Jones Lang LaSalle
Mack-Cali Realty Corporation Announces First Quarter Results
CRANFORD, N.J.--(BUSINESS WIRE)--May 4, 2006--Mack-Cali Realty Corporation (NYSE:CLI) today reported its results for the first quarter 2006.
Highlights of the quarter included:
-- Reported net income per diluted share of $0.52;
-- Reported funds from operations per diluted share of $1.05;
-- Earned $16 million from investment and sale of marketable securities;
-- Acquired a seven-building office complex in Maryland for $162 million;
-- Signed definitive agreements for the Gale transactions; and
-- Declared $0.63 per share quarterly common stock dividend.
FINANCIAL HIGHLIGHTS
Net income available to common shareholders for the first quarter 2006 equaled $32.6 million, or $0.52 per share, versus $22.4 million, or $0.36 per share, for the same quarter last year.
Funds from operations (FFO) available to common shareholders for the quarter ended March 31, 2006 amounted to $80.8 million, or $1.05 per share, versus $67.1 million, or $0.89 per share, for the quarter ended March 31, 2005.
Included in net income and FFO for the 2006 period was $16.0 million ($13.0 million, after deduction for minority interest) resulting from the investment and sale of marketable securities available for sale during the period, which represents $0.21 per share in net income and FFO per share.
Total revenues for the first quarter 2006 increased 7.4 percent to $163.5 million as compared to $152.3 million for the same quarter last year.
All per share amounts presented above are on a diluted basis.
The Company had 62,230,447 shares of common stock, 10,000 shares of 8 percent Series C cumulative redeemable perpetual preferred stock ($25,000 liquidation value per share), and 15,558,056 common operating partnership units outstanding as of March 31, 2006.
The Company had a total of 77,788,503 common shares/common units outstanding at March 31, 2006.
As of March 31, 2006, the Company had total indebtedness of approximately $2.1 billion, with a weighted average annual interest rate of 6.10 percent. The Company had a total market capitalization of $5.9 billion and a debt-to-undepreciated assets ratio of 41.6 percent at March 31, 2006. The Company had an interest coverage ratio of 3.6 times for the quarter ended March 31, 2006.
Mitchell E. Hersh, president and chief executive officer, commented, "During the quarter we continued to strengthen our position in the Northeast through strategic acquisitions and build-to-suit development." He continued, "We look forward to completing our pending acquisition of The Gale Real Estate Services Company and interests in 20 New Jersey office properties, and to pursue revenue growth through new business platforms."
The following is a summary of the Company's recent activity:
ACQUISITIONS
In March, the Company completed its acquisition of all the interests in Capital Office Park, a seven-building class A office complex totaling approximately 842,300 square feet in Greenbelt, Maryland, for approximately $161.7 million. In addition to the assumption of approximately $63.2 million of mortgage debt, the Company issued 1,942,334 common operating partnership units in Mack-Cali Realty, L.P. valued at $87.2 million, and paid the balance in cash. The agreement also provides the Company the option to acquire approximately 43 acres of adjacent land sites to accommodate the development of up to 600,000 square feet of office space for $13 million. Capital Office Park is 83.9 percent leased to 88 tenants.
Also, in March, the Company signed definitive contracts for its previously announced agreements in principle to acquire The Gale Real Estate Services Company and interests in approximately 2.8 million square feet of office properties in New Jersey.
Pursuant to the contracts, the Company will:
-- Acquire The Gale Real Estate Services Company for $12 million in cash, $10 million in common operating partnership units, and up to an additional $18 million in cash based on an earn-out formula. The Company will also acquire from affiliates of The Gale Real Estate Company stakes in certain development/joint ventures with institutional investors on terms to be determined prior to closing;
-- Acquire substantially all the ownership interests in 13 class A office properties, valued at $378 million, and totaling 1.9 million square feet in Northern and Central New Jersey; and
-- Acquire approximately one-half of the ownership interests in seven class A office properties, valued at $127.5 million, and totaling approximately 900,000 square feet, also in Northern and Central New Jersey.
The transactions will be financed through a combination of the assumption of existing, and placement of new, mortgage debt, credit facility drawings, cash and the issuance of common operating partnership units.
