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August 22, 2008
Forest City Closes $167M Financing for Build
GlobeSt.com
by Natalie Dolce
The headline seems a little truncated, but GlobeSt serves up a detailed report on the financing of Forest City's 80 DeKalb, including this quote from President and CEO Chuck Ratner regarding loan maturities:
"We continue to manage our maturities effectively, recycling capital from our portfolio where prudent to apply to other strategic uses," Ratner says in a prepared statement. "Financing continues to be available for well-conceived and well-sponsored projects and properties in solid markets with good demographics, both in our portfolio and in our development pipeline."
NoLandGrab: No doubt Brooklyn is a solid market with good demographics, but when it comes to Atlantic Yards, "well-conceived" does not apply.
Posted by eric at August 22, 2008 9:52 AM