Mortgages, Loans Payable And Other Obligations (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
Debt Instrument [Line Items] |
|
Summary Of Mortgages, Loans Payable And Other Obligations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective
|
|
|
|
December 31,
|
|
|
December 31,
|
|
|
|
Property/Project Name
|
Lender
|
|
Rate (a)
|
|
|
|
2017
|
|
|
2016
|
|
Maturity
|
|
Curtis Center (b)
|
CCRE & PREFG
|
LIBOR+5.91
|
%
|
|
|
-
|
|
$
|
75,000
|
|
-
|
|
Chase II (c)
|
Fifth Third Bank
|
LIBOR+2.25
|
%
|
|
|
-
|
|
|
34,708
|
|
-
|
|
23 Main Street
|
Berkadia CMBS
|
|
5.59
|
%
|
|
$
|
27,090
|
|
|
27,838
|
|
09/01/18
|
|
Port Imperial 4/5 Hotel (d)
|
Fifth Third Bank & Santander
|
LIBOR+4.50
|
%
|
|
|
43,674
|
|
|
14,919
|
|
10/06/18
|
|
Harborside Plaza 5 (e)
|
The Northwestern Mutual Life Insurance Co.
|
6.84
|
%
|
|
|
209,257
|
|
|
213,640
|
|
11/01/18
|
|
|
& New York Life Insurance Co.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance Co.
|
|
|
|
|
|
|
|
|
|
|
|
|
One River Center (f)
|
Guardian Life Insurance Co.
|
|
7.31
|
%
|
|
|
40,485
|
|
|
41,197
|
|
02/01/19
|
|
Park Square
|
Wells Fargo Bank N.A.
|
LIBOR+1.87
|
%
|
|
|
26,567
|
|
|
27,500
|
|
04/10/19
|
|
250 Johnson (g)
|
M&T Bank
|
LIBOR+2.35
|
%
|
|
|
32,491
|
|
|
2,440
|
|
05/20/19
|
|
Portside 5/6 (h)
|
Citizens Bank
|
LIBOR+2.50
|
%
|
|
|
45,778
|
|
|
-
|
|
09/29/19
|
|
Port Imperial South 11 (i)
|
JPMorgan Chase
|
LIBOR+2.35
|
%
|
|
|
46,113
|
|
|
14,073
|
|
11/24/19
|
|
Worcester (j)
|
Citizens Bank
|
LIBOR+2.50
|
%
|
|
|
37,821
|
|
|
-
|
|
12/10/19
|
|
Monaco (k)
|
The Northwestern Mutual Life Insurance Co.
|
|
3.15
|
%
|
|
|
169,987
|
|
|
-
|
|
02/01/21
|
|
Port Imperial South 4/5 Retail
|
American General Life & A/G PC
|
|
4.56
|
%
|
|
|
4,000
|
|
|
4,000
|
|
12/01/21
|
|
The Chase at Overlook Ridge
|
New York Community Bank
|
|
3.74
|
%
|
|
|
-
|
|
|
72,500
|
|
02/01/23
|
|
Portside 7
|
CBRE Capital Markets/FreddieMac
|
|
3.57
|
%
|
|
|
58,998
|
|
|
58,998
|
|
08/01/23
|
|
Alterra I & II
|
Capital One/FreddieMac
|
|
3.85
|
%
|
|
|
100,000
|
|
|
-
|
|
02/01/24
|
|
The Chase at Overlook Ridge and Chase II (c)
|
New York Community Bank
|
|
3.74
|
%
|
|
|
135,750
|
|
|
-
|
|
01/01/25
|
|
101 Hudson
|
Wells Fargo CMBS
|
|
3.20
|
%
|
|
|
250,000
|
|
|
250,000
|
|
10/11/26
|
|
Short Hills Portfolio (l)