DEVELOPMENT
In March, the Company entered into a joint venture agreement with The PRC Group to develop a 92,878 square-foot class A office building in Red Bank, New Jersey. The entire building has been pre-leased to Hovnanian Enterprises, Inc. for 10 years, and will be developed by the Company. Expected to be completed by the third quarter of 2007, the building includes 88,000 square feet of office space, 4,878 square feet of retail space, and a four-story parking garage. The property will be developed on a 3.4-acre land site located at 141 West Front Street in downtown Red Bank contributed to the joint venture by The PRC Group.
FINANCING ACTIVITY
In January, the Company's operating partnership, Mack-Cali Realty, L.P., sold $200 million of senior unsecured notes, comprised of $100 million of six-year notes and $100 million of 10-year notes. The six-year notes bear interest at 5.25 percent, are due January 15, 2012, and were priced to yield 5.48 percent. The 10-year notes are a re-opening of previously-issued $100 million, 5.80 percent notes due January 15, 2016, which were re-opened at 101.081 to yield 5.65 percent, plus accrued interest. Following the re-opening, the outstanding size of the 5.80 percent notes is $200 million. The proceeds from the issuance of both series of notes of approximately $200.8 million were applied to the repayment of outstanding borrowings under the Company's $600 million unsecured revolving credit facility.
DIVIDENDS
In March, the Company's Board of Directors declared a cash dividend of $0.63 per common share (indicating an annual rate of $2.52 per common share) for the first quarter 2006, which was paid on April 17, 2006 to shareholders of record as of April 5, 2006.
The Board also declared a cash dividend on its 8 percent Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock) equal to $0.50 per depositary share for the period January 15, 2006 through April 14, 2006. The dividend was paid on April 17, 2006 to shareholders of record as of April 5, 2006.
LEASING INFORMATION
Mack-Cali's consolidated in-service portfolio was 90.4 percent leased at March 31, 2006, as compared to 91.0 percent at December 31, 2005.
For the quarter ended March 31, 2006, the Company executed 170 leases totaling 814,512 square feet, consisting of 663,919 square feet of office space and 150,593 square feet of office/flex space. Of these totals, 358,087 square feet were for new leases and 456,425 square feet were for lease renewals and other tenant retention transactions.
Highlights of the quarter's leasing transactions include:
IN NORTHERN NEW JERSEY:
-- Allstate Insurance Company signed a 34,142 square-foot transaction at 61 South Paramus Road in Paramus, New Jersey, representing a five-year expansion of 11,118 square feet and a four-year extension of 23,024 square feet. 61 South Paramus Road is a 269,191 square-foot office building which is 97.4 percent leased.
-- True Partners Consulting LLC, a tax and business advisory firm, signed a new 10-year lease for 13,236 square feet at 105 Eisenhower Parkway in Roseland, New Jersey. 105 Eisenhower Parkway is a 220,000 square-foot office building which is 80.7 percent leased.
-- Ameriprise Financial Services, Inc., a financial advisory firm, signed a new five year, six-month lease for 12,968 square feet at 5 Sylvan Way in Parsippany, New Jersey. 5 Sylvan Way is a 151,383 square-foot office building which is 98 percent leased.
-- Garban, LLC, a subsidiary of ICAP plc, expanded its presence at Harborside Financial Center Plaza 5 in Jersey City, New Jersey by 11,809 square feet for 11 years and seven months. The firm now leases 159,834 square feet at the 977,225 square-foot office building which is 97.6 percent leased.
-- PricewaterhouseCoopers, LLP, a global accounting firm, signed a new four year, six-month lease for 11,624 square feet at 101 Hudson Street in Jersey City, New Jersey. 101 Hudson is a 1.25 million square-foot office building which is 100 percent leased.
IN CENTRAL NEW JERSEY:
-- Lomurro, Davison, Eastman & Munoz, PA, a law firm, signed a four-year renewal of its lease for 19,023 square feet at 100 Willowbrook Road in Freehold, New Jersey. The 60,557 square-foot office building is located in the Monmouth Executive Center which is 74.8 percent leased.
-- Allstate Insurance Company renewed 18,538 square feet at 65 Jackson Drive in Cranford, New Jersey for five years. 65 Jackson Drive is an 82,778 square-foot office building which is 100 percent leased.
-- Rutgers University signed a new seven-year, seven-month lease for 12,482 square feet at 500 College Road East in Plainsboro, New Jersey. 500 College Road East is a 158,235 square-foot office building which is 91.1 percent leased.
