Forest City sells stake in NYC specialty realty portfolio

|About: Forest City Realty Trust... (FCE.A)|By:, SA News Editor

The 12-asset, 2.1M square-foot portfolio is located throughout the five boroughs and North Jersey.

Madison International Realty has agreed to buy Forest City's (NYSE:FCE.A) 51% stake for $1B (Madison is presumably the owner of the other 49%). Closing is expected in Q4.

Source: Press Release