Toronto-based Brookfield Asset Management Inc. and Forest City Realty Trust, Inc. (NYSE: FCE.A) said July 31 that Brookfield will acquire Forest City in an all-cash transaction valued at $11.4 billion, including debt.
Cleveland-based Forest City, founded in 1920, focuses on the ownership, development, management, and acquisition of commercial, residential, and mixed-use real estate in key urban markets. The REIT’s assets total $8 billion.
Jeff Witherell, CEO of Plymouth Industrial REIT (NYSE American: PLYM), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
Plymouth Industrial REIT held its initial public offering (IPO) in June 2017, and Witherell said the company used the proceeds to pay down some short-term debt, with the majority of the capital going toward new acquisitions. “We [also] did a preferred equity issuance in late October of last year, so between the two offerings, we have in excess of $100 million of proceeds,” he added.
Jeffrey Stoops, president and CEO of SBA Communications Corp. (NASDAQ: SBAC), was a guest on the latest edition of Nareit’s REIT Report podcast.
David Weinreb, CEO of the Howard Hughes Corp. (NYSE: HHC), participated in a video interview at Nareit’s REITweek: 2018 Investor Conference in New York.