IN SUBURBAN PHILADELPHIA / SOUTHERN NEW JERSEY:
-- Allstate Insurance Company signed a 31,013 square-foot transaction at 224 Strawbridge Drive in Moorestown, New Jersey, representing a renewal of 25,497 square feet and expansion of 5,516 square feet. 224 Strawbridge Drive is a 74,000 square-foot office building which is 92.8 percent leased.
-- Quaker Chroma Imaging, a digital imaging and photographic services company, signed a new eight-year, three-month lease for 20,000 square feet at 225 Executive Drive in Moorestown, New Jersey. The 50,600 square-foot office/flex building is located in the Moorestown West Corporate Center which is 48.6 percent leased.
IN WESTCHESTER COUNTY, NEW YORK:
-- Progressive Casualty Insurance, a subsidiary of The Progressive Corporation, signed a transaction totaling 27,105 square feet at 1 Executive Boulevard in Yonkers, New York. In addition to a five-year expansion of 10,254 square feet, Progressive's existing lease of 16,851 square feet was extended for three years and eight months. 1 Executive Boulevard is a 112,000 square-foot office building located in the South Westchester Executive Park which is 100 percent leased.
-- Wachovia Bank, N.A. renewed its lease of 22,500 square feet at 50 Main Street in White Plains, New York for 10 years and five months. 50 Main Street is a 309,000 square-foot office building located at the Westchester Financial Center in downtown White Plains which is 100 percent leased.
-- Montefiore Medical Center renewed its lease for 19,000 square feet at 200 Corporate Boulevard South in Yonkers, New York for 10 years. 200 Corporate Boulevard South, also located in the South Westchester Executive Park, is an 84,000 square-foot office/flex building which is 99.8 percent leased.
IN OTHER MARKETS:
-- The State of Colorado signed a three-year renewal of its lease for 15,341 square feet at 400 South Colorado Boulevard in Denver, Colorado. The building is a 125,415 square-foot office building which is 87.9 percent leased.
Included in the Company's Supplemental Operating and Financial Data for the first quarter 2006 are schedules highlighting the leasing statistics for both the Company's consolidated and joint venture properties.
The supplemental information is available on Mack-Cali's website, as follows:
http://www.mack-cali.com/graphics/shareholders/pdfs/1st.quarter.sp.06.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
ADDITIONAL INFORMATION
The Company expressed comfort with net income and FFO per diluted share for the second quarter and full year 2006, as follows:
Second Quarter Full Year
2006 Range 2006 Range
----------------------------------------------------------------------
Net income available to common
shareholders $0.30 - $0.32 $1.40 - $1.56
Add: Real estate-related depreciation
and amortization 0.53 2.12
Funds from operations available to
common shareholders $0.83 - $0.85 $3.52 - $3.68
These estimates reflect management's view of current market conditions and certain assumptions with regard to rental rates, occupancy levels and other assumptions/projections. Actual results could differ from these estimates.
An earnings conference call with management is scheduled for today, May 4, 2006 at 11:00 a.m. Eastern Time, which will be broadcast live via the Internet at:
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=CLI&script=1010&item_id=1298806 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
The live conference call is also accessible by calling (913) 981-4910 and requesting the Mack-Cali conference call.
The conference call will be rebroadcast on Mack-Cali's website at http://www.mack-cali.com beginning at 2:00 p.m. Eastern Time on May 4, 2006 through May 11, 2006.
A replay of the call will also be accessible during the same time period by calling (719) 457-0820 and using the pass code 7624128.
Copies of Mack-Cali's 2006 Form 10-Q and Supplemental Operating and Financial Data are available on Mack-Cali's website, as follows:
First Quarter 2006 Form 10-Q:
http://www.mack-cali.com/graphics/shareholders/pdfs/1st.quarter.10q.06.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
First Quarter 2006 Supplemental Operating and Financial Data:
http://www.mack-cali.com/graphics/shareholders/pdfs/1st.quarter.sp.06.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
In addition, these items are available upon request from:
Mack-Cali Investor Relations Dept.
11 Commerce Drive, Cranford, NJ 07016-3501
(908) 272-8000 ext. 2484
Mack-Cali Realty Corporation Announces First Quarter Results
CRANFORD, N.J.--(BUSINESS WIRE)--May 4, 2006--Mack-Cali Realty Corporation (NYSE:CLI) today reported its results for the first quarter 2006.
