Brookfield Asset Management has plans to buy Forest City Realty Trust in a deal valued at $11.4 billion.
Forest City’s portfolio includes 6.3 million square feet of office space; 2.3 million square feet of life science space, primarily in Cambridge, Mass.; 2.2 million square feet of retail space; and 18,500 multifamily units. Forest City also has five large-scale development projects in the New York metro area, San Francisco and Washington, D.C.
The proposed transaction is expected to close in the fourth quarter.
