Forest City’s chief development officer leaves company

Departure comes as Ratner family loses influence at REIT

TRD New York /
Sep.September 04, 2018 01:00 PM

Ronald Ratner and Pacific Park Brooklyn (Credit: Forest City and Curbed NY)

Forest City Realty Trust’s chief development officer Ronald Ratner is leaving the company, the real estate investment trust announced in a filing with the Securities and Exchange Commission Tuesday.

The departure comes as the Ratner family is gradually losing influence at the Cleveland-based company. Ronald Ratner is the son of the company’s founder, Max Ratner, and is the first cousin of Bruce Ratner, who serves as executive chairman of Forest City New York.

In mid-2017 Forest City’s shareholders voted to scrap a dual-share structure that gave the Ratner family outsized influence at the REIT.

This March, the company announced that Ronald Ratner, Brian Ratner and Deborah Ratner Salzberg would leave the company’s board of directors. Brian Ratner and Deborah Ratner Salzberg are the children of Ronald Ratner’s cousin, Albert Ratner.

The company had initially said that Ronald Ratner would remain a part of the management team.

In late July, Brookfield Asset Management agreed to buy Forest City for $6.8 billion. Forest City previously sold most of its stake in the Pacific Park project in Brooklyn and sold the rental tower 461 Dean Street.


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)

Real estate stocks push up this week as U.S.-China trade tensions ease

Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case

Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
United Wholesale Mortgage Mat Ishbia and Gores Holdings IV CEO Alec Gores (Photos via United Wholesale Mortgage and Gores)

United Wholesale Mortgage goes public with $16B valuation

United Wholesale Mortgage goes public with $16B valuation
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
(iStock)

Banks see CRE loans delinquencies hit 5-year high

Banks see CRE loans delinquencies hit 5-year high
30-77 Vernon Boulevard in Queens and Cape Advisors CEO Craig Wood (left) and 720 West End Avenue in Manhattan with Brack Capital Real Estate CEO Ariel Podrojski (right) (Images via Cape Advisors; Google Maps; LinkedIn)

The biggest loans of the slowest month: August’s real estate lending

The biggest loans of the slowest month: August’s real estate lending
FHFA Director Mark Calabria and PIMCO CEO Emmanuel Roman (Getty, iStock)

PIMCO warns of danger in Fannie, Freddie privatization

PIMCO warns of danger in Fannie, Freddie privatization
Assembly member Harvey Epstein and State Sen. Julia Salazar (Getty)

New York preferred equity investors face tax hike

New York preferred equity investors face tax hike
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...