Find in the news:
BY COUNTRY

Forest City Is Reevaluating Its Retail Holdings



The real estate investment trust has announced that it is in the midst of conducting a strategic review of its malls.
The winds of change continue to blow through the shopping mall and shopping center industry, and that’s leading some of the nation’s leading property holders in that sector to further examine their overall strategy. According to Cleveland.com, we can add Forest City Realty Trust to the list of those who are having a moment of reflection. 

The Cleveland-based real estate investment trust has announced that it is in the midst of conducting a strategic review of its malls and specialty retail properties. While it’s classified as simply a review, it sounds like they may have the answer they are looking for close at hand. 

"Our intent is to exit that business to the great extent," Forest City CEO David LaRue shared on a conference call in response to an analyst’s question.

The company's portfolio currently includes 14 regional malls dotted across the country, as well as 19 specialty retail properties, and retail has long played a significant role in the company’s overall strategy. 

Westfield-SFC
Westfield San Francisco Centre
"Retail has been a part of our company since early in our history, well before we went public in 1960. We still believe in the retail business, the strength of our assets and the quality of our retail associates," said LaRue.  

That being said, the company acknowledges that changes are afoot. If they successfully move on from this part of the portfolio via an asset sale, it’s expected that Forest City will reinvest the proceeds in apartments and office buildings, which have been two areas of focus for the REIT of late. 

"Based upon our own internal review of what has truly been driving us. we came to a decision that this was the right time to explore this opportunity and go through this process and decide if we can come to a transaction now would be a great time to do it," LaRue added. 

We’ll have to wait and see if an asset sale comes to fruition, but Forest City has not been shy about shifting its strategy as the market dictates. In recent years, the company has exited the land business, sold off real estate and slashed debt among a host of other changes, all with an eye towards staying ahead of the curve and adapting to the changing times. 

"We have been on a journey and a transformation since 2012 and doing a lot to focus our business and help, I guess, prove value of the portfolio for the shareholders and ourselves, as part of that shareholder group," said LaRue.

Related shopping malls and stores:

More about shopping malls in the USA



YESTERDAY, France:
Some fashion brands are opting to hold their showroom presentations in Milan this season due to logistical challenges posed by the Olympics.
DAY BEFORE YESTERDAY:
The collection follows the recent launch of Zara's 'Timelesz' line and represents another step in enhancing its kids' division.
May 17, 2024:
David Beckham has signed a multi-year design deal with Hugo Boss
May 16, 2024:
Fashion retailer Esprit has commenced insolvency proceedings for its European holding company.
May 15, 2024, USA:
The company has enlisted Goldman Sachs to assist in reviewing its portfolio.
May 14, 2024, France:
Sephora has opened pop-up stores in select cities along the torch relay route.
Friend
and Follow
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us