Keystone Puts Up $231M For Mack-Cali Office Properties

Law360, New York (February 26, 2014, 1:38 PM EST) -- Keystone Property Group purchased 12 office properties across New York, New Jersey and Connecticut from Edison, N.J.-based real estate investment trust Mack-Cali Realty Corp. for $230.8 million, the companies said Wednesday.

The deal, for a portfolio totaling nearly 2.3 million square feet, is the latest in a string of recent transactions involving the two companies, which has seen Keystone — based in the Philadelphia suburb of Bala Cynwyd — expand its footprint across the Northeast.

Keystone will make the acquisition through a series of joint ventures...
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