According to Mack-Cali Realty Corp., its operating partnership, Mack-Cali Realty, L.P., has increased its unsecured revolving credit facility by $175 million, to a total of $775 million.   
The credit facility, which was extended for two years earlier this year, matures in June 2011. The facility carries an interest rate of LIBOR plus 55 basis points at the BBB/Baa2 pricing level. The interest rate is subject to adjustment, on a sliding scale, based upon the operating partnership's unsecured debt ratings.
"In addition to enhancing our financial flexibility, this transaction demonstrates the banking and financial community's continuing confidence in our company," said Barry Lefkowitz, executive VP and chief financial officer.
The lending group for the credit facility consists of 23 banks. Tags: