Mack-Cali and Winthrop Acquire Senior Mezzanine Position on Stamford Portfolio for $40M
Mack-Cali Realty Corporation (NYSE: CLI), along with Winthrop Realty Trust (NYSE: FUR), today announced that they have formed a joint venture that acquired a senior mezzanine loan position in the capital stack of a 1.7 million-square-foot class A portfolio in Stamford, Conn. for $40 million.
The senior mezzanine loan has a face value of $50 million and is secured by the equity interests in a premier seven-building portfolio containing 1.67 million square feet of class A office space and 106 residential rental units totaling 70,500 square feet, all located in the Stamford, Connecticut Central Business District.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.