Orloff Lowenbach Stifelman & Siegel P.A.

News & Publications

Mack-Cali Enters the Metro D.C. Multi-Family Market

OLSS represented Mack-Cali Realty Corporation (NYSE: CLI) in connection with the acquisition of an 828-unit multi-family property known as Crystal House in the Crystal City section of Arlington, Virginia, for approximately $262.5 million. Mack-Cali purchased the property through a joint venture with a fund managed by UBS Global Asset Management.  The acquisition includes land to accommodate the development of approximately 295 additional units, 252 of which are currently approved. A portion of the purchase price for the property was financed through a $165 million mortgage loan from Walker & Dunlop, LLC under the Delegated Underwriting and Servicing program of Fannie Mae. 

Click here for the official Mack-Cali press release.