CAPRE Multifamily Capital Raising, Investment & Development: Weekly Roundup for October 26, 2020

Mack-Cali Realty Corporation Advances Suburban Disposition Strategy: Mack-Cali Realty Corporation (NYSE: CLI) announced today that it has completed the sale of 5 Vaughn Drive in Princeton, NJ to American Equity Partners for a total of $7.5 million. "We continue to make great progress on our divestment strategy, which includes shedding suburban assets and fortifying our balance sheet," said MaryAnne Gilmartin, Board Chair and Interim Chief Executive Officer of Mack-Cali Realty Corporation. "We will remain diligent in our efforts to reduce corporate debt and re-focus on our core assets, including Harborside and multifamily assets across the region." 5 Vaughn Drive is a nearly 100,000-square-foot, Class A office building within the Princeton Metro Center complex, which is 30% leased. The complex is well-located, close to downtown Princeton and adjacent to the train station. The deal was led by Ricardo Cardoso, EVP and Chief Investment Officer. "Ricardo and his team have done a fantastic job advancing our suburban disposition strategy, despite any obstacles the pandemic could have presented," Gilmartin added. "I commend everyone on the team for getting yet another transaction over the finish line." Walker & Dunlop Completes Sale and Financing for Multifamily Property Near The Battery Atlanta: Walker & Dunlop, Inc. announced today that its multifamily property sales group, Walker & Dunlop Investment Sales, recently completed the sale of The Columns at Bentley Manor, a 418-unit garden style apartment community in Marietta, Georgia. The Columns at Bentley Manor benefits from proximity…