Exhibit 5.1
[LETTERHEAD OF BALLARD SPAHR ANDREWS & INGERSOLL,
LLP]
May 6, 2009
Mack-Cali Realty Corporation
343 Thornall Street
Edison, New Jersey 08837
Re: Mack-Cali
Realty Corporation, a Maryland corporation (the Company) issuance and sale
of up to Eleven Million Five Hundred Thousand (11,500,000) shares (the Securities)
of Common Stock, par value one cent ($0.01) per share (the Common Stock), of
the Company pursuant to a Registration Statement on Form S-3
(Registration No. 333-155695), as amended and supplemented (the Registration
Statement)
Ladies and Gentlemen:
We
have acted as Maryland corporate counsel to the Company in connection with the
registration of the Securities under the Securities Act of 1933, as amended
(the Act), by the Company pursuant to the Registration Statement. You have requested our opinion with respect
to the matters set forth below.
In
our capacity as Maryland corporate counsel to the Company and for the purposes
of this opinion, we have examined originals, or copies certified or otherwise
identified to our satisfaction, of the following documents (collectively, the Documents):
(i) the charter of
the Company (the Charter) represented by Articles of Incorporation filed with
the State Department of Assessments and Taxation of Maryland (the Department)
on May 24, 1994, Articles of Amendment and Restatement filed with the
Department on July 28, 1994, Articles of Amendment and Restatement filed
with the Department on August 9, 1994, Articles of Amendment filed with
the Department on May 31, 1996, Articles of Amendment filed with the
Department on June 13, 1997, Articles of Amendment filed with the
Department on December 11, 1997, Articles of Amendment filed with the
Department on May 22, 1998, Certificate of Correction filed with the
Department on June 3, 1999, Articles of Restatement filed with the
Department on June 11, 1999, Articles Supplementary filed with the
Department on June 11, 1999,
In
reaching the opinions set forth below, we have assumed the following:
(a) each person
executing any of the Documents on behalf of any party (other than the Company)
is duly authorized to do so;
(b) each natural
person executing any of the Documents is legally competent to do so;
(c) any of the
Documents submitted to us as originals are authentic; the form and content of
any Documents submitted to us as unexecuted drafts do not differ in any respect
relevant to this opinion from the form and content of such documents as
executed and delivered; any of the Documents submitted to us as certified,
facsimile or photostatic copies conform to the original document; all signatures
on all of the Documents are genuine; all public records reviewed or relied upon
by us or on our behalf are true and complete; all statements and information
contained in the Documents are true and complete; there has been no
modification of, or amendment to, any of the Documents, and there has been no
waiver of any provision of any of the Documents by action or omission of the
parties or otherwise;
(d) the Officers
Certificate and all other certificates submitted to us are true and correct
both when made and as of the date hereof;
(e) none of the
Securities will be issued or transferred in violation of the provisions of Article VI
of the Charter, relating to restrictions on ownership and transfer of capital
stock; and
(e) none of the
Securities will be issued and sold to an Interested Stockholder of the Company
or an Affiliate thereof, all as defined in Subtitle 6 of Title 3 of the
Maryland General Corporation Law (MGCL), in violation of Section 3-602
of MGCL.
Based
on our review of the foregoing and subject to the assumptions and
qualifications set forth herein, it is our opinion that, as of the date of this
letter:
(1) The Company is a corporation duly incorporated and validly
existing as a corporation in good standing under the laws of the State of
Maryland.
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(2) The issuance of the Securities has been duly authorized by
all necessary corporate action on the part of the Company and when such
Securities are issued and delivered by the Company in exchange for the
consideration therefor as provided in the Resolutions, such Securities will be
validly issued, fully paid and non-assessable.
The
foregoing opinion is limited to the substantive laws of the State of Maryland,
and we do not express any opinion herein concerning any other law. We express no opinion as to the applicability
or effect of any federal or state securities laws, including the securities
laws of the State of Maryland, or as to federal or state laws regarding
fraudulent transfers. To the extent that
any matter as to which our opinion is expressed herein would be governed by any
jurisdiction other than the State of Maryland, we do not express any opinion on
such matter.
This
opinion letter is issued as of the date hereof and is necessarily limited to
laws now in effect and facts and circumstances presently existing and brought
to our attention. We assume no
obligation to supplement this opinion letter if any applicable laws change
after the date hereof, or if we become aware of any facts or circumstances that
now exist or that occur or arise in the future and may change the opinions
expressed herein after the date hereof.
We
consent to the incorporation by reference of this opinion in the Registration
Statement and further consent to the filing of this opinion as an exhibit to
the applications to securities commissioners for the various states of the
United States for registration of the Securities. We also consent to the identification of our
firm as Maryland counsel to the Company in the section of the Registration
Statement entitled Legal Matters. In
giving this consent, we do not admit that we are within the category of persons
whose consent is required by Section 7 of the Act.
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Very truly yours,
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/s/ Ballard Spahr Andrews & Ingersoll, LLP
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