Real Estate

Aspen-devli Jv Pays $26M For Mack-cali Office Building | Globest

by globest.com posted 11months ago 61 views
NEPTUNE, NJ—A joint venture of Aspen Real Estate of Freehold, NJ and Devli Real Estate of New York City has acquired the 100% leased 3600 Route 66 office building here from Mack-Cali Realty Corp. of Jersey City for $26 million. Safehold, a real estate investment trust specializing in ground leases, has acquired an existing ground lease at 425 Park Ave. for approximately $620 million. The loan replaces the previous $800 million loan that has a fixed rate of 4.3%, and was set to come due in October 2020.

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