Last $19.53 USD
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Company Description

Contact Info

Terminal Tower

Suite 1100

50 Public Square

Cleveland, OH 44113

United States

Phone: 216-621-6060

Fax:

Forest City Enterprises, Inc. engages in the ownership, development, management, and acquisition of commercial and residential real estate and land in the United States. The company’s core markets include Boston, Chicago, Dallas, Denver, Los Angeles, New York City, Philadelphia, the Greater San Francisco metropolitan area, and the Greater Washington D.C. metropolitan area. Its portfolio of real estate assets is diversified both geographically and among property types. Business Units The company operates through three strategic business units, which represents four of the six operating segments: Commercial Group, the company’s strategic business unit, owns, develops, acquires and operates regional malls, specialty/urban retail centers, office and life science buildings, hotels and mixed-use projects. Additionally, it operates Barclays Center (the Arena), a sports and entertainment arena located in Brooklyn, New York. Residential Group owns, develops, acquires, and operates residential rental properties, including upscale and middle-market apartments and adaptive re-use developments. Additionally, it owns interests in entities that develop and manage military family housing. Land Development Group acquires and sells both land and developed lots to residential, commercial and industrial customers. It also owns and develops land into master-planned communities and mixed-use projects. Segments The company has six reportable operating segments: Commercial Group, Residential Group, Arena, Land Development Group, and The Brooklyn Nets (The Nets). Commercial Group The company develops and acquires retail projects, and office and mixed-use projects. The Commercial Group’s diverse portfolio is in both urban and suburban locations in 15 states and the District of Columbia. The Commercial Group targets markets where it uses its expertise to develop complex projects, often employing public and/or private partnerships. As of January 31, 2013, the Commercial Group owned interests in 93 completed rental properties including 47 office properties (13.0 million gross leasable square feet); 17 regional malls (gross leasable area (GLA) of 9.3 million square feet); 27 specialty retail centers (GLA of 5.9 million square feet); and 2 hotels (1,015 rooms). In addition, the Commercial Group has two projects under construction: The Yards - Twelve12, the street level retail below the 218 unit apartment community included in the Residential Group, and The Yards - Lumber Shed, specialty retail centers in Washington, D.C. (Gross Leasable Area (GLA) of 88,000 and 32,000 square feet, respectively). In its office development activities, the company is primarily a build-to-suit developer that works with tenants to meet their requirements. The company’s office development has focused primarily on mixed-use projects in urban developments, often built in conjunction with hotels and/or retail centers or as part of a major office or life science campus. The specialty retail centers include urban retail centers, entertainment-based centers, neighborhood centers and power centers (collectively, specialty retail centers). Residential Group The Residential Group owns, develops, acquires, leases and manages residential rental properties in 23 states and the District of Columbia. Its residential portfolio includes middle-market apartments, upscale urban properties and adaptive re-use developments. The Residential Group also owns, develops and manages military family housing. As of January 31, 2013, the Residential Group’s diverse operating portfolio consisted of: 32,564 apartment units in 115 properties; and 14,104 military housing units under management in various stages of operations and/or redevelopment. In addition, the Residential Group has seven projects under construction: Continental Building, a 203 unit apartment community in Dallas, Texas; Aster Northfield, a 352 unit apartment community in Denver, Colorado; Stratford Avenue, a 128 unit apartment community in Fairfield, Connecticut; Brooklyn Atlantic Yards - B2 BKLYN, a 363 unit modular apartment community in Brooklyn, New York; 120 Kingston, a 240 unit apartment com

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Price/Earnings 100.0x
Price/Sales 3.5x
Price/Book 2.4x
Price/Cash Flow 13.1x
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