Mack-Cali teams with Keystone Property for Philadelphia purchase

|About: Mack-Cali Realty Corp. (CLI)|By:, SA News Editor

Affiliates of Keystone Property Group and Mack-Cali Realty (CLI) jointly acquire Curtis Center, a class A office building in Center City Philadelphia in an all-cash deal for $125M.

The two plan to transform the spot into a mixed-use environment with part of the office space turned into luxury rental apartments.

The deal is the latest between the two as Mack-Cali looks to boost its apartment offerings.