

(c) Financial Statements Schedules (continued)

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
Forest City Enterprises, Inc. and Subsidiaries
				Initial Cost to Company				Cost Capitalized Subsequent to Acquisition			Gross Amount at Which Carried at Close of December 31, 2014						Accumulated Depreciation at December 31, 2014 (C)		Date of Construction/ Acquisition	Range of Lives on Which Depreciation in Latest Income Statement is Computed
Name	Location	Amount of Encumbrance at December 31, 2014		Land and Improvements		Buildings and Improvements		Improvements and Carrying Costs			Land and Improvements		Buildings and Improvements		Total (A)(B)
Office		(in thousands)
Atlantic Terminal Office (2 Hanson Place)	Brooklyn, NY	$	101,831	$	—	$	108,940	$	3,739		$	—	$	112,679	$	112,679	$	23,569	2004	(1)
Ballston Common Office Center	Arlington, VA	42,750		7,301		45,964		6,599			7,301		52,563		59,864		11,374		2005	(1)
Commerce Court	Pittsburgh, PA	24,050		3,432		20,873		3,820			3,432		24,693		28,125		8,267		2007	(1)
Edgeworth Building	Richmond, VA	19,411		942		29,353		2,530			951		31,874		32,825		5,060		2006	(1)
Glen Forest Office Park (Richmond)	Richmond, VA	59,189		11,766		88,632		8,972			11,818		97,552		109,370		20,352		2007	(1)
Harlem Office	Manhattan, NY	—		—		31,672		8,422			—		40,094		40,094		8,231		2003	(1)
Illinois Science and Technology Park
- 4901 Searle	Skokie, IL	20,689		837		16,227		4,525			837		20,752		21,589		3,665		2006	(1)
- 4930 Oakton	Skokie, IL	—		670		1,842		2,554			1,081		3,985		5,066		733		2006	(1)
- 8025 Lamon	Skokie, IL	14,737		978		6,426		20,680			978		27,106		28,084		3,571		2006	(1)
- 8045 Lamon	Skokie, IL	18,261		3,301		21,198		31,896			3,301		53,094		56,395		7,454		2007	(1)
Johns Hopkins-855 North Wolfe Street	Baltimore, MD	69,033		7,314		76,318		13,867			7,314		90,185		97,499		12,058		2008	(1)
Johns Hopkins Parking Garage	Baltimore, MD	—		1,600		26,185		2,774			1,600		28,959		30,559		1,189		2012	(1)
Mesa del Sol
Aperture Center	Albuquerque, NM	—		834		3,010		239			834		3,249		4,083		1,231		2008	(1)
Fidelity	Albuquerque, NM	22,331		5,003		29,872		293			5,003		30,165		35,168		3,420		2008	(1)
Metrotech Campus
One MetroTech Center	Brooklyn, NY	160,406		—		212,153		64,302			23,543		252,912		276,455		112,690		1991	(1)
Two MetroTech Center	Brooklyn, NY	73,323		—		155,280		34,025			7,137		182,168		189,305		75,700		1990	(1)
Nine MetroTech Center	Brooklyn, NY	59,700		—		64,303		4,250			380		68,173		68,553		25,030		1997	(1)
Eleven MetroTech Center	Brooklyn, NY	61,000		—		41,290		17,047			6,270		52,067		58,337		23,989		1995	(1)
Twelve MetroTech Center	Brooklyn, NY	—		—		42,344		16,140			1,847		56,637		58,484		11,414		2004	(1)
Fifteen MetroTech Center	Brooklyn, NY	165,736		3,762		163,414		8,482			—		175,658		175,658		39,101		2003	(1)
New York Times	Manhattan, NY	640,000		91,737		375,931		137,865			141,479		464,054		605,533		67,273		2007	(1)
One Pierrepont Plaza	Brooklyn, NY	3,907		—		86,863		99,787			558		186,092		186,650		105,788		1988	(1)
Post Office Plaza	Cleveland, OH	14,488		—		57,213		14,751			—		71,964		71,964		41,255		1990	(1)
Skylight Office Tower	Cleveland, OH	26,841		2,500		32,695		35,936			—		71,131		71,131		39,617		1991	(1)
Terminal Tower	Cleveland, OH	—		—		29,422		45,982			—		75,404		75,404		59,403		1983	(1)
University of Pennsylvania	Philadelphia, PA	45,230		—		41,146		10,707			—		51,853		51,853		10,386		2004	(1)
Miscellaneous Investments	Various	—		1,363		51,420		(18,656		)	38		34,089		34,127		14,629		Various	(1)
Office Subtotal		$	1,642,913	$	143,340	$	1,859,986	$	581,528		$	225,702	$	2,359,152	$	2,584,854	$	736,449



(c) Financial Statements Schedules (continued)

