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Article: CALI REALTY CORPORATION ANNOUNCES SALE OF 15 ESSEX ROAD, PARAMUS AND THE SIMULTANEOUS ACQUISITION OF 103 CARNEGIE CENTER, PRINCETON.
- Article from:
- Business Wire
- Article date:
- March 20, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CRANFORD, N.J.--(BUSINESS WIRE)--March 20, 1996--Cali Realty Corporation(NYSE:CLI), today announced the sale of its building located at 15 Essex Road, Paramus, New Jersey. This 132,000 square foot property is 17 years old and 56 percent leased. The purchaser, The Valley Hospital, intends to occupy substantially all of the vacant portions of the building.
In connection with the sale, on March 12, 1996 the Company prepaid approximately $5.5 million of its REMIC financing and obtained a release of the mortgage liens on the property.
In a related transaction, the Company also announced the acquisition of 103 Carnegie Center, Princeton, New Jersey, and its ...