|
Wells Fargo CMBS
|
|
4.15
|
%
|
|
|
124,500
|
|
|
-
|
|
04/01/27
|
|
150 Main St.
|
Natixis Real Estate Capital LLC
|
4.48
|
%
|
|
|
41,000
|
|
|
26,642
|
|
08/05/27
|
|
Port Imperial South 4/5 Garage
|
American General Life & A/G PC
|
|
4.85
|
%
|
|
|
32,600
|
|
|
32,600
|
|
12/01/29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal balance outstanding
|
|
|
|
|
|
1,426,111
|
|
|
896,055
|
|
|
|
Unamortized deferred financing costs
|
|
|
|
|
|
|
(7,976)
|
|
|
(7,470)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mortgages, loans payable and other obligations, net
|
|
|
|
|
$
|
1,418,135
|
|
$
|
888,585
|
|
|
|
|
|
|
|
(a)
|
Reflects effective rate of debt, including deferred financing costs, comprised of the cost of terminated treasury lock agreements (if any), debt initiation costs,
|
|
mark-to-market adjustment of acquired debt and other transaction costs, as applicable.
|
(b)
|
The Company owned a 50 percent tenants-in-common interest in the Curtis Center property. On September 29, 2017, the Company sold its equity interest to
|
|
its joint venture partner, which included the retirement of this $75 million loan balance.
|
(c)
|
The Chase II construction loan was paid off on December 5, 2017 using the proceeds of a new combined mortgage loan secured by The Chase at Overlook Ridge
|
|
and Chase II.
|
(d)
|
This construction loan has a maximum borrowing capacity of $94 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 20 basis points for each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(e)
|
On January 8, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $8.4 million using borrowings from the Company's
|
|
unsecured revolving credit facility.
|
(f)
|
Mortgage is collateralized by the three properties comprising One River Center.
|
(g)
|
This construction loan has a maximum borrowing capacity of $42 million and provides, subject to certain conditions, a one-year extension option with a fee
|
|
of 25 basis points. See Note 12: Commitments and Contingencies - Construction Projects.
|
(h)
|
This construction loan has a maximum borrowing capacity of $73 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 15 basis points each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(i)
|
This construction loan has a maximum borrowing capacity of $78 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 15 basis points each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(j)
|
This construction loan has a maximum borrowing capacity of $58 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 15 basis points each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(k)
|
This mortgage loan, which includes unamortized fair value adjustment of $5.0 million as of December 31, 2017, was assumed by the
|
|
Company in April 2017 with the consolidation of all the interests in Monaco Towers. See Note 3: Recent Transactions - Consolidations.
|
(l)
|
This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.
|
|
Schedule Of Principal Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Scheduled
|
|
|
Principal
|
|
|
|
Period
|
|
Amortization
|
|
|
Maturities
|
|
|
Total
|
2018 (a)
|
$
|
6,977
|
|
$
|
275,210
|
|
$
|
282,187
|
2019
|
|
665
|
|
|
576,489
|
|
|
577,154
|
2020
|
|
2,903
|
|
|
325,000
|
|
|
327,903
|
2021
|
|
3,227
|
|
|
318,800
|
|
|
322,027
|
2022
|
|
3,284
|
|
|
300,000
|
|
|
303,284
|
Thereafter
|
|
10,642
|
|
|
997,927
|
|
|
1,008,569
|
Sub-total
|
|
27,698
|
|
|
2,793,426
|
|
|
2,821,124
|
Adjustment for unamortized debt
|
|
|
|
|
|
|
|
|
discount/premium, net
|
|
|
|
|
|
|
|
|
December 31, 2017
|
|
(3,505)
|
|
|
-
|
|
|
(3,505)
|
Unamortized mark to market
|
|
4,987
|
|
|
-
|
|
|
4,987
|
Unamortized deferred financing costs
|
|
(13,038)
|
|
|
|
|
|
(13,038)
|
|
|
|
|
|
|
|
|
|
Totals/Weighted Average
|
$
|
16,142
|
|
$
|
2,793,426
|
|
$
|
2,809,568
|
(a)Includes a mortgage payable amount of approximately $209 million that the Company prepaid in January 2018.
