Mack-Cali & Winthrop Acquire $40M Mezz on Stamford Portfolio

STAMFORD, CT-Two of the Northeast’s largest REITs have teamed up to buy a loan secured by a class A office and multifamily portfolio in Connecticut’s central business district. Edison, NJ-based Mack-Cali Realty Corp. and Boston-based Winthrop Realty Trust formed a joint venture to acquire a senior mezzanine loan position in a 1.7-million-square-foot class A portfolio here for $40 million.

The portfolio, secured by the equity interests in a seven-building complex containing 1.67 million square feet of office space and 106 rental apartment units totaling 70,500 square feet, is located directly in the city’s CBD, the companies announced. However, both Mack-Cali and Winthrop declined to disclose the addresses and history of the properties.