MEDIA RELEASE

Forest City Enterprises, Inc. has announced the naming of Jon C. Wallenstrom as president of Forest City Hawaii, a wholly owned subsidiary of Forest City.

The announcement was made by Ronald Ratner, executive vice president, Forest City Enterprises.

Jon Wallenstrom

“In managing our Hawaii operations for the past several years Jon has been influential in building the company’s track record of success in Hawaii,” said Ratner. “With this promotion, he will focus on a broader array of development efforts that will grow Forest City’s presence in Hawaii.”

Wallenstrom is currently involved in a Forest City partnership with the Hawaii Housing Finance and Development Corporation to develop Kamakana Villages at Keahuolu, a mixed-use community of 2,206 homes on the Big Island, of which more than 50 percent of the homes will be affordably priced.

He is also heading up efforts to realize a regional Community Center as the developer for Laiopua 2020 on an adjacent parcel of land owned by the Department of Hawaiian Home Lands.

Wallenstrom had served as senior vice president of Hawaii Military Communities since joining the company in 2006. In that capacity he led Forest City’s ongoing development and management partnership with the Department of the Navy, which involves 6,500Navy and Marine family homes across 36 neighborhoods on Oahu and Kauai.

The project includes historic and other military neighborhood improvements, as well as an award-winning sustainability program. With the military assets moving towards stabilization, Wallenstrom’s new responsibilities will allow the company to expand its focus with additional development opportunities in the State of Hawaii.

Prior to joining Forest City, Wallenstrom had founded A&E Real Estate, which most notably led a condominium conversion for a Carr Capital and Carlyle Group venture. Before that, he led Archstone Communities Trust’s development for the mid-Atlantic states, as group vice president.

Wallenstrom is a member of the Honolulu Urban Land Institute District Council and the Hawaii Business Roundtable. He is also a member of the board of the Honolulu Theatre Center and Housing Hawaii. He is a past member of the Urban Land Institute Washington DC District Council and has served as a member of the Johns Hopkins University Real Estate Institute. He holds a BA from Princeton University.

Forest City Enterprises, Inc. is an $11.5 billion NYSE-listed national real estate company. The company is principally engaged in the ownership, development,management and acquisition of commercial and residential real estate and land throughout the United States.

— Find out more:
www.forestcity.net