Cali Realty Corporation files shelf registration statement.CRANFORD, N.J.--(BUSINESS WIRE)--Sept. 5, 1995--Cali Realty Corporation (NYSE NYSE See: New York Stock Exchange :CLI (1) (Call Level Interface) A database programming interface from the SQL Access Group (SAG), an SQL membership organization. SAG's CLI is an attempt to standardize the SQL language for database access. ) announced today that on Sept. 1, 1995 it filed a shelf registration with the Securities and Exchange Commission (SEC) covering up to an aggregate of $250 million of its securities, including common stock, preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. and warrants. Thomas A. Rizk, President and Chief Financial Officer stated, "The filing of this shelf registration will allow the Company to access capital markets quickly if and when it deems appropriate." Pursuant to agreements it had with the holders of partnership units in Cali Realty, L.P., (the "UPREIT"), the Company also filed a shelf registration statement with the SEC for 2,801,883 shares of common stock of the Company. The partnership units in the UPREIT are convertible to shares on a one-for-one basis. Although the Company has filed the registration statement, it is unaware of any contemplated material conversion of partnership units. Cali Realty Corporation is a self-administered, self-managed real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) with corporate offices in Cranford, New Jersey Cranford is a township in Union County, New Jersey, United States. As of the United States 2000 Census, the township population was 22,578. Cranford Township folds from the banks of the meandering Rahway pond and has been dubbed the "Venice of New Jersey". . The Company is a leading property owner specializing in leasing, management, acquisition, construction and development of office buildings in Northern and Central New Jersey and Southern New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State. The Cali portfolio currently consists of 16 Class A office buildings totaling approximately 2.73 million square feet and one residential property consisting of 327 units located in Burlington County, New Jersey Burlington County is a county located in the U.S. state of New Jersey. The county seat is Mount Holly. The county seat had been in Burlington, but as population moved away from the Delaware River a more central location was needed. As of 2000, the population was 423,394. . By filing a shelf registration statement with the SEC, Cali does not give an assurance that an offering under the statement will commence or that any securities will be issued. The securities covered by the registration statement may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. The announcement of the shelf registration filing shall not constitute an offer to sell or the solicitation of an offer to buy the securities described, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state. CONTACT: Cali Realty Corporation (NYSE:CLI) Thomas A. Rizk President and Chief Financial Officer 908/272-8000 |
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