Keystone, Mack-Cali Pay $125M For Philly's Curtis Center

Law360, New York (June 9, 2014, 3:23 PM EDT) -- Real estate giants Keystone Property Group and Mack-Cali Realty Corp. have jointly bought Curtis Center in Philadelphia for $125 million cash and plan to upgrade and convert the downtown landmark to include a mix of luxury apartments, office space and retail.

Keystone and Mack-Cali said Monday they plan to convert about 90,000 square feet of the iconic commercial building at Walnut and Sixth streets —  totaling a city block at about 885,000 square feet — into 90 luxury rental apartments and possibly more residential space as...
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