Forest City Enterprises, Inc., operates with a consistent focus on its strategic plan. The strategy is clear: We focus on target markets with high growth potential and where we enjoy distinct competitive advantages. Our strategy has three key objectives: Continually enhance the quality and growth of our existing portfolio, investing our resources particularly in marquee opportunities. Develop selected products in target markets, primarily those with robust growth opportunities and unique selling features. Support our growth with a highly differentiated capital structure. As a national, publicly traded real estate developer, our growth depends on continued improvement in our existing properties, portfolio additions from new development and timely acquisitions. We have a very experienced management team, we hire the best people and we have a culture that invests in them, supports them and believes in them. Our formula for success is that creativity + diversification + consistency = new value. Our goal is to build long-term asset value by maximizing the spread between the return on our total capital employed (including debt and equity) and the cost of such capital.