Cali Realty grows rapidly through complex office deals

Business News New Jersey | July 24, 1996| | Copyright

Ever since Cranford's Cali Realty became a real estate investment trust (REIT) in August 1994, it has been one of the most aggressive dealmakers in the state's office market. With access to capital from Wall Street, the company has moved swiftly to snap up buildings and property portfolios. In the first half of this year alone, Cali bought office buildings worth $40 million. During the past year and a half, the REIT has spent a whopping $200 million on buying office and flex-space buildings.

Wall Street has noticed this aggressive growth. Goldman Sachs, the New York City investment firm, in ...

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