Highlights of the quarter included:
-- Reported net income per diluted share of $0.52;
-- Reported funds from operations per diluted share of $1.05;
-- Earned $16 million from investment and sale of marketable securities;
-- Acquired a seven-building office complex in Maryland for $162 million;
-- Signed definitive agreements for the Gale transactions; and
-- Declared $0.63 per share quarterly common stock dividend.
FINANCIAL HIGHLIGHTS
Net income available to common shareholders for the first quarter 2006 equaled $32.6 million, or $0.52 per share, versus $22.4 million, or $0.36 per share, for the same quarter last year.
Funds from operations (FFO) available to common shareholders for the quarter ended March 31, 2006 amounted to $80.8 million, or $1.05 per share, versus $67.1 million, or $0.89 per share, for the quarter ended March 31, 2005.
Included in net income and FFO for the 2006 period was $16.0 million ($13.0 million, after deduction for minority interest) resulting from the investment and sale of marketable securities available for sale during the period, which represents $0.21 per share in net income and FFO per share.
Total revenues for the first quarter 2006 increased 7.4 percent to $163.5 million as compared to $152.3 million for the same quarter last year.
All per share amounts presented above are on a diluted basis.
The Company had 62,230,447 shares of common stock, 10,000 shares of 8 percent Series C cumulative redeemable perpetual preferred stock ($25,000 liquidation value per share), and 15,558,056 common operating partnership units outstanding as of March 31, 2006.
The Company had a total of 77,788,503 common shares/common units outstanding at March 31, 2006.
As of March 31, 2006, the Company had total indebtedness of approximately $2.1 billion, with a weighted average annual interest rate of 6.10 percent. The Company had a total market capitalization of $5.9 billion and a debt-to-undepreciated assets ratio of 41.6 percent at March 31, 2006. The Company had an interest coverage ratio of 3.6 times for the quarter ended March 31, 2006.
Mitchell E. Hersh, president and chief executive officer, commented, "During the quarter we continued to strengthen our position in the Northeast through strategic acquisitions and build-to-suit development." He continued, "We look forward to completing our pending acquisition of The Gale Real Estate Services Company and interests in 20 New Jersey office properties, and to pursue revenue growth through new business platforms."
The following is a summary of the Company's recent activity:
ACQUISITIONS
In March, the Company completed its acquisition of all the interests in Capital Office Park, a seven-building class A office complex totaling approximately 842,300 square feet in Greenbelt, Maryland, for approximately $161.7 million. In addition to the assumption of approximately $63.2 million of mortgage debt, the Company issued 1,942,334 common operating partnership units in Mack-Cali Realty, L.P. valued at $87.2 million, and paid the balance in cash. The agreement also provides the Company the option to acquire approximately 43 acres of adjacent land sites to accommodate the development of up to 600,000 square feet of office space for $13 million. Capital Office Park is 83.9 percent leased to 88 tenants.
Also, in March, the Company signed definitive contracts for its previously announced agreements in principle to acquire The Gale Real Estate Services Company and interests in approximately 2.8 million square feet of office properties in New Jersey.
Pursuant to the contracts, the Company will:
-- Acquire The Gale Real Estate Services Company for $12 million in cash, $10 million in common operating partnership units, and up to an additional $18 million in cash based on an earn-out formula. The Company will also acquire from affiliates of The Gale Real Estate Company stakes in certain development/joint ventures with institutional investors on terms to be determined prior to closing;
-- Acquire substantially all the ownership interests in 13 class A office properties, valued at $378 million, and totaling 1.9 million square feet in Northern and Central New Jersey; and
-- Acquire approximately one-half of the ownership interests in seven class A office properties, valued at $127.5 million, and totaling approximately 900,000 square feet, also in Northern and Central New Jersey.
The transactions will be financed through a combination of the assumption of existing, and placement of new, mortgage debt, credit facility drawings, cash and the issuance of common operating partnership units.
