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January 7, 2009
Forest City Enterprises stock rises 28.25%
Atlantic Yards Report
Norman Oder continues the stockwatch of Atlantic Yards overdeveloper Forest City Enterprises:
Yesterday, the stock rose $1.87 to $8.49, a 28.25% rise. Four other firms in the property management sector rose (nearly) 15% or more.
Forest City stock began to rise after noon. Perhaps not coincidentally, the developer issued a press release stating that the Forest City-New East Baltimore Partnership had a new tenant at the Science + Technology Park at Johns Hopkins: the Brain Sciences Institute of the Johns Hopkins University School of Medicine.
But a deal to occupy 25,000 square feet of office space isn't enough to move the market that much. Perhaps some institutional investors were making decisions.
Posted by lumi at January 7, 2009 5:19 AM