Forestar Group Sold 800 Acres for $56M

Loading...
Loading...
Forestar Group Inc.
FOR
today announced that Forestar/RPG Land Company LLC, a consolidated venture, sold approximately 800 acres near Dallas, Texas (Light Farms real estate project) for $56 million in total consideration. The property was sold to an affiliate of the Republic Property Group. As a result of this transaction, Forestar received $25 million in cash proceeds, reduced consolidated debt by $31 million, and generated an estimated gain on sale of $3 million. In addition, the sale eliminates over $2 million in annual cash carrying costs.
Posted In: NewsAsset Sales
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...