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
Forest City Enterprises, Inc. and Subsidiaries
				Initial Cost to Company				Cost Capitalized Subsequent to Acquisition			Gross Amount at Which Carried at Close of December 31, 2014						Accumulated Depreciation at December 31, 2014 (C)		Date of Construction/ Acquisition	Range of Lives on Which Depreciation in Latest Income Statement is Computed
Name	Location	Amount of Encumbrance at December 31, 2014		Land and Improvements		Buildings and Improvements		Improvements and Carrying Costs			Land and Improvements		Buildings and Improvements		Total (A)(B)
Retail
Avenue at Tower City Center	Cleveland, OH	$	—	$	—	$	174,726	$	(44,801	)	$	192	$	129,733	$	129,925	$	102,352	1990	(1)
Ballston Common	Arlington, VA	42,500		170		18,069		67,230			442		85,027		85,469		46,217		1986	(1)
Boulevard Mall	Amherst, NY	100,780		17,050		89,992		—			17,050		89,992		107,042		758		1996	(1)
Brooklyn Commons	Brooklyn, NY	20,415		—		23,794		1,688			20,017		5,465		25,482		1,729		2004	(1)
Shops at Atlantic Center Site V	Brooklyn, NY	—		—		3,238		1,485			1,047		3,676		4,723		1,325		1998	(1)
Shops at Northfield Stapleton	Denver, CO	—		4,830		80,687		87,474			24,879		148,112		172,991		33,145		2005	(1)
Shops at Wiregrass	Tampa, FL	84,950		28,842		109,587		4,690			26,242		116,877		143,119		22,385		2008	(1)
Station Square	Pittsburgh, PA	34,608		8,611		37,484		38,995			25,674		59,416		85,090		28,278		1994	(1)
The Yards
Boilermaker Shops	Washington, D.C.	12,437		529		12,468		5,212			527		17,682		18,209		734		2012	(1)
Lumber Shed	Washington, D.C.	10,000		306		12,820		478			306		13,298		13,604		419		2013	(1)
Tower City Parking	Cleveland, OH	—		2,317		11,789		16,084			2,048		28,142		30,190		12,530		1990	(1)
Westchester’s Ridge Hill	Yonkers, NY	330,000		236,692		661,705		30,491			238,792		690,096		928,888		73,216		2011	(1)
Miscellaneous Investments	Various	2,620		306		1,688		401			306		2,089		2,395		934		Various	(1)
Retail Subtotal		$	638,310	$	299,653	$	1,238,047	$	209,427		$	357,522	$	1,389,605	$	1,747,127	$	324,022


Arena
Barclays Center	Brooklyn, NY	$	457,055	$	—	$	890,213	$	49,816		$	—	$	940,029	$	940,029	$	75,354	2012	(1)


Apartments
100 (100 Landsdowne)	Cambridge, MA	$	45,000	$	728	$	60,020	$	795		$	823	$	60,720	$	61,543	$	14,267	2005	(1)
1111 Stratford	Stratford, CT	15,164		2,414		15,798		4,852			2,432		20,632		23,064		1,023		2013	(1)
1251 S. Michigan	Chicago, IL	9,500		97		13,978		1,300			106		15,269		15,375		3,148		2006	(1)
2175 Market Street	San Fransisco, CA	19,837		3,793		34,508		—			3,793		34,508		38,301		344		2014	(1)
91 Sidney	Cambridge, MA	28,065		213		42,276		—			213		42,276		42,489		1,198		2002	(1)
American Cigar Company	Richmond, VA	11,530		1,395		23,533		573			1,411		24,090		25,501		4,626		2000	(1)
Aster Conservatory Green	Denver, CO	36,000		1,325		13,125		33,375			1,599		46,226		47,825		1,707		2013	(1)
Bayside Village	San Francisco, CA	126,896		153,894		282,807		—			153,894		282,807		436,701		—		1988	(1)
Botanica Eastbridge	Denver, CO	13,000		765		13,698		535			765		14,233		14,998		1,269		2012	(1)
Brookview Place	Dayton, OH	2,180		155		4,588		677			155		5,265		5,420		3,698		1979	(1)
Cameron Kinney	Richmond, VA	—		2,340		23,206		3,788			2,496		26,838		29,334		5,132		2007	(1)
Cedar Place	Lansing, MI	3,859		399		7,000		449			399		7,449		7,848		3,774		1974	(1)
Consolidated-Carolina	Richmond, VA	20,981		1,028		30,425		1,151			1,032		31,572		32,604		7,871		2003	(1)
Cutter’s Ridge at Tobacco Row	Richmond, VA	—		389		4,356		(109		)	400		4,236		4,636		1,160		2006	(1)
Drake	Philadelphia, PA	26,685		1,353		38,104		8,289			1,353		46,393		47,746		14,036		1998	(1)
Easthaven at the Village	Beachwood, OH	25,276		7,919		39,768		7,870			8,099		47,458		55,557		20,285		1994	(1)
Grand Lowry Lofts	Denver, CO	—		1,448		22,726		3,344			1,621		25,897		27,518		5,927		2000	(1)



