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March 5, 2008
Forest City in the News
ad hoc news, Forest City Closes $100 Million Refinancing for the Promenade Bolingbrook
Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) today announced that it has closed on a $100 million loan with The Prudential Insurance Company of America to refinance The Promenade Bolingbrook, a 736,000 square-foot open-air town center in suburban Chicago. The center, which is anchored by Macy's and Bass Pro Shops, opened in April, 2007.
Commercial Property News, Forest City Refinances Promenade Bolingbroke with $100M Loan
The mortgage, which replaced the property’s construction loan, illustrates that the capital markets are providing liquidity to borrowers with strong track records, high quality assets and strong management teams, a Forest City spokesperson told CPN today.
“The terms of specific transactions may be less attractive than 18 months ago, but we have plenty of access to liquidity,” he added. “In fact, we recently exercised the accordion feature in our revolving credit facility and expanded our line of credit to more than $700 million. That represents our highest level of liquidity ever.”
UrbanOhio, Forest City Enterprises Thread
An online discussion trying to figure out why Forest City seems to be building anywhere but Cleveland.
NoLandGrab: Could it be that Forest City has tapped out Cleveland of massive subsidies and the gig is up, but other municipalities are happy to pony up to be the next boondoggle?
GuruFocus, Martin Whitman Buys... Forest City Enterprises Inc.
Legendary investor Martin Whitman rarely make big changes to his portfolio, but during the past quarter he had one of worst performance periods, he is convinced with his bets on bond insurers, and buying more. These are the details of his buys and sells during the last quarter.
Martin Whitman buys MBIA Inc., Legg Mason Inc., Forest City Enterprises Inc., sells Pfizer Inc, The TorontoDominion Bank, ACE Ltd., Sears Holdings Corp., St. Jude Medical Inc., Nuveen Investments Inc., Ceridian Corp., PAREXEL International Corp. during the 3-months ended 01/31/2008, according to the most recent filings of his investment company, Third Avenue Value Fund.
Posted by lumi at March 5, 2008 5:11 AM