Mack-Cali Realty Corporation Reports The Completion Of Its Pennsylvania
Transaction With Keystone Property Group, As Well As Mack-Cali Stock Purchases
EDISON, N.J., Sept. 3, 2013
EDISON, N.J., Sept. 3, 2013 /PRNewswire/ -- Mack-Cali Realty Corporation
(NYSE: CLI) reports the completion of its previously announced joint venture
with Keystone Property Group in its sale of its suburban Philadelphia office
assets. Mack-Cali also noted that the three co-presidents of its Roseland
subsidiary, Marshall Tycher, Brad Klatt, and Carl Goldberg, have each acquired
10,000 shares of Mack-Cali common stock in the open market for an aggregate
price of approximately $650,000. Additionally, Mack-Cali announced that Bill
Glazer, president of Keystone Property Group, Mack-Cali's joint venture
partner, acquired 10,000 Mack-Cali common shares in the open market for an
aggregate price of approximately $215,000.
Mitchell E. Hersh, president, chief executive officer, and director of
Mack-Cali, and chairman and chief executive officer of the Roseland
subsidiary, also acquired 5,000 common shares in the open market for an
aggregate price of approximately $108,000. Mr. Hersh now holds 669,639 shares
of Mack-Cali common stock (vested and unvested), 121,424 operating partnership
units, and 16,667 retirement units.
Mack-Cali Realty Corporation is a fully integrated, self-administered,
self-managed real estate investment trust (REIT) providing management,
leasing, development, construction and other tenant-related services for its
class A real estate portfolio. Mack-Cali owns or has interests in 257
properties, consisting of 248 office and office/flex properties totaling
approximately 28.8 million square feet and nine multi-family rental properties
containing over 3,300 residential units, all located in the Northeast. The
properties enable the Company to provide a full complement of real estate
opportunities to its diverse base of commercial and residential tenants.
Additional information on Mack-Cali Realty Corporation and the commercial real
estate properties and multi-family residential communities available for lease
can be found on the Company's website at www.mack-cali.com.
Statements made in this press release may be forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements can be identified by the use of words such as
"may," "will," "plan," "potential," "should," "expect," "anticipate,"
"estimate," "continue," or comparable terminology. Such forward-looking
statements are inherently subject to certain risks, trends and uncertainties,
many of which the Company cannot predict with accuracy and some of which the
Company might not even anticipate, and involve factors that may cause actual
results to differ materially from those projected or suggested. Readers are
cautioned not to place undue reliance on these forward-looking statements and
are advised to consider the factors listed above together with the additional
factors under the heading "Disclosure Regarding Forward-Looking Statements"
and "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be
supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which
are incorporated herein by reference. The Company assumes no obligation to
update or supplement forward-looking statements that become untrue because of
subsequent events, new information or otherwise.
Contacts: Barry Lefkowitz Ilene Jablonski
Mack-Cali Realty Corporation Mack-Cali Realty Corporation
Executive Vice President Vice President of Marketing
and Chief Financial Officer (732) 590-1000
SOURCE Mack-Cali Realty Corporation
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