Forest City Realty Trust, Inc. was a

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

that invested in

office building An office is a space where an organization's employees perform administrative work in order to support and realize objects and goals of the organization. The word "office" may also denote a position within an organization with specific dut ...

s, shopping centers and apartments in

Boston Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

Dallas Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...

Denver Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the List of municipalities in California, largest city in the U.S. state, state of California and the List of United States cities by population, sec ...

Philadelphia Philadelphia, often called Philly, is the List of municipalities in Pennsylvania#Municipalities, largest city in the Commonwealth (U.S. state), Commonwealth of Pennsylvania, the List of United States cities by population, sixth-largest city i ...

, and the greater metropolitan areas of

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

San Francisco San Francisco (; Spanish for " Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the fourth most populous in California and 17th ...

and

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

The company was organized in

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

with its headquarters in

Cleveland Cleveland ( ), officially the City of Cleveland, is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located in the northeastern part of the state, it is situated along the southern shore of Lake Erie, across the U.S. ...

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

. As of December 31, 2017, the company owned 29 office buildings, 29 shopping centers, and 78 apartment complexes. On December 7, 2018, the company was acquired by

Brookfield Asset Management Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contro ...

History

In 1920, Forest City was founded as a family-owned

lumber Lumber is wood that has been processed into dimensional lumber, including beams and planks or boards, a stage in the process of wood production. Lumber is mainly used for construction framing, as well as finishing (floors, wall panels, wi ...

and

household hardware Household hardware (or simply, hardware) is equipment that can be touched or held by hand such as keys, locks, nuts, screws, washers, hinges, latches, handles, wire, chains, belts, plumbing supplies, electrical supplies, tools, utensils, ...

business by siblings Charles, Leonard, Max and Fannye Ratner, immigrants from Poland. Beginning in the 1930s, the company invested in residential garages, apartments, retail strip centers. During World War II, the company manufactured and prefabricated governmental housing. In 1960, Forest City became a publicly-traded company. In 1987, the company sold its retail lumber business to

Handy Andy Home Improvement Center Handy Andy Home Improvement Centers was founded as Arrow Lumber Company by Joseph Rashkow in 1947 on the south side of Chicago. His son, Ronald Rashkow, bought out the single store operation in 1967 from his father. He converted the company to Han ...

. In 2011, the company sold a 49% stake in a retail portfolio in New York for $172.3 million. In 2013, the company acquired a 100% interest in a mall in

Pittsburgh Pittsburgh ( ) is a city in the Commonwealth of Pennsylvania, United States, and the county seat of Allegheny County. It is the most populous city in both Allegheny County and Western Pennsylvania, the second-most populous city in Pennsylva ...

. The company also sold a Sheraton hotel in

Station Square Station Square is a indoor and outdoor shopping and entertainment complex located in the South Shore neighborhood of Pittsburgh, Pennsylvania, United States across the Monongahela River from the Golden Triangle of downtown Pittsburgh. Station S ...

in Pittsburgh for $61 million. It also announced plans to redevelop

Ballston Common Mall Ballston Quarter, formerly known as Ballston Common Mall, originally opened as Parkington Shopping Center, was one of the first major suburban shopping centers in the Washington, D.C., area. It opened in 1951 and was the nation's first shopping ce ...

. The company acquired a key parcel from

Macy's Macy's (originally R. H. Macy & Co.) is an American chain of high-end department stores founded in 1858 by Rowland Hussey Macy. It became a division of the Cincinnati-based Federated Department Stores in 1994, through which it is affiliated wi ...

for $13.4 million. In 2016, for tax purposes, the company converted into a real estate investment trust. The company also sold its stake in the

Brooklyn Nets The Brooklyn Nets are an American professional basketball team based in the New York City borough of Brooklyn. The Nets compete in the National Basketball Association (NBA) as a member of the Atlantic Division of the Eastern Conference. The ...

and the Barclays Center to

Mikhail Prokhorov Mikhail Dmitrievich Prokhorov ( rus, Михаил Дмитриевич Прохоров, p=mʲɪxɐˈil ˈdmʲitrʲɪjɪvʲɪtɕ ˈproxərəf; born 3 May 1965) is a Russian-Israeli oligarch, politician, and former owner of the Brooklyn Nets. I ...

, sold its military housing division to Hunt Companies for $208.8 million, sold

Terminal Tower Terminal Tower is a 52-story, , landmark skyscraper located on Public Square in Downtown Cleveland, Ohio, United States. Built during the skyscraper boom of the 1920s and 1930s, it was the second-tallest building in the world when it was com ...

to K&D Group for $38.5 million, and sold 7.7 acres and 8 buildings in Cleveland to an investor group for $3.5 million. In June, 2017 Forest City shareholders voted to eliminate the dual share structure that had enabled the founding Ratner family to control the company. The City of New York also filed a lawsuit against the company in conjunction with the rent due pursuant to a ground lease. In August, 2017 the company sold 25 acres in Cleveland. In October, 2017 the company sold its interests in 10 malls to

Queensland Investment Corporation QIC (Queensland Investment Corporation) is a Government owned investment company owned by the Queensland Government. It was founded on 1 July 1991 pursuant to the ''Queensland Investment Corporation Act 1991'' to serve the long-term investment r ...

for $1.55 billion. On December 7, 2018, the company was acquired by

Investments

Notable projects that were owned by the company are: *

8 Spruce Street 8 Spruce Street, previously known as the Beekman Tower and New York by Gehry, is a 76-story skyscraper designed by architect Frank Gehry on Spruce Street in the Financial District of Manhattan, New York City. 8 Spruce Street is one of the tal ...

