 |
| Brooks Marro |
NEW YORK, NY (April 3, 2019) - Seyfarth Shaw LLP represented
Mack-Cali Realty Corporation, a waterfront centric office and residential
property owner, in the $487.5 sale of its 56-building, 3.1 million square foot
office/flex portfolio.
 |
| Miles Borden |
A portion of the proceeds from the sale was used to repay
$210 million of unsecured debt at the end of the first quarter.
As part of the sales
consideration, the purchaser redeemed 301,638 of its common Operating
Partnership units, which were valued at $6.6 million.
 |
| John P. Napoli |
Inclusive of proceeds from the sale of the Elmsford
Distribution Center portfolio on December 31, 2018, the Company has retired
$280 million of unsecured debt from sales of flex portfolios.
One of the country's leading Real Estate Investment Trusts
(REITs), Mack-Cali Realty Corporation is an owner, manager and developer of
premier office and multifamily properties in select waterfront and
transit-oriented markets throughout the Northeast.
 |
Michael
Rosenthal |
A fully-integrated
and self-managed company, Mack-Cali has provided world-class management,
leasing, and development services throughout New Jersey and the surrounding
region for two decades.The Seyfarth team was led by Real Estate partner
Miles
Borden and Corporate partner
John Napoli in New York.
The team also
included Real Estate counsel
Brooks Marro (Atlanta), Corporate/Tax
counsels
Steven Crainer (New York) and
Michael Rosenthal (New
York), and Real Estate associate
Evan Gordon (New York).
For more information on Mack-Cali Realty Corporation and its properties, please visit
www.mack-cali.com.
CONTACT:
John Garger
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