Forest City Enterprises Reveals Plans to Operate as a REIT

Forest City Enterprises, Inc., (NYSE: FCEA) said Jan. 13 that its Board of Directors has approved a plan for the company to operate as a REIT beginning in 2016.

Publicly traded since 1960, Forest City currently has C-Corp status and is considered a real estate operating company (REOC). The company’s portfolio is focused on urban real estate assets in the office, retail and apartment sectors.

The announcement boosted the price of Forest City stock. After closing Jan. 13 at $ 22.21, Forest City shares closed at $ 24.72 on Jan. 14.

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Obama Signs TRIA Extension Into Law

TRIA

President Barack Obama on Jan. 12 signed legislation into law to reauthorize the Terrorism Risk Insurance Act (TRIA) through the end of 2020.

Congress adjourned in December without passing a bill to extend the TRIA program, which stalled in the Senate following the addition of an unrelated provision. The program expired at the end of 2014; however, upon returning to work on Jan. 6, the House of Representatives and Senate quickly went to work on a reauthorization bill.

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