New York

Collectively, the fund and separate accounts create a lending capacity of up to $7 billion for the firm.

Located in Dorchester, the property is across the street from the 20-acre site of the former Bayside Expo Center. Accordia Partners and Ares Management were selected by the University of Massachusetts earlier this year to develop the Bayside Expo Center site.

CoStar Group senior consultant Andrew Rybczynski explains what that means in the record breaking deal, for industrial property trends.

"We thank the company's stockholders for engaging with the Mack-Cali Board and management team and providing constructive feedback. We welcome the newly elected directors and look forward to working collaboratively with them to create value for our stockholders," said Mack-Cali Realty chairman William Mack.

The agreements call for Century Casinos, Inc. of Colorado Springs, CO to acquire the operating assets of the three properties from Eldorado Resorts for approximately $107 million and VICI Properties Inc. of New York City to acquire the land and real estate assets of the three properties for approximately $278 million.

The deal is structured as a sale leaseback as part of a consortium alongside Related Cos. and a third-party investor.