Cali Prices Offering

10/31/1995 Category: Offerings

CRANFORD, NJ--OCTOBER 31, 1995--Cali Realty Corporation (NYSE:CLI) announces an offering of four million common shares at $19.50 per share. Thomas A. Rizk, President and Chief Financial Officer, made the announcement today.

The underwriters are Prudential Securities Incorporated, Dean Witter Reynolds, Inc., Donaldson, Lufkin & Jenrette Securities Corporation, NatWest Securities Limited and Smith Barney Inc.

The company anticipates that the proceeds of the offering will be applied to the purchases of three portfolios consisting of a total of 23 office and office/flex buildings in New Jersey, totaling approximately 1.14 million square feet.

Cali is a fully integrated, self-administered, self-managed real estate investment trust (REIT) which currently owns 16 properties totaling 2.73 million square feet in Northern and Central New Jersey and Rockland County, New York and one 327 unit residential complex in Burlington County, New Jersey.