DEVELOPMENT
In March, the Company entered into a joint venture agreement with The PRC Group to develop a 92,878 square-foot class A office building in Red Bank, New Jersey. The entire building has been pre-leased to Hovnanian Enterprises, Inc. for 10 years, and will be developed by the Company. Expected to be completed by the third quarter of 2007, the building includes 88,000 square feet of office space, 4,878 square feet of retail space, and a four-story parking garage. The property will be developed on a 3.4-acre land site located at 141 West Front Street in downtown Red Bank contributed to the joint venture by The PRC Group.
FINANCING ACTIVITY
In January, the Company's operating partnership, Mack-Cali Realty, L.P., sold $200 million of senior unsecured notes, comprised of $100 million of six-year notes and $100 million of 10-year notes. The six-year notes bear interest at 5.25 percent, are due January 15, 2012, and were priced to yield 5.48 percent. The 10-year notes are a re-opening of previously-issued $100 million, 5.80 percent notes due January 15, 2016, which were re-opened at 101.081 to yield 5.65 percent, plus accrued interest. Following the re-opening, the outstanding size of the 5.80 percent notes is $200 million. The proceeds from the issuance of both series of notes of approximately $200.8 million were applied to the repayment of outstanding borrowings under the Company's $600 million unsecured revolving credit facility.
DIVIDENDS
In March, the Company's Board of Directors declared a cash dividend of $0.63 per common share (indicating an annual rate of $2.52 per common share) for the first quarter 2006, which was paid on April 17, 2006 to shareholders of record as of April 5, 2006.
The Board also declared a cash dividend on its 8 percent Series C cumulative redeemable perpetual preferred stock ($25 liquidation value per depositary share, each representing 1/100th of a share of preferred stock) equal to $0.50 per depositary share for the period January 15, 2006 through April 14, 2006. The dividend was paid on April 17, 2006 to shareholders of record as of April 5, 2006.
LEASING INFORMATION
Mack-Cali's consolidated in-service portfolio was 90.4 percent leased at March 31, 2006, as compared to 91.0 percent at December 31, 2005.
For the quarter ended March 31, 2006, the Company executed 170 leases totaling 814,512 square feet, consisting of 663,919 square feet of office space and 150,593 square feet of office/flex space. Of these totals, 358,087 square feet were for new leases and 456,425 square feet were for lease renewals and other tenant retention transactions.
Highlights of the quarter's leasing transactions include:
IN NORTHERN NEW JERSEY:
-- Allstate Insurance Company signed a 34,142 square-foot transaction at 61 South Paramus Road in Paramus, New Jersey, representing a five-year expansion of 11,118 square feet and a four-year extension of 23,024 square feet. 61 South Paramus Road is a 269,191 square-foot office building which is 97.4 percent leased.
-- True Partners Consulting LLC, a tax and business advisory firm, signed a new 10-year lease for 13,236 square feet at 105 Eisenhower Parkway in Roseland, New Jersey. 105 Eisenhower Parkway is a 220,000 square-foot office building which is 80.7 percent leased.
-- Ameriprise Financial Services, Inc., a financial advisory firm, signed a new five year, six-month lease for 12,968 square feet at 5 Sylvan Way in Parsippany, New Jersey. 5 Sylvan Way is a 151,383 square-foot office building which is 98 percent leased.
-- Garban, LLC, a subsidiary of ICAP plc, expanded its presence at Harborside Financial Center Plaza 5 in Jersey City, New Jersey by 11,809 square feet for 11 years and seven months. The firm now leases 159,834 square feet at the 977,225 square-foot office building which is 97.6 percent leased.
-- PricewaterhouseCoopers, LLP, a global accounting firm, signed a new four year, six-month lease for 11,624 square feet at 101 Hudson Street in Jersey City, New Jersey. 101 Hudson is a 1.25 million square-foot office building which is 100 percent leased.
IN CENTRAL NEW JERSEY:
-- Lomurro, Davison, Eastman & Munoz, PA, a law firm, signed a four-year renewal of its lease for 19,023 square feet at 100 Willowbrook Road in Freehold, New Jersey. The 60,557 square-foot office building is located in the Monmouth Executive Center which is 74.8 percent leased.
-- Allstate Insurance Company renewed 18,538 square feet at 65 Jackson Drive in Cranford, New Jersey for five years. 65 Jackson Drive is an 82,778 square-foot office building which is 100 percent leased.
-- Rutgers University signed a new seven-year, seven-month lease for 12,482 square feet at 500 College Road East in Plainsboro, New Jersey. 500 College Road East is a 158,235 square-foot office building which is 91.1 percent leased.
