Forest City Enterprises, Inc. engages in the ownership, development, management, and acquisition of commercial and residential real estate properties in the United States. The company operates in three groups: Commercial Group, Residential Group, and Land Development Group. The Commercial Group owns, develops, acquires, and operates regional malls, specialty/urban retail centers, office buildings, hotels, and mixed-use projects. As of January 31, 2005, it owned interests in 82 completed projects, including 41 retail properties; 33 office properties; and 8 hotels. The Residential Group owns, develops, acquires, and operates residential rental property, including upscale and middle-market apartments and supported-living facilities. The Land Development Group acquires and sells both land and developed lots to residential, commercial, and industrial customers. This group also owns and develops land into master-planned communities and mixed-use projects. Forest City’s assets are primarily located in New York City/Philadelphia metropolitan area, Denver, Boston, greater Washington D.C./Baltimore metropolitan area, and California in the United States. The company was founded in 1920 and is headquartered in Cleveland, Ohio.