Cali Realty Announces Exercise of Over-Allotment Option

08/14/1996 Category: Offerings

CRANFORD, NJ--August 14, 1996--Cali Realty Corporation (NYSE:CLI) today announced the exercise of the underwriter's over-allotment option of 450,000 shares of its common stock at $23.125 per share.

The Company completed an offering of three million common shares at $23.125 per share on August 7, 1996. Prudential Securities Incorporated was the sole underwriter for the offering.

Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing leasing, management, acquisition, development, construction and tenant-related services for its portfolio. The Company owns 45 properties, primarily Class A office and office/flex buildings, totaling approximately 4.6 million square feet. All of the properties are located in New Jersey, New York and Pennsylvania.