In a bid to raise much-needed cash, Forest City Enterprises could be selling The Heights — that is, the movie theater and Barnes & Noble complex on Court Street.
The news comes from the subscription-only Real Estate Alert newsletter via Atlantic Yards Report. Here’s the article’s (free) snippet:
Forest City Puts Mix of Properties on Block (03/11/2009)
Moving aggressively to raise cash, Forest City Enterprises is looking to sell full or partial stakes in 10 apartment properties, four retail properties and the office portion of a large mixed-used complex.
We have a call in with Forest City’s press office, and will keep you posted.