Forest City’s development projects have included The New York Times Co.’s headquarters in Manhattan (above) and the 27-acre University Park at MIT mixed-use development in Cambridge.
(Bernstein Associates via Bloomberg News/ File 2007)
MARKET MOVERS
Developer Forest City’s net loss shrinks
Forest City’s development projects have included The New York Times Co.’s headquarters in Manhattan (above) and the 27-acre University Park at MIT mixed-use development in Cambridge.
(Bernstein Associates via Bloomberg News/ File 2007)
Forest City Enterprises Inc., an $11.7 billion real estate company with holdings in 27 states and the District of Columbia, said its second-quarter net loss shrank as project write-offs and interest expenses fell. The net loss was $1.8 million, down from $8.4 million a year earlier. The collapse of lending markets has caused Forest City to cut back on new development and on property acquisitions.
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