Recent Transactions (Tables)
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6 Months Ended |
Jun. 30, 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
|
Property
|
Location
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Type
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Apartment Units
|
|
Costs
|
|
|
03/01/18
|
145 Front at City Square
|
Worcester, MA
|
Multi-Family
|
365
|
$
|
98,669
|
(a)
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|
04/01/18
|
Signature Place at Morris Plains
|
Morris Plains, NJ
|
Multi-Family
|
197
|
|
58,210
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(b)
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05/01/18
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Portside 5/6
|
East Boston, MA
|
Multi-Family
|
296
|
|
115,241
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(c)
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Totals
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|
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|
858
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$
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272,120
|
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(a)
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Development costs as of June 30, 2018 included approximately $4.4 million in land costs. As of June 30, 2018, the Company anticipates additional costs of approximately $0.4 million, which will be primarily funded from a construction loan.
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(b)
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Development costs as of June 30, 2018 included approximately $0.9 million in land costs. As of June 30, 2018, the Company anticipates additional costs of approximately $0.1 million, which will be primarily funded from a construction loan.
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(c)
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As of June 30, 2018, the Company anticipates additional costs of approximately $1.9 million, which will be primarily funded from a construction loan.
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| Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
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| Real Estate Properties [Line Items] |
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| Schedule Of Dispositions/Rental Property Held For Sale |
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Realized
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Gains
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Rentable
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Net
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Net
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(losses)/
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Disposition
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# of
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Square
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Sales
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Carrying
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Unrealized
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Date
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Property/Address
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Location
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Bldgs.
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Feet
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Proceeds
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Value
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Losses, net
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02/15/18
|
35 Waterview Boulevard (a)
|
Parsippany, New Jersey
|
1
|
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172,498
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$
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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
|
|
03/05/18
|
Hamilton portfolio (b)
|
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
|
Wall, New Jersey
|
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
|
700 Horizon Drive
|
Hamilton, New Jersey
|
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
|
Wall, New Jersey
|
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
|
Roseland, New Jersey
|
1
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94,221
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7,983
|
|
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5,609
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|
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2,374
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03/28/18
|
20 Waterview Boulevard (c)
|
Parsippany, New Jersey
|
1
|
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225,550
|
|
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12,475
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11,795
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|
|
680
|
|
03/30/18
|
Westchester Financial Center (d)
|
White Plains, New York
|
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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06/27/18
|
65 Jackson Drive
|
Cranford, New Jersey
|
-
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|
-
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1,510
|
(e)
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-
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1,510
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Sub-total
|
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|
20
|
|
1,737,954
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|
|
224,559
|
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|
164,863
|
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59,696
|
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Unrealized losses on rental property held for sale
|
|
|
|
|
|
|
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(500)
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|
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|
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Totals
|
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|
20
|
|
1,737,954
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$
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224,559
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$
|
164,863
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$
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59,196
|
|
|
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|
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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 to an
|
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affiliate of the buyers of $2.8 million. The note was paid off in the second quarter of 2018.
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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. See Note 5: Deferred Charges,
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Goodwill and Other Assets, Net.
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(e) Represents the receipt by the Company in the second quarter 2018 of variable contingent sales consideration, net of costs, of $1.5 million subsequent to disposition of the property, which was sold in January 2017.
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| Summary Of Income From Property Held For Sale, Net |
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June 30,
|
|
|
|
|
2018
|
|
Land
|
|
$
|
13,472
|
|
Buildings and improvements
|
|
|
87,969
|
|
Less: Accumulated depreciation
|
|
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(44,522)
|
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Less: Unrealized losses on properties held for sale
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|
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(500)
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Rental property held for sale, net
|
|
$
|
56,419
|
|
| Mack-Cali Realty LP [Member] |
|
| Real Estate Properties [Line Items] |
|
| Schedule Of Properties Which Commenced Initial Operations |
|
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Total
|
|
|
In-Service
|
|
|
|
# of
|
|
Development
|
|
|
Date
|
Property
|
Location
|
Type
|
Apartment Units
|
|
Costs
|
|
|
03/01/18
|
145 Front at City Square
|
Worcester, MA
|
Multi-Family
|
365
|
$
|
98,669
|
(a)
|
|
04/01/18
|
Signature Place at Morris Plains
|
Morris Plains, NJ
|
Multi-Family
|
197
|
|
58,210
|
(b)
|
|
05/01/18
|
Portside 5/6
|
East Boston, MA
|
Multi-Family
|
296
|
|
115,241
|
(c)
|
|
Totals
|
|
|
|
858
|
$
|
272,120
|
|
|
(a)
|
|
Development costs as of June 30, 2018 included approximately $4.4 million in land costs. As of June 30, 2018, the Company anticipates additional costs of approximately $0.4 million, which will be primarily funded from a construction loan.
|
|
(b)
|
|
Development costs as of June 30, 2018 included approximately $0.9 million in land costs. As of June 30, 2018, the Company anticipates additional costs of approximately $0.1 million, which will be primarily funded from a construction loan.
|
|
(c)
|
|
As of June 30, 2018, the Company anticipates additional costs of approximately $1.9 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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|
|
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|
|
|
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|
Gains
|
|
|
|
|
|
|
Rentable
|
|
|
Net
|
|
|
Net
|
|
|
(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
|
|
217,822
|
|
|
30,209
|
|
|
12,961
|
|
|
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
|
|
06/27/18
|
65 Jackson Drive
|
Cranford, New Jersey
|
-
|
|
-
|
|
|
1,510
|
(e)
|
|
-
|
|
|
1,510
|
|
Sub-total
|
|
|
20
|
|
1,737,954
|
|
|
224,559
|
|
|
164,863
|
|
|
59,696
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized losses on rental property held for sale
|
|
|
|
|
|
|
|
|
|
|
|
(500)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals
|
|
|
20
|
|
1,737,954
|
|
$
|
224,559
|
|
$
|
164,863
|
|
$
|
59,196
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(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. The note was paid off in the second quarter of 2018.
|
|
(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.
|
|
(e) Represents the receipt by the Company in the second quarter 2018 of variable contingent sales consideration, net of costs, of $1.5 million subsequent to disposition of the property, which was sold in January 2017.
|
|
| Summary Of Income From Property Held For Sale, Net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
|
|
|
|
|
2018
|
|
Land
|
|
$
|
13,472
|
|
Buildings and improvements
|
|
|
87,969
|
|
Less: Accumulated depreciation
|
|
|
(44,522)
|
|
Less: Unrealized losses on properties held for sale
|
|
|
(500)
|
|
Rental property held for sale, net
|
|
$
|
56,419
|
|