February 1, 2010 (FinancialWire)-Forest City Enterprises, Inc. (NYSE: FCEA) said it has closed a new, two-year, $500 million revolving credit facility with its 15-member bank group.

Key Bank National Association (NYSE: KEY) serves as Administrative Agent on the facility. The new facility replaces Forest City’s prior $750 million credit facility, which was scheduled to mature in March 2010.

Cleveland-based Forest City Enterprises is a 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.

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