Inventories will be 5 to 10% higher when the crisis is over, which will cause the growth rate to change or perhaps double in four to five years, and the lessons learned will lead to more manufacturing in the Americas.
The Asian investor contributed approximately $26 million for the 12th property in addition to the approximately $82 million contributed for the initial 11 properties last month.
Katz and Shainker also denied Mack-Cali's earlier statement that Bow Street was seeking a "fire sale" of the company after it called for the removal of Mack-Cali CEO Michael DeMarco in a letter to shareholders last month.
In addition, the REIT states that several planned portfolio sales will likely be delayed until later this year or next year due to the lack of financing available for hotel transactions.