|
Mack-Cali Realty LP [Member] |
|
Debt Instrument [Line Items] |
|
Summary Of Mortgages, Loans Payable And Other Obligations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effective
|
|
|
|
December 31,
|
|
|
December 31,
|
|
|
|
Property/Project Name
|
Lender
|
|
Rate (a)
|
|
|
|
2017
|
|
|
2016
|
|
Maturity
|
|
Curtis Center (b)
|
CCRE & PREFG
|
LIBOR+5.91
|
%
|
|
|
-
|
|
$
|
75,000
|
|
-
|
|
Chase II (c)
|
Fifth Third Bank
|
LIBOR+2.25
|
%
|
|
|
-
|
|
|
34,708
|
|
-
|
|
23 Main Street
|
Berkadia CMBS
|
|
5.59
|
%
|
|
$
|
27,090
|
|
|
27,838
|
|
09/01/18
|
|
Port Imperial 4/5 Hotel (d)
|
Fifth Third Bank & Santander
|
LIBOR+4.50
|
%
|
|
|
43,674
|
|
|
14,919
|
|
10/06/18
|
|
Harborside Plaza 5 (e)
|
The Northwestern Mutual Life Insurance Co.
|
6.84
|
%
|
|
|
209,257
|
|
|
213,640
|
|
11/01/18
|
|
|
& New York Life Insurance Co.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Insurance Co.
|
|
|
|
|
|
|
|
|
|
|
|
|
One River Center (f)
|
Guardian Life Insurance Co.
|
|
7.31
|
%
|
|
|
40,485
|
|
|
41,197
|
|
02/01/19
|
|
Park Square
|
Wells Fargo Bank N.A.
|
LIBOR+1.87
|
%
|
|
|
26,567
|
|
|
27,500
|
|
04/10/19
|
|
250 Johnson (g)
|
M&T Bank
|
LIBOR+2.35
|
%
|
|
|
32,491
|
|
|
2,440
|
|
05/20/19
|
|
Portside 5/6 (h)
|
Citizens Bank
|
LIBOR+2.50
|
%
|
|
|
45,778
|
|
|
-
|
|
09/29/19
|
|
Port Imperial South 11 (i)
|
JPMorgan Chase
|
LIBOR+2.35
|
%
|
|
|
46,113
|
|
|
14,073
|
|
11/24/19
|
|
Worcester (j)
|
Citizens Bank
|
LIBOR+2.50
|
%
|
|
|
37,821
|
|
|
-
|
|
12/10/19
|
|
Monaco (k)
|
The Northwestern Mutual Life Insurance Co.
|
|
3.15
|
%
|
|
|
169,987
|
|
|
-
|
|
02/01/21
|
|
Port Imperial South 4/5 Retail
|
American General Life & A/G PC
|
|
4.56
|
%
|
|
|
4,000
|
|
|
4,000
|
|
12/01/21
|
|
The Chase at Overlook Ridge
|
New York Community Bank
|
|
3.74
|
%
|
|
|
-
|
|
|
72,500
|
|
02/01/23
|
|
Portside 7
|
CBRE Capital Markets/FreddieMac
|
|
3.57
|
%
|
|
|
58,998
|
|
|
58,998
|
|
08/01/23
|
|
Alterra I & II
|
Capital One/FreddieMac
|
|
3.85
|
%
|
|
|
100,000
|
|
|
-
|
|
02/01/24
|
|
The Chase at Overlook Ridge and Chase II (c)
|
New York Community Bank
|
|
3.74
|
%
|
|
|
135,750
|
|
|
-
|
|
01/01/25
|
|
101 Hudson
|
Wells Fargo CMBS
|
|
3.20
|
%
|
|
|
250,000
|
|
|
250,000
|
|
10/11/26
|
|
Short Hills Portfolio (l)
