertainment based tenants typically located within or adjacent to its mixed-use projects. Its Apartments segment portfolio includes upscale and middle-market apartments, adaptive re-use developments and subsidized senior housing. In its office development activities, the Company is primarily a build-to-suit developer that works with tenants to meet their requirements. The Company's office development has focused primarily on mixed-use projects in urban developments, often built in conjunction with hotels and/or retail centers or as part of an office or life science campus. The Company's Stapleton project is an urban redevelopment with additional future entitlements, including apartments, retail and office space, as well as single family neighborhoods, where the Company sells residential lots to homebuilders. As of December 31, 2016, the Company owned 364 acres of undeveloped land (including 128 saleable acres) and a purchase option for 536 acres at Stapleton over the next two years. In addition to the developable land available through purchase options, there were 1,116 acres reserved for regional parks and open space, of which 1,067 acres were under construction or had been completed as of December 31, 2016.
Forest City Realty Trust Inc
50 Public Sq Ste 1100
CLEVELAND OH 44113-2267