Recent Transactions (Tables)
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3 Months Ended |
Mar. 31, 2018 |
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| Real Estate Properties [Line Items] |
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| Schedule Of Properties Which Commenced Initial Operations |
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Total
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In-Service
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# of
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Development
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Date
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Property
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Location
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Type
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Apartment Units
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Costs
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03/01/18
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145 Front at City Square
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Worcester, MA
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Multi-Family
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365
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$
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94,753
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(a)
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Totals
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365
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$
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94,753
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(a)Development costs as of March 31, 2018 included approximately $4.4 million in land costs. As of March 31, 2018, the Company anticipates additional costs of approximately $3.2 million, which will be primarily funded from a construction loan.
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| Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
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| Real Estate Properties [Line Items] |
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| Schedule Of Dispositions/Rental Property Held For Sale |
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Realized
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Gains
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Rentable
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Net
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Net
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(losses)/
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Disposition
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# of
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Square
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Sales
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Carrying
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Unrealized
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Date
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Property/Address
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Location
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Bldgs.
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Feet
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Proceeds
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Value
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Losses, net
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02/15/18
|
35 Waterview Boulevard (a)
|
Parsippany, New Jersey
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1
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172,498
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$
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25,994
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$
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25,739
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$
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255
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03/05/18
|
Hamilton portfolio (b)
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Hamilton, New Jersey
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6
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239,262
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17,546
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17,501
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45
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03/07/18
|
Wall portfolio first closing
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Wall, New Jersey
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5
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179,601
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14,053
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10,526
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3,527
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03/22/18
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700 Horizon Drive
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Hamilton, New Jersey
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1
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120,000
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33,020
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16,053
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16,967
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03/23/18
|
Wall portfolio second closing
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Wall, New Jersey
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3
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217,822
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30,209
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12,961
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17,248
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03/28/18
|
75 Livingston Avenue
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Roseland, New Jersey
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1
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94,221
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7,983
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5,609
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2,374
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03/28/18
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20 Waterview Boulevard (c)
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Parsippany, New Jersey
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1
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225,550
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12,475
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11,795
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680
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03/30/18
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Westchester Financial Center (d)
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White Plains, New York
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2
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489,000
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81,769
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64,679
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17,090
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Totals
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20
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1,737,954
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$
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223,049
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$
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164,863
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$
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58,186
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(a) The Company recorded a valuation allowance of $0.7 million on this property during the year ended December 31, 2017.
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(b) The Company recorded a valuation allowance of $0.6 million on these properties during the year ended December 31, 2017. The disposition additionally included two land properties.
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(c) The Company recorded a valuation allowance of $11 million on this property during the year ended December 31, 2017. Prior to closing, the Company provided short term financing through a note receivable
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to an affiliate of the buyers of $2.8 million, which is a noncash component of the net sales proceeds. See Note 5: Deferred charges, goodwill and other assets, net.
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(d) Prior to closing, the Company provided financing through a note receivable to an affiliate of the buyers of $4.0 million, which is a noncash component of the net sales proceeds.
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See Note 5: Deferred Charges, Goodwill and Other Assets, Net.
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| Summary Of Income From Property Held For Sale, Net |
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March 31,
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2018
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Land
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$
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12,428
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Buildings and improvements
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55,809
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Less: Accumulated depreciation
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(29,671)
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Rental property held for sale, net
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$
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38,566
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| Mack-Cali Realty LP [Member] |
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| Real Estate Properties [Line Items] |
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| Schedule Of Properties Which Commenced Initial Operations |
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Total
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In-Service
|
|
|
|
# of
|
|
Development
|
|
|
Date
|
Property
|
Location
|
Type
|
Apartment Units
|
|
Costs
|
|
|
03/01/18
|
145 Front at City Square
|
Worcester, MA
|
Multi-Family
|
365
|
$
|
94,753
|
(a)
|
|
Totals
|
|
|
|
365
|
$
|
94,753
|
|
(a)Development costs as of March 31, 2018 included approximately $4.4 million in land costs. As of March 31, 2018, the Company anticipates additional costs of approximately $3.2 million, which will be primarily funded from a construction loan.
|
| Mack-Cali Realty LP [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
|
| Real Estate Properties [Line Items] |
|
| Schedule Of Dispositions/Rental Property Held For Sale |
|
|
|
|
|
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Realized
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Gains
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Rentable
|
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Net
|
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Net
|
|
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(losses)/
|
|
Disposition
|
|
|
# of
|
|
Square
|
|
|
Sales
|
|
|
Carrying
|
|
|
Unrealized
|
|
Date
|
Property/Address
|
Location
|
Bldgs.
|
|
Feet
|
|
|
Proceeds
|
|
|
Value
|
|
|
Losses, net
|
|
02/15/18
|
35 Waterview Boulevard (a)
|
Parsippany, New Jersey
|
1
|
|
172,498
|
|
$
|
25,994
|
|
$
|
25,739
|
|
$
|
255
|
|
03/05/18
|
Hamilton portfolio (b)
|
Hamilton, New Jersey
|
6
|
|
239,262
|
|
|
17,546
|
|
|
17,501
|
|
|
45
|
|
03/07/18
|
Wall portfolio first closing
|
Wall, New Jersey
|
5
|
|
179,601
|
|
|
14,053
|
|
|
10,526
|
|
|
3,527
|
|
03/22/18
|
700 Horizon Drive
|
Hamilton, New Jersey
|
1
|
|
120,000
|
|
|
33,020
|
|
|
16,053
|
|
|
16,967
|
|
03/23/18
|
Wall portfolio second closing
|
Wall, New Jersey
|
3
|
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217,822
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|
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30,209
|
|
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12,961
|
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|
17,248
|
|
03/28/18
|
75 Livingston Avenue
|
Roseland, New Jersey
|
1
|
|
94,221
|
|
|
7,983
|
|
|
5,609
|
|
|
2,374
|
|
03/28/18
|
20 Waterview Boulevard (c)
|
Parsippany, New Jersey
|
1
|
|
225,550
|
|
|
12,475
|
|
|
11,795
|
|
|
680
|
|
03/30/18
|
Westchester Financial Center (d)
|
White Plains, New York
|
2
|
|
489,000
|
|
|
81,769
|
|
|
64,679
|
|
|
17,090
|
|
Totals
|
|
|
20
|
|
1,737,954
|
|
$
|
223,049
|
|
$
|
164,863
|
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$
|
58,186
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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(a) The Company recorded a valuation allowance of $0.7 million on this property during the year ended December 31, 2017.
|
|
(b) The Company recorded a valuation allowance of $0.6 million on these properties during the year ended December 31, 2017. The disposition additionally included two land properties.
|
|
(c) The Company recorded a valuation allowance of $11 million on this property during the year ended December 31, 2017. Prior to closing, the Company provided short term financing through a note receivable
|
|
to an affiliate of the buyers of $2.8 million, which is a noncash component of the net sales proceeds. See Note 5: Deferred charges, goodwill and other assets, net.
|
|
(d) Prior to closing, the Company provided financing through a note receivable to an affiliate of the buyers of $4.0 million, which is a noncash component of the net sales proceeds.
|
|
See Note 5: Deferred Charges, Goodwill and Other Assets, Net.
|
|
| Summary Of Income From Property Held For Sale, Net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
|
|
|
2018
|
|
Land
|
|
$
|
12,428
|
|
Buildings and improvements
|
|
|
55,809
|
|
Less: Accumulated depreciation
|
|
|
(29,671)
|
|
Rental property held for sale, net
|
|
$
|
38,566
|
|