(c) Financial Statements Schedules (continued)

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
Forest City Enterprises, Inc. and Subsidiaries
				Initial Cost to Company				Cost Capitalized Subsequent to Acquisition		Gross Amount at Which Carried at Close of December 31, 2014						Accumulated Depreciation at December 31, 2014 (C)		Date of Construction/ Acquisition	Range of Lives on Which Depreciation in Latest Income Statement is Computed
Name	Location	Amount of Encumbrance at December 31, 2014		Land and Improvements		Buildings and Improvements		Improvements and Carrying Costs		Land and Improvements		Buildings and Improvements		Total (A)(B)
Apartments (continued)

Hamel Mill Lofts	Haverhill, MA	38,999		3,974		72,902		3,224		3,111		76,989		80,100		10,893		2008	(1)
Heritage	San Diego, CA	28,000		7,433		42,202		9,885		7,505		52,015		59,520		14,924		2002	(1)
Hummingbird Pointe Apartments	Parma, OH	5,997		330		5,059		16,939		1,364		20,964		22,328		9,598		1972	(1)
Independence Place I	Parma Heights, OH	4,080		210		6,671		1,328		225		7,984		8,209		4,168		1973	(1)
Independence Place II	Parma Heights, OH	—		498		3,931		4,560		744		8,245		8,989		1,901		2003	(1)
KBL (Kennedy Biscuit Lofts)	Cambridge, MA	15,600		716		23,645		4,965		719		28,607		29,326		16,120		1990	(1)
Knolls	Orange, CA	32,520		53		23,759		598		53		24,357		24,410		11,511		1995	(1)
Lofts 23	Cambridge, MA	5,987		221		17,026		306		315		17,238		17,553		4,582		2005	(1)
Lofts at 1835 Arch	Philadelphia, PA	38,291		2,076		27,430		12,719		2,082		40,143		42,225		11,097		2001	(1)
Lucky Strike	Richmond, VA	15,278		1,105		34,095		1,207		3,019		33,388		36,407		6,342		2008	(1)
Mercantile Place on Main	Dallas, TX	36,329		8,876		75,478		8,085		8,798		83,641		92,439		16,071		2008	(1)
Metro 417	Los Angeles, CA	47,997		8,545		67,326		5,417		8,547		72,741		81,288		15,131		2005	(1)
Midtown Towers	Parma, OH	12,969		1,215		11,091		11,860		1,309		22,857		24,166		10,281		1969	(1)
Museum Towers	Philadelphia, PA	30,755		3,474		18,158		6,586		3,909		24,309		28,218		9,416		1997	(1)
North Church Towers and Gardens	Parma Heights, OH	5,090		789		4,037		3,168		816		7,178		7,994		1,756		2009	(1)
One Franklintown	Philadelphia, PA	37,190		1,658		31,489		9,830		1,741		41,236		42,977		20,783		1988	(1)
Pavilion	Chicago, IL	51,728		5,250		29,505		15,552		5,249		45,058		50,307		12,968		1992	(1)
Perrytown Place	Pittsburgh, PA	4,587		463		6,898		516		463		7,414		7,877		4,051		1973	(1)
Presidio Landmark	San Francisco, CA	43,563		2,060		92,687		4,983		2,064		97,666		99,730		13,525		2010	(1)
Queenswood	Corona, NY	28,729		321		39,243		1,072		327		40,309		40,636		18,121		1990	(1)
River Lofts at Ashton Mill	Cumberland, RI	16,930		2,885		33,844		12,479		3,247		45,961		49,208		9,948		2005	(1)
Sky55	Chicago, IL	68,517		3,965		80,930		3,989		4,016		84,868		88,884		20,041		2006	(1)
The Aster Town Center	Denver, CO	8,364		487		9,901		365		493		10,260		10,753		1,007		2012	(1)
The Continental	Dallas, TX	37,176		1,586		48,455		1,180		1,586		49,635		51,221		3,404		2013	(1)
The Met (Metropolitan)	Los Angeles, CA	38,900		4,420		36,557		10,169		4,477		46,669		51,146		23,264		1989	(1)
The Uptown	Oakland, CA	124,177		—		138,710		142		954		137,898		138,852		6,333		2013	(1)
The Wilson	Dallas, TX	12,776		2,217		16,565		3,627		1,937		20,472		22,409		4,018		2007	(1)
The Yards
Foundry Lofts	Washington, D.C.	44,790		2,086		52,806		5,959		2,092		58,759		60,851		5,005		2011	(1)
Twelve12	Washington, D.C.	75,606		5,444		106,509		—		5,444		106,509		111,953		1,355		2014	(1)
Town Center (Botanica on the Green & Crescent Flats)	Denver, CO	37,436		3,436		63,073		4,898		3,344		68,063		71,407		18,520		2004	(1)
Winchester Lofts	New Haven, CT	35,902		—		45,650		—		—		45,650		45,650		280		2014	(1)
Miscellaneous Investments	Various	8,093		149		40,697		6,474		152		47,168		47,320		14,615		Various	(1)
Apartments Subtotal		$	1,376,329	$	255,597	$	1,976,245	$	238,971	$	260,693	$	2,210,120	$	2,470,813	$	410,494