|
Wells Fargo CMBS
|
|
4.15
|
%
|
|
|
124,500
|
|
|
-
|
|
04/01/27
|
|
150 Main St.
|
Natixis Real Estate Capital LLC
|
4.48
|
%
|
|
|
41,000
|
|
|
26,642
|
|
08/05/27
|
|
Port Imperial South 4/5 Garage
|
American General Life & A/G PC
|
|
4.85
|
%
|
|
|
32,600
|
|
|
32,600
|
|
12/01/29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal balance outstanding
|
|
|
|
|
|
1,426,111
|
|
|
896,055
|
|
|
|
Unamortized deferred financing costs
|
|
|
|
|
|
|
(7,976)
|
|
|
(7,470)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mortgages, loans payable and other obligations, net
|
|
|
|
|
$
|
1,418,135
|
|
$
|
888,585
|
|
|
|
|
|
|
|
(a)
|
Reflects effective rate of debt, including deferred financing costs, comprised of the cost of terminated treasury lock agreements (if any), debt initiation costs,
|
|
mark-to-market adjustment of acquired debt and other transaction costs, as applicable.
|
(b)
|
The Company owned a 50 percent tenants-in-common interest in the Curtis Center property. On September 29, 2017, the Company sold its equity interest to
|
|
its joint venture partner, which included the retirement of this $75 million loan balance.
|
(c)
|
The Chase II construction loan was paid off on December 5, 2017 using the proceeds of a new combined mortgage loan secured by The Chase at Overlook Ridge
|
|
and Chase II.
|
(d)
|
This construction loan has a maximum borrowing capacity of $94 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 20 basis points for each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(e)
|
On January 8, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $8.4 million using borrowings from the Company's
|
|
unsecured revolving credit facility.
|
(f)
|
Mortgage is collateralized by the three properties comprising One River Center.
|
(g)
|
This construction loan has a maximum borrowing capacity of $42 million and provides, subject to certain conditions, a one-year extension option with a fee
|
|
of 25 basis points. See Note 12: Commitments and Contingencies - Construction Projects.
|
(h)
|
This construction loan has a maximum borrowing capacity of $73 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 15 basis points each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(i)
|
This construction loan has a maximum borrowing capacity of $78 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 15 basis points each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(j)
|
This construction loan has a maximum borrowing capacity of $58 million and provides, subject to certain conditions, two one-year extension options with a fee
|
|
of 15 basis points each year. See Note 12: Commitments and Contingencies - Construction Projects.
|
(k)
|
This mortgage loan, which includes unamortized fair value adjustment of $5.0 million as of December 31, 2017, was assumed by the
|
|
Company in April 2017 with the consolidation of all the interests in Monaco Towers. See Note 3: Recent Transactions - Consolidations.
|
(l)
|
This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.
|
|
Schedule Of Principal Payments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Scheduled
|
|
|
Principal
|
|
|
|
Period
|
|
Amortization
|
|
|
Maturities
|
|
|
Total
|
2018 (a)
|
$
|
6,977
|
|
$
|
275,210
|
|
$
|
282,187
|
2019
|
|
665
|
|
|
576,489
|
|
|
577,154
|
2020
|
|
2,903
|
|
|
325,000
|
|
|
327,903
|
2021
|
|
3,227
|
|
|
318,800
|
|
|
322,027
|
2022
|
|
3,284
|
|
|
300,000
|
|
|
303,284
|
Thereafter
|
|
10,642
|
|
|
997,927
|
|
|
1,008,569
|
Sub-total
|
|
27,698
|
|
|
2,793,426
|
|
|
2,821,124
|
Adjustment for unamortized debt
|
|
|
|
|
|
|
|
|
discount/premium, net
|
|
|
|
|
|
|
|
|
December 31, 2017
|
|
(3,505)
|
|
|
-
|
|
|
(3,505)
|
Unamortized mark to market
|
|
4,987
|
|
|
-
|
|
|
4,987
|
Unamortized deferred financing costs
|
|
(13,038)
|
|
|
|
|
|
(13,038)
|
|
|
|
|
|
|
|
|
|
Totals/Weighted Average
|
$
|
16,142
|
|
$
|
2,793,426
|
|
$
|
2,809,568
|
(a)Includes a mortgage payable amount of approximately $209 million that the Company prepaid in January 2018.
|