IN SUBURBAN PHILADELPHIA / SOUTHERN NEW JERSEY:
-- Allstate Insurance Company signed a 31,013 square-foot transaction at 224 Strawbridge Drive in Moorestown, New Jersey, representing a renewal of 25,497 square feet and expansion of 5,516 square feet. 224 Strawbridge Drive is a 74,000 square-foot office building which is 92.8 percent leased.
-- Quaker Chroma Imaging, a digital imaging and photographic services company, signed a new eight-year, three-month lease for 20,000 square feet at 225 Executive Drive in Moorestown, New Jersey. The 50,600 square-foot office/flex building is located in the Moorestown West Corporate Center which is 48.6 percent leased.
IN WESTCHESTER COUNTY, NEW YORK:
-- Progressive Casualty Insurance, a subsidiary of The Progressive Corporation, signed a transaction totaling 27,105 square feet at 1 Executive Boulevard in Yonkers, New York. In addition to a five-year expansion of 10,254 square feet, Progressive's existing lease of 16,851 square feet was extended for three years and eight months. 1 Executive Boulevard is a 112,000 square-foot office building located in the South Westchester Executive Park which is 100 percent leased.
-- Wachovia Bank, N.A. renewed its lease of 22,500 square feet at 50 Main Street in White Plains, New York for 10 years and five months. 50 Main Street is a 309,000 square-foot office building located at the Westchester Financial Center in downtown White Plains which is 100 percent leased.
-- Montefiore Medical Center renewed its lease for 19,000 square feet at 200 Corporate Boulevard South in Yonkers, New York for 10 years. 200 Corporate Boulevard South, also located in the South Westchester Executive Park, is an 84,000 square-foot office/flex building which is 99.8 percent leased.
IN OTHER MARKETS:
-- The State of Colorado signed a three-year renewal of its lease for 15,341 square feet at 400 South Colorado Boulevard in Denver, Colorado. The building is a 125,415 square-foot office building which is 87.9 percent leased.
Included in the Company's Supplemental Operating and Financial Data for the first quarter 2006 are schedules highlighting the leasing statistics for both the Company's consolidated and joint venture properties.
The supplemental information is available on Mack-Cali's website, as follows:
http://www.mack-cali.com/graphics/shareholders/pdfs/1st.quarter.sp.06.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
ADDITIONAL INFORMATION
The Company expressed comfort with net income and FFO per diluted share for the second quarter and full year 2006, as follows:
Second Quarter Full Year
2006 Range 2006 Range
----------------------------------------------------------------------
Net income available to common
shareholders $0.30 - $0.32 $1.40 - $1.56
Add: Real estate-related depreciation
and amortization 0.53 2.12
Funds from operations available to
common shareholders $0.83 - $0.85 $3.52 - $3.68
These estimates reflect management's view of current market conditions and certain assumptions with regard to rental rates, occupancy levels and other assumptions/projections. Actual results could differ from these estimates.
An earnings conference call with management is scheduled for today, May 4, 2006 at 11:00 a.m. Eastern Time, which will be broadcast live via the Internet at:
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=CLI&script=1010&item_id=1298806 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
The live conference call is also accessible by calling (913) 981-4910 and requesting the Mack-Cali conference call.
The conference call will be rebroadcast on Mack-Cali's website at http://www.mack-cali.com beginning at 2:00 p.m. Eastern Time on May 4, 2006 through May 11, 2006.
A replay of the call will also be accessible during the same time period by calling (719) 457-0820 and using the pass code 7624128.
Copies of Mack-Cali's 2006 Form 10-Q and Supplemental Operating and Financial Data are available on Mack-Cali's website, as follows:
First Quarter 2006 Form 10-Q:
http://www.mack-cali.com/graphics/shareholders/pdfs/1st.quarter.10q.06.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
First Quarter 2006 Supplemental Operating and Financial Data:
http://www.mack-cali.com/graphics/shareholders/pdfs/1st.quarter.sp.06.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
In addition, these items are available upon request from:
Mack-Cali Investor Relations Dept.
11 Commerce Drive, Cranford, NJ 07016-3501
(908) 272-8000 ext. 2484
posted by Jones Lang LaSalle NJ News Blog at 9:35 AM
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