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News Breaks
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December 9, 2011
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| 08:10 EDT |  | FCE.A |
| theflyonthewall.com: | Forest City to sell The Ritz-Carlton Cleveland Hotel | | Forest City Enterprises announced that it has agreed to sell the 206-room Ritz-Carlton Cleveland hotel at Tower City Center to a subsidiary of Rock Ohio Caesars, LLC, for a total of $36.5M, including a $2.5M option payment by Rock pursuant to an option agreement between the two companies. The hotel will remain a Ritz-Carlton under a long-term management contract. The transaction is expected to close Dec. 15. :theflyonthewall.com |
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May 14, 2012
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| 08:02 EDT | | FCE.A |
| theflyonthewall.com: | Forest City confirms exploring potential recapitalization of apartment tower | | Forest City confirmed that Forest City and National Real Estate Advisors, partners in the ownership of 8 Spruce Street in Lower Manhattan, have retained CBRE to explore the possibility of bringing a minority partner into the ownership of this iconic Frank Gehry-designed, 899-unit apartment tower. Both Forest City and NREA remain fully committed to the property and expect to retain substantial ownership positions. :theflyonthewall.com |
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