MACK-CALI RECEIVES $64.5 MILLION IN LOANS FOR TWO OFFICE PROPERTIES

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RED BANK AND CLARK, N.J. — Edison, N.J.-based Mack-Cali Realty Corp. has received a total of $64.5 million in financing for two New Jersey office properties. In the first transaction, Mack-Cali secured $44.9 million for One River Centre, a three-building office complex located at 331 Newman Springs Rd. in Red Bank. The property contains approximately 480,000 square feet of Class A space. In the second transaction, Mack-Cali secured $19.6 million for a 182,555-square-foot, Class A office building located at 100 Walnut Ave. in Clark. Both loans carry 10-year terms and 7.25 percent interest rates. The lender was Guardian Life Insurance Company of America.

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