(c) Financial Statements Schedules (continued)

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION
Forest City Enterprises, Inc. and Subsidiaries
				Initial Cost to Company				Cost Capitalized Subsequent to Acquisition		Gross Amount at Which Carried at Close of December 31, 2014						Accumulated Depreciation at December 31, 2014 (C)		Date of Construction/ Acquisition	Range of Lives on Which Depreciation in Latest Income Statement is Computed
Name	Location	Amount of Encumbrance at December 31, 2014		Land and Improvements		Buildings and Improvements		Improvements and Carrying Costs		Land and Improvements		Buildings and Improvements		Total (A)(B)
Land Inventory
Stapleton	Denver, CO	$	—	$	51,604	$	—	$	—	$	51,604	$	—	$	51,604	$	—	Various	N/A
LiveWork Las Vegas	Las Vegas, NV	—		29,164		—		—		29,164		—		29,164		—		Various	N/A
Commercial Outlots	Various	—		16,701		—		—		16,701		—		16,701		—		Various	N/A
Land Inventory Subtotal		$	—	$	97,469	$	—	$	—	$	97,469	$	—	$	97,469	$	—

Corporate and Other Equipment
Corporate office	Various	$	—	$	—	$	10,738	$	—	$	—	$	10,738	$	10,738	$	9,646	Various	(1)

Construction Projects
Office
1812 Ashland Ave	Baltimore, MD	29,422		—		8,940		—		—		8,940		8,940		—		Various	N/A
Apartments
1001 4th Street, SW	Washington, D.C.	—		3,709		13,059		—		3,709		13,059		16,768		—		Various	N/A
Aster Town Center II	Denver, CO	—		272		2,220		—		272		2,220		2,492		—		Various	N/A
B2 BKLYN	Brooklyn, NY	56,605		—		40,538		—		—		40,538		40,538		—		Various	N/A
Blossom Plaza	Los Angeles, CA	5,300		—		30,483		—		—		30,483		30,483		—		Various	N/A
Kapolei Lofts	Kapolei, HI	—		20,443		11,915		—		20,443		11,915		32,358		—		Various	N/A
The Yards - Arris	Washington, D.C.	—		8,395		38,611		—		8,395		38,611		47,006		—		Various	N/A
Miscellaneous Investments	Various	—		—		6,503		—		—		6,503		6,503		—		Various	N/A

Development Projects
Office
The Science + Technology Park at Johns Hopkins	Baltimore, MD	—		5,386		15,599		—		5,386		15,599		20,985		—		Various	N/A
Retail
Ballston Common Mall Redevelopment	Arlington, VA	—		13,267		6,357		—		13,267		6,357		19,624		—		Various	N/A
Apartments
Broadway and Hill	Los Angeles, CA	—		27,129		6,203		—		27,129		6,203		33,332		—		Various	N/A
Mixed-use
Pier 70	San Francisco, CA	—		—		12,521		—		—		12,521		12,521		—		Various	N/A
The Yards	Washington, D.C.	4,300		—		58,026		—		—		58,026		58,026		—		Various	N/A
Waterfront Station	Washington, D.C.	—		7,431		11,044		—		7,431		11,044		18,475		—		Various	N/A
Miscellaneous Investments	Various	27,967		24,933		104,973		—		24,933		104,973		129,906		—		Various	N/A
Construction and Development Subtotal		$	123,594	$	110,965	$	366,992	$	—	$	110,965	$	366,992	$	477,957	$	—

Total Real Estate		$	4,238,201	$	907,024	$	6,342,221	$	1,079,742	$	1,052,351	$	7,276,636	$	8,328,987	$	1,555,965


(A)	The aggregate cost at December 31, 2014 for federal income tax purposes was $7,293,315. For (B) and (C) refer to the following page.


(1)	Depreciation is computed based upon the following estimated useful lives:



	Years
Building and improvements (other than Arena)	40 – 50
Arena	34.5
Equipment and fixtures	5 – 15
Tenant improvements	Shorter of useful life or applicable lease term