Forest City Completes Sale of Millender Center Mixed-Use Assets In Detroit

Forest City Enterprises, Inc. FCEA today announced that a subsidiary, together with its partners, has closed the sale of portions of Millender Center, a mixed-use property in downtown Detroit, to Riverfront Holdings, Inc. (RHI). The $37.8 million transaction is expected to generate net proceeds to Forest City of approximately $14.4 million, after retirement of debt and other expenses.