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|Forestar Announces Plan to Exit Multifamily Business|
The Company also announced today that in fourth quarter 2015 it
completed the sale of Midtown Cedar Hill, a 354-unit multifamily project
“Opportunistically exiting the multifamily business is a positive step
forward toward our goals of exiting non-core assets and reducing
operating expenses. These actions, once fully implemented, are expected
to reduce annual operating costs by over
There can be no assurance regarding the likelihood or timing of any specific transaction or transactions.
This release contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are typically identified by words or phrases such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “target,” “forecast,” and other words and terms of similar meaning. These statements reflect management’s current views with respect to future events and are subject to risk and uncertainties. We note that a variety of factors and uncertainties could cause our actual results to differ significantly from the results discussed in the forward-looking statements, including but not limited to: general economic, market, or business conditions; changes in commodity prices; opportunities (or lack thereof) that may be presented to us and that we may pursue; fluctuations in costs and expenses including development costs; demand for new housing, including impacts from mortgage credit rates or availability; lengthy and uncertain entitlement processes; cyclicality of our businesses; accuracy of accounting assumptions; competitive actions by other companies; changes in laws or regulations; and other factors, many of which are beyond our control. Except as required by law, we expressly disclaim any obligation to publicly revise any forward-looking statements contained in this news release to reflect the occurrence of events after the date of this news release.
Forestar Group Inc.