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Forest City Plans to Explore Alternatives for Retail Properties

Forest City Realty Trust Inc. said it’s exploring strategic alternatives for its retail properties, and would use proceeds from any real estate sales for apartment and office buildings.

The retail holdings include 14 regional malls around the U.S. and 19 specialty retail centers located primarily in New York City, the company said Monday in a statement. The Cleveland-based firm’s retail properties include Brooklyn’s Atlantic Terminal Mall, stores on 42nd Street near Times Square in Manhattan, enclosed regional malls in California and Pennsylvania, and smaller neighborhood shopping centers, according to Forest City’s website.