Forest City Closes $160 Million Refinancing for The Galleria at Sunset

Posted by Nevada Real Estate

March 18, 2008

CLEVELAND–(BUSINESS WIRE)–March 18, 2008–Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) today announced that a subsidiary of the Company has closed on a 10-year, $160 million loan with New York State Teachers Retirement System to refinance The Galleria at Sunset, a 1,048,000 square-foot retail center in Henderson, Nev. The center, which is home to anchor stores Dillard’s, Macy’s, Mervyn’s, Dick’s Sporting Goods, and JCPenney, opened in 1996.

About Forest City Enterprises, Inc.

Forest City Enterprises, Inc. is a $10 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States.

CONTACT: Forest City Enterprises, Inc.
Robert G. O’Brien, 216-621-6060
or
Thomas T. Kmiecik, 216-621-6060
or
On the Web: www.forestcity.net

SOURCE: Forest City Enterprises, Inc.

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