Opal Holdings acquired 945,906 square feet four office buildings in Edison and Iselin NJ from Mack-Cali Realty Corporation for approximately $250 million.
March 29, 2021
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Opal Holdings acquired 945,906 square feet four office buildings in Edison and Iselin NJ from Mack-Cali Realty Corporation (NYSE:CLI) for approximately $250 million on March 30, 2021. Andy Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Seth Zuidema, in conjunction with Adam Spies and Kevin Donner, and Todd Elfand and Kevin Carton of Cushman & Wakefield brokered the transaction. Mack-Cali plans to use the proceeds to pay down its unsecured corporate debt during the second quarter of 2021.
Opal Holdings completed the acquisition of 945,906 square feet four office buildings in Edison and Iselin NJ from Mack-Cali Realty Corporation (NYSE:CLI) on March 30, 2021.
Veris Residential, Inc. is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company owns, operates, and develops multifamily rental properties located primarily in the Northeast, as well as a portfolio of non-strategic land and commercial assets. The Company operates through two segments: multifamily real estate and services and commercial and other real estate. The Company provides property management, leasing, acquisition, development, construction and tenant-related services for its multifamily real estate portfolio and commercial and other real estate located in the United States. The Company owns and has interests in 24 multifamily rental properties as well as non-strategic assets comprised of one office property, four parking/retail properties, and developable land. It seeks to own a portfolio comprised primarily of Class A multifamily properties with premium amenities and offerings that reflect its commitment to sustainability.
Opal Holdings acquired 945,906 square feet four office buildings in Edison and Iselin NJ from Mack-Cali Realty Corporation for approximately $250 million.
VERIS RESIDENTIAL, INC. 
