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| Forest City closes $630 million loan for Ridge Hill project Forest City Enterprises, a $9.2 billion NYSE-listed national real estate company, announced that its Forest City Ratner Companies subsidiary has closed on $630 million in construction financing for Ridge Hill regional lifestyle center in Yonkers, New York. The financing marks the largest single construction loan in Forest City's history and will be provided by Bank of America, ING Real Estate Finance and Key Bank Real Estate Capital. Ridge Hill will be a mixed-use 81.4-acre regional lifestyle center featuring a lively streetscape along its main street with extensive show windows, lush landscaping and abundant trees, and a distinctive Town Square at its center. Preliminary construction, including land clearing and site preparation, began this spring. A formal groundbreaking is expected to take place later this year. Ridge Hill is expected to open in 2009. write your comments about the article :: © 2007 Construction News :: home page |