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Forest City Enterprises

Forest City Enterprises, Inc.
Public
Traded as NYSE: FCE.A
NYSE: FCE.B
Industry Property Management
Founded 1920
Founders Charles, Leonard, Max and Fannye Ratner
Headquarters Cleveland, Ohio, United States
Revenue US$1.18 billion(FY 2012)[1]
US$83.1 million(FY 2012)[1]
Total assets US$10.5 billion(FY 2012)[1]
Number of employees
2,573
Divisions The Commercial Group
The Residential Group
The Land Development Group
Website .net.forestcitywww
Footnotes / references
[2]

Forest City Enterprises (NYSE: FCEA, NYSE: FCEB) is a $9-billion diversified real estate management and development company based in Cleveland, Ohio, United States.[3] Its portfolio includes interests in retail centers, apartment communities, office buildings and mixed-use projects in the U.S. The company has recently expanded into military housing communities.[4]

Contents

  • History 1
  • Projects 2
  • Awards 3
  • Associations 4
  • References 5
  • External links 6

History

Forest City was founded as a family-owned lumber and hardware business in the 1920[5] by Charles, Leonard, Max and Fannye Ratner. In the 1930s, the company made its first foray into real estate, purchasing lots for commercial development and its first apartment building.

During World War II, the company made pre-fabricated houses for government housing and began building strip malls. In 1955, Forest City began converting its lumberyards, Forest City Lumber, into do-it yourself home stores.

In 1960, Forest City became a publicly traded company. In the 1980s, the company began divesting of its non-core real estate holdings. The company sold its retail lumber business to Handy Andy Home Improvement Center in 1987.[6] They are the second largest holder of real estate in Downtown Cleveland after Optima Ventures, a Miami-based real estate investment firm led by Chaim Schochet and 2/3rd owned by the Privat Group, one of Ukraine's largest business and banking groups.[7]

Projects

Forest City Enterprises developed The New York Times Building in New York City in 2008. The building is one of many Forest City assets.

Projects developed or under development by Forest City include:[8]

Awards

Associations

It is a member of REBNY.[12]

References

  1. ^ a b c "Forest City Enterprises Inc. (FCE-A)". Yahoo! Finance. 
  2. ^ "Forest City Enterprises-Overview". Forest City Enterprises. 
  3. ^ "Forest City Enterprises Inc". Bloomberg. Retrieved 21 March 2013. 
  4. ^ Forest City Enterprises
  5. ^ "Company Overview". Wall St Journal. Retrieved 4 April 2013. 
  6. ^ Forest City Enterprises
  7. ^ Cleveland Plain Dealer: "The most important guy you've never heard of: Chaim Schochet, 25, builds downtown Cleveland empire" By Michelle Jarboe McFee February 04, 2012
  8. ^ Forest City Enterprises
  9. ^ Monica Caruso (December 14, 1996). "Showcase hopes to be real thing". Las Vegas Review-Journal – via NewsBank. 
  10. ^ "A Salute to Forest City Enterprises" (Press release). National Building Museum. 2005-06-01. 
  11. ^ "University Park at MIT Wins Urban Land Institute's 2004 Awards for Excellence" (Press release). University Park. 2005-01-03. 
  12. ^ "Member Firms". rebny.com. 

External links

  • Official website
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