Headquarters relocation; credit refinance; Middle Eastern energy acquisition.
The Paramus-based division of CresaPartners LLC announced Friday that PPI Time Zero Inc. has signed a long-term, 30,000-square-foot lease at 11 Madison Ave., in Fairfield, which will relocate its headquarters from its current location in Paterson.
Prudential Financial Inc., in Newark, announced Friday it has entered into an agreement to sell its stake in Afore XXI, a private pension fund manager in Mexico, to Banorte, a major bank based in Mexico. Proceeds from the sale of Afore XXI are estimated to be $200 million. The transaction is expected to close by the end of the year.
Mack-Cali Realty Corp., in Edison, announced Friday its operating partnership, Mack-Cali Realty L.P., has refinanced its unsecured revolving credit facility with a group of 20 lenders. The $600 million unsecured facility, which is expandable to $1 billion, has a four-year term with a one-year extension option.
Petra Solar, a South Plainfield-based renewable energy company, announced last week the acquisition of EnergyFlow Consulting LLC, in Jordan, a full-service consulting firm that provides local, cost-effective specialized software and hardware.