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Stock Market & Financial Investment News

News Breaks
February 18, 2014
08:55 EDTFOR, FOR, FOR, FOR, FORForestar Group management to meet with JMP Securities
Meetings to be held in the Mid-Atlantic area February 19-20 hosted by JMP Securities.
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February 8, 2016
06:02 EDTFORForestar Group reaches agreements with Carlson and Cove Street
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January 28, 2016
06:04 EDTFORForestar Group announces plan to exit multifamily business
Forestar Group announced that its management and Board of Directors have determined that the Company's multifamily business is non-core. As a result, Forestar intends to opportunistically exit the Company's multifamily portfolio and will no longer allocate capital to new communities in this business. The Company also announced today that in fourth quarter 2015 it completed the sale of Midtown Cedar Hill, a 354-unit multifamily project near Dallas, for approximately $43 million, generating over $17 million of net cash after repayment of approximately $24 million of debt. The sale contributed approximately $9 million to segment earnings. Additionally, Forestar has retained CBRE Group, Inc. as the exclusive agent to sell Eleven, a 257-unit Class A multifamily property in downtown Austin. "Opportunistically exiting the multifamily business is a positive step forward toward our goals of exiting non-core assets and reducing operating expenses. These actions, once fully implemented, are expected to reduce annual operating costs by over $5 million," said Phil Weber, Chief Executive Officer.
06:03 EDTFORForestar Group announces plan to exit multifamily business

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