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SEC Filings

10-Q
FOREST CITY REALTY TRUST, INC. filed this Form 10-Q on 10/30/2018
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Office
The increases in revenues and operating expenses along with the decrease in equity in earnings related to the change in consolidation method are due to the change from equity method to full consolidation method of accounting for the three life science office properties at University Park at MIT (Q3-2018) upon the acquisition of our partner’s equity interests in those properties. The decreases in revenues and operating expenses related to recent disposals are primarily due to the sale of Post Office Plaza, an office building in Cleveland, Ohio (Q3-2017). The decrease in equity in earnings related to recent disposals is primarily due to a non-recurring land sale adjacent to our suburban Cleveland, Ohio office properties (Q3-2017).
Apartments
The decreases in revenues and operating expenses along with the increase in equity in earnings related to the change in consolidation method are due to the change from full consolidation to equity method accounting upon the deconsolidation of Bayside Village, an apartment community in San Francisco, California (Q1-2018). The decreases in revenues and operating expenses along with the decrease in equity in earnings related to recent disposals are primarily due to the sale of 500 Sterling Place, an apartment community in Brooklyn, New York (Q3-2017), and our FAH apartment communities and related service and management companies during 2017 and 2018.
Retail
The decreases in revenues and operating expenses related to recent disposals are primarily due to the deed in lieu transaction on Boulevard Mall, a regional mall in Amherst, New York (Q4-2017), and the sales of The Shops at Northfield Stapleton (Q4-2017), a regional mall in Denver, Colorado (Q4-2017), and Brooklyn Commons, a specialty retail center in Brooklyn, New York (Q2-2018). The decreases in equity in earnings related to recent disposals are primarily due to the various assets sold under the signed definitive agreements with QIC and Madison International to dispose of 10 regional malls and 11 specialty retail assets, respectively. The decreases in revenues and operating expenses reported in Other are primarily due to the transfer of service and management functions to QIC and Madison International relating to the properties sold under the signed definitive agreements.
Development
The decrease in revenue and operating expenses related to other is primarily due to a reduction of development fees and reduced overhead.
Corporate
The decrease in operating expenses is primarily due to reduced overhead. The equity in earnings (loss) reported in the Corporate segment relates to interest expense, partially offset by interest income, on our equity method investments, as all interest expense and interest income is reported in the Corporate segment. The increase in equity in earnings (loss) reported in Other primarily relates to reduced interest expense as a result of the recent disposals of the various assets sold under the signed definitive agreements with QIC and Madison International to dispose of 10 regional malls and 11 specialty retail assets, respectively.

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