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In a March 1996 tax-free exchange, Cali purchased the 92% occupied 103 Carnegie Center in Princeton, NJ.

Another exceptional transaction was a March 1996 swap of properties, whereby Cali sold a 56% occupied 132,000 square foot property located at 15 Essex Road, Paramus, New Jersey to The Valley Hospital and simultaneously purchased the 92% occupied 103 Carnegie Center in Princeton, New jersey. tn addition to accommodating the Valley Hospital’s need for substantial additional space, this tax-free transaction enabled Cali to redeploy its capital at a significantly higher yield.

Tenant Satisfaction is Key to Cali’s Success

Cali's expert tenant relations, quality site management and impeccable timing were key to securing a long lease at 400 Alexander Park in West Windsor, New Jersey in December, 1995. Cali Realty purchased the vacant four-story building for $4.2 million and signed a 15-year lease with Berlitz International. The office building was then renovated for Berlitz’s occupancy in May 1996.

In Basking Ridge, Somerset County, New jersey, Cali purchased two Class A office buildings, totaling 115,000 square feet, that are 100% occupied by AT&T and Lucent Technologies. These properties, located at the four-way interchange of I287 and Mount Airy Road, were purchased jointly in July, 1996 and are excellent additions to Cali’s central New Jersey portfolio.

   
  

Cali acquired 233 and 222 Mount Airy Road, Basking Ridge, NJ which comprise 115,000 square feet.

In other business, Cali is managing new construction at 80-100 Commerce Way, Totowa. This project began in June 1996 and involves the development of two new office/flex buildings, totaling more than 47,000 square feet, at its Commercenter Business Park in Totowa, New Jersey. The single-story properties at 80 Commerce Way and 100 Commerce Way are scheduled for completion in November 1996 and will accommodate the expansion needs of both existing and new tenants.

A History of Leadership

Guided by the wisdom of founder John J. Cali, who serves as Chairman of the Board, today’s company is led by Thomas A. Rizk, president and chief executive officer: Brant Cali, chief operating officer; and John R. Cali, chief administrative officer and head of acquisitions.

Cali Associates, the predecessor company to Call Realty Corporation, was founded more than 47 years ago by John J.. Call; his brother, Angelo R. Cali; and their close friend and associate, Edward Leshowitz. Originally a developer of single-family homes in Northern NNew Jersey the company swiftly grew and developed a reputation for quality and service. In the late 1960’s, Cali expanded into developing and managing office properties, earning praise for its original and pleasing designs. To date, seven buildings have been awarded the coveted “New Good Neighbor Award” for their unique architecture and contribution to the local economy.

Cali’s flagship office property is the 19-story International Financial Tower, located in Jersey City near the Hudson River Waterfront, which features a stunning atrium and indoor waterfall. CCaliis also known for its Cali Corporate Center, a ttwo buildingcomplex which boasts a dramatic atrium in each building—the first in suburban New Jersey office buildings. Other prestigious properties include the famous “Clock Tower Building” at 20 Commerce Drive in the Cranford Business Park, and the 235,000square-foot Cali Corporate Center in Woodcliff Lake. Cali also owns properties in northern, central and southern New Jersey, suburban Philadelphia and Montebello, New York.

Surpassing Expectations

Cali Realty is prepared for an aggressive year ahead. In addition to having access to capital, Call has a low debt-to-capitalization ratio of 17.5% (as of 9/13/96) which allows the company to respond quickly to abundant acquisition opportunities.

While REITs are in a growth trend, at mid-year 1996, they held only eight percent of the country’s institutionally-owned real estate assets, which are estimated to he worth over a trillion dollars. As RUTs become more popular as an investment tool, Cali is poised for strong performance.

Cali Realty Corporation’s commitment to tenant and broker satisfaction, skilled management and proven ability to close big deals are just a few of the reasons the company will be a major player for years to come, continuing to surpass all expectations.

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