trending Market Intelligence /marketintelligence/en/news-insights/trending/NfFXCkzv3uUClf1N1kwE6Q2 content esgSubNav
In This List

Forest City Realty sells stake in Calif. regional mall to QIC

Video

According to Market Intelligence, December 2022

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes

Blog

Insight Weekly: Energy crisis cripples Europe; i-bank incomes rise; US holiday sales outlook

Blog

Japan M&A By the Numbers: Q3 2022


Forest City Realty sells stake in Calif. regional mall to QIC

Forest City Realty Trust Inc. finalized the sale of its stake in the 960,000-square-foot South Bay Galleria regional mall in Redondo Beach, Calif., to QIC.

The sale marks the second closing in the company's 10-mall portfolio deal with QIC that values the properties at about $3.18 billion, or $1.55 billion at Forest City's share.

Forest City expects to close on four additional malls — Westchester's Ridge Hill in Yonkers, N.Y.; Shops at Wiregrass in Tampa, Fla.; Mall at Robinson in Pittsburgh; and Antelope Valley Mall in Palmdale, Calif. — in early 2018.

The company expects the final four malls in the portfolio — Victoria Gardens in Rancho Cucamonga, Calif.; Galleria at Sunset in Henderson, Nev.; Promenade Temecula in California; and Short Pump Town Center in Richmond, Va. — to be transferred to QIC at a fixed price and closed as Forest City secures replacement properties.