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New York

Forest City Realty Trust sells Yonkers’ Ridge Hill mall to Australian investment firm

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Forest City Realty Trust announced this week that it would sell its ownership stake in Ridge Hill, a 1.3 million-square-foot retail, entertainment and medical office complex in Yonkers, to new owners headquartered in Australia. The sale also includes interest in nine other malls across the U.S., purchased by QIC, a government-owned investment firm in Brisbane, according to the Westchester Business Journal. The group of malls is valued at $3.18 billion and Forest City’s share was valued at $1.55 billion, the report said. Forest City previously announced that it would be selling its majority interest in a 2.1 million-square-foot NYC metro area retail portfolio to Madison International Realty.  [WBJ]

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Westchester & Fairfield