, also known as "New York by Gehry", for its designer, Frank Gehry. *

Pacific Park, Brooklyn Pacific Park is a mixed-use commercial and residential development project by Forest City Ratner that will consist of 17 high-rise buildings, under construction in Prospect Heights, adjacent to Downtown Brooklyn, Park Slope, and Fort Greene in ...

, a mixed-use development in

Brooklyn Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...

that includes the Barclays Center. *

Central Station Central stations or central railway stations emerged in the second half of the nineteenth century as railway stations that had initially been built on the edge of city centres were enveloped by urban expansion and became an integral part of the ...

, a primarily residential development on the site of a former railroad terminal in

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

. *

Mercantile National Bank Building The Mercantile National Bank Building (known colloquially as The Merc) is a 31-story, skyscraper at 1800 Main Street in the Main Street district of downtown Dallas, Texas. It is the former home of the Mercantile National Bank, which later beca ...

, a mixed-use urban redevelopment project of a historical office complex in

. *

Mesa del Sol Mesa del Sol (Spanish for "table of the sun") is an uncompleted mixed-use master planned community in Albuquerque, New Mexico. Mesa del Sol, a 12,900-acre mixed-use community, is located on Albuquerque's South Mesa. By combining job creation with ...

, planned for 100,000 inhabitants in

Albuquerque Albuquerque ( ; ), ; kee, Arawageeki; tow, Vakêêke; zun, Alo:ke:k'ya; apj, Gołgéeki'yé. abbreviated ABQ, is the most populous city in the U.S. state of New Mexico. Its nicknames, The Duke City and Burque, both reference its founding in ...

, is the company's largest mixed-use development, co-owned by Covington Capital Partners. *

New York Times Building The New York Times Building is a 52-story skyscraper at 620 Eighth Avenue (Manhattan), Eighth Avenue, between 40th and 41st Streets, on the west side of Midtown Manhattan in New York City. Its chief tenant is the New York Times Company, publis ...

, a 52-story building in Midtown

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

Renzo Piano Renzo Piano (; born 14 September 1937) is an Italian architect. His notable buildings include the Centre Georges Pompidou in Paris (with Richard Rogers, 1977), The Shard in London (2012), the Whitney Museum of American Art in New York City ( ...

. * Northfield Stapleton is an open-air, retail town center at the company's mixed-use redevelopment project at Stapleton International Airport in

. * Public Health Service Hospital District in

's Presidio. * Radian, a 26-story, curved residential tower in the Financial District of

. *

Showcase Mall Showcase Mall is a shopping center on the Las Vegas Strip in Paradise, Nevada. It is known for its landmark facade, featuring a tall Coca-Cola bottle and a colossal bag of M&M's. History After the 1989 announcement of plans for the MGM Grand Las ...

, a shopping center on the

Las Vegas Strip The Las Vegas Strip is a stretch of Las Vegas Boulevard South in Clark County, Nevada, that is known for its concentration of resort hotels and casinos. The Strip, as it is known, is about long, and is immediately south of the Las Vegas city ...

. *

Short Pump Town Center Short Pump Town Center is an open-air shopping mall located in the Short Pump census-designated place (CDP) of unincorporated Henrico County, Virginia on West Broad Street ( U.S. Route 250), approximately west of I-64, exit 178A/B. This area of ...

, an

outdoor mall A shopping mall (or simply mall) is a North American term for a large indoor shopping center, usually anchored by department stores. The term "mall" originally meant a pedestrian promenade with shops along it (that is, the term was used to ref ...

in Richmond, Virginia. *

, a indoor and outdoor shopping, dining and entertainment complex in

. *

University Park at MIT University Park at MIT is a mixed-use urban renewal project in Cambridge, Massachusetts, United States, occupying land near Central Square between the Massachusetts Institute of Technology (MIT) campus and the primarily residential neighborhood o ...

, a mixed-use urban redevelopment project on an abandoned industrial site near the

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...

Cambridge, Massachusetts Cambridge ( ) is a city in Middlesex County, Massachusetts, United States. As part of the Boston metropolitan area, the cities population of the 2020 U.S. census was 118,403, making it the fourth most populous city in the state, behind Boston ...

. * Victoria Gardens, a mixed-use shopping center development in Rancho Cucamonga, California. *

Westchester's Ridge Hill Ridge Hill, formerly known as Westchester's Ridge Hill is a mixed-use lifestyle center located between Interstate 87 and the Sprain Brook Parkway in Yonkers, New York. With its grand opening in 2011, Ridge Hill features a variety of retail store ...

, an upscale, urban open-air shopping center in

Yonkers, New York Yonkers () is a city in Westchester County, New York, United States. Developed along the Hudson River, it is the third most populous city in the state of New York, after New York City and Buffalo. The population of Yonkers was 211,569 as en ...

anchored by

Lord & Taylor Lord & Taylor was the oldest brick and mortar department store in the United States, in business from 1826 to 2020. The brand was purchased during former owner Le Tote's 2020 liquidation bankruptcy and relaunched by new owner, Saadia Group, as ...

, until the store closed in 2020. *

Westfield San Francisco Centre The Westfield San Francisco Centre is an upscale shopping mall located in San Francisco, California, managed by the Westfield Group and co-owned by Westfield and Brookfield Asset Management. It is anchored by Nordstrom and Bloomingdale's, and inc ...

, an upscale, urban shopping center in San Francisco co-owned and managed by

The Westfield Group Westfield Group was an Australian shopping centre company that existed from 1960 to 2014, when it split into two independent companies: Scentre Group, which owns and operates the Australian and New Zealand Westfield shopping centre portfolio; ...

References

{{Authority control 1920 establishments in Ohio Defunct companies of the United States Forest City Realty Trust Real estate companies established in 1920 Ratner family