Mack-Cali Realty Corp., Cranford, N.J., has announced the sale of its investment in ARCap Investors LLC, a joint venture formed to invest in unrated B-pieces of commercial mortgage-backed securities, for approximately $20.2 million."While this investment was a very successful one for Mack-Cali, we decided to redeploy our capital into more strategic direct real estate investments that are consistent with our overall strategy of owning and operating class A office properties in the Northeast," said Mitchell E. Hersh, Mack-Cali's chief executive officer. Mack-Cali, a real estate investment trust, can be found on the Web at http://www.mack-cali.com.
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