Mack-Cali and Winthrop collect on JV loan

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

Mack-Cali (CLI +1%) and WInthrop Realty (FUR +0.4%) in February 2012 in a joint venture acquired a mezzanine position in the capital stack of a 1.7M square foot class A real estate portfolio in Stamford, CT, with Mack-Cali owning 80% of the JV and Winthrop 20%.

The borrower has paid of the note and the investment yielded an IRR of about 11.25%.