JOINT VENTURE ACQUIRES $40M MEZZANINE LOAN ON STAMFORD MULTIFAMILY PROPERTY

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STAMFORD, CONN. — Edison, N.J.-based Mack-Cali Realty Corp. and Boston-based Winthrop Realty Trust have formed a joint venture to acquire a senior mezzanine loan position in a 1.7-million-square-foot Class A portfolio for $40 million. The multifamily portfolio is located in Stamford's central business district. The portfolio is secured by equity interests in a seven-building complex containing 1.67 million square feet of office space and 106 rental apartment units totaling 70,500 square feet.

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