Mack-Cali Realty Corporation Reports The Completion of its Pennsylvania Transaction with Keystone Property Group, as well as Mack-Cali Stock Purchases
09/03/2013 Category: Miscellaneous
Edison, New Jersey—September 3, 2013—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.