CLEVELAND, May 18, 2011 /PRNewswire/ -- Forest City
Enterprises, Inc., (NYSE: FCEA and FCEB) today announced the
creation of a new leadership position to support the company's
growing presence in the Texas real
estate market. Effective immediately, Brian Ratner has been promoted to president of
Forest City Texas and will lead the company's Texas operations from its regional office in
Dallas.
(Logo:
http://photos.prnewswire.com/prnh/20080515/FRSTCTYLOGO )
"Texas is one of the strongest
markets in the country and we believe it continues to offer us
tremendous opportunities," said Charles A.
Ratner, Forest City president and chief executive officer.
"Over the past several years, we have made significant investments
in the region, including our Mercantile Place on Main apartment
community in downtown Dallas, as
well as land projects in Dallas,
Houston, San Antonio and El
Paso. Brian's appointment in Dallas reinforces our strong commitment to
developing and operating a vibrant and diversified portfolio of
real estate in this growing market."
Brian Ratner, previously
president of East Coast Development for Forest City's Commercial
Group, has more than 24 years of commercial real estate experience
with the company. He has been instrumental in the leadership
of many key projects for the company over the years, including most
recently the Village at Gulfstream Park retail/mixed-use project in
Hallandale Beach, Florida.
About Forest City
Forest City Enterprises, Inc. is an NYSE-listed national real
estate company with $11.8 billion in
total assets. The Company is principally engaged in the ownership,
development, management and acquisition of commercial and
residential real estate and land throughout the United States. For more information, visit
http://www.forestcity.net.
Safe Harbor Language
Statements made in this news release that state Forest City
Enterprises' or Forest City management's intentions, hopes,
beliefs, expectations or predictions of the future are
forward-looking statements. The Company's actual results could
differ materially from those expressed or implied in such
forward-looking statements due to various risks, uncertainties and
other factors. Risks and factors that could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, the impact of current lending and
capital market conditions on its liquidity, ability to finance or
refinance projects and repay its debt, the impact of the current
economic environment on its ownership, development and management
of its real estate portfolio, general real estate investment and
development risks, vacancies in its properties, further downturns
in the housing market, competition, illiquidity of real estate
investments, bankruptcy or defaults of tenants, anchor store
consolidations or closings, international activities, the impact of
terrorist acts, risks associated with an investment in a
professional sports team, its substantial debt leverage and the
ability to obtain and service debt, the impact of restrictions
imposed by its credit facility and senior debt, exposure to hedging
agreements, the level and volatility of interest rates, the
continued availability of tax-exempt government financing, the
impact of credit rating downgrades, effects of uninsured or
underinsured losses, environmental liabilities, conflicts of
interest, risks associated with the sale of tax credits, risks
associated with developing and managing properties in partnership
with others, the ability to maintain effective internal controls,
compliance with governmental regulations, increased legislative and
regulatory scrutiny of the financial services industry, volatility
in the market price of its publicly traded securities, litigation
risks, as well as other risks listed from time to time in the
Company's SEC filings, including but not limited to, the Company's
annual and quarterly reports.
SOURCE Forest City Enterprises, Inc.