Mack-Cali in agreement to sell 56-building flex portfolio

JERSEY CITY, NJ — Mack-Cali Realty Corporation has entered into two definitive agreements with one buyer for the sale of its 3.1 million s/f office/flex portfolio. The aggregate purchase price for the portfolio is $487.5 million. A portion of the proceeds from the sale will be used for the repayment of approximately $230 million of unsecured debt.
Michael DeMarco, CEO said, “The sale of our office/flex portfolio substantially completes our strategic repositioning. Mack Cali’s evolution to a waterfront centric office and residential landlord is complete.  Proceeds from the sale of this portfolio will be used in part to pay down debt and to purchase Soho Lofts, a 377-unit apartment community in Jersey City, which furthers our waterfront strategy.” 

READ MORE. 


Please reload

Featured Posts

The Azarian Group signs over seven new leases in recent months

March 11, 2020

1/10
Please reload

Recent Posts
Please reload

Phone: 781.740.2900| Fax: 781.740.2929 

© Copyright 2014 Mid Atlantic Real Estate Journal. All Rights Reserved.