Mortgages, Loans Payable And Other Obligations (Tables) - Secured Debt [Member]
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| Debt Instrument [Line Items] |
|
| Summary Of Mortgages, Loans Payable And Other Obligations |
:
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Effective
|
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|
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March 31,
|
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December 31,
|
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|
|
|
Property/Project Name
|
Lender
|
|
Rate (a)
|
|
|
|
2019
|
|
|
2018
|
|
Maturity
|
|
|
Park Square (b)
|
Wells Fargo Bank N.A.
|
|
LIBOR+1.87
|
%
|
|
$
|
-
|
|
$
|
25,167
|
|
04/10/19
|
|
|
250 Johnson (c)
|
M&T Bank
|
|
LIBOR+2.35
|
%
|
|
|
42,000
|
|
|
41,769
|
|
05/20/19
|
|
|
Port Imperial 4/5 Hotel (d)
|
Fifth Third Bank & Santander
|
|
LIBOR+4.50
|
%
|
|
|
76,665
|
|
|
73,350
|
|
10/06/19
|
|
|
Worcester (e)
|
Citizens Bank
|
|
LIBOR+2.50
|
%
|
|
|
57,883
|
|
|
56,892
|
|
12/10/19
|
|
|
Monaco (f)
|
The Northwestern Mutual Life Insurance Co.
|
|
3.15
|
%
|
|
|
167,966
|
|
|
168,370
|
|
02/01/21
|
|
|
Port Imperial South 4/5 Retail
|
American General Life & A/G PC
|
|
4.56
|
%
|
|
|
3,984
|
|
|
4,000
|
|
12/01/21
|
|
|
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
|
|
|
100,000
|
|
02/01/24
|
|
|
The Chase at Overlook Ridge
|
New York Community Bank
|
|
3.74
|
%
|
|
|
135,750
|
|
|
135,750
|
|
01/01/25
|
|
|
Portside 5/6
|
New York Life Insurance Company
|
4.56
|
%
|
|
|
97,000
|
|
|
97,000
|
|
03/10/26
|
|
|
Marbella
|
New York Life Insurance Company
|
|
4.17
|
%
|
|
|
131,000
|
|
|
131,000
|
|
08/10/26
|
|
|
Marbella II (g)
|
New York Life Insurance Company
|
|
4.29
|
%
|
|
|
117,000
|
|
|
-
|
|
08/10/26
|
|
|
101 Hudson
|
Wells Fargo CMBS
|
|
3.20
|
%
|
|
|
250,000
|
|
|
250,000
|
|
10/11/26
|
|
|
Short Hills Portfolio (h)
|
Wells Fargo CMBS
|
|
4.15
|
%
|
|
|
124,500
|
|
|
124,500
|
|
04/01/27
|
|
|
150 Main St.
|
Natixis Real Estate Capital LLC
|
|
4.48
|
%
|
|
|
41,000
|
|
|
41,000
|
|
08/05/27
|
|
|
Port Imperial South 11
|
The Northwestern Mutual Life Insurance Co.
|
|
4.52
|
%
|
|
|
100,000
|
|
|
100,000
|
|
01/10/29
|
|
|
Port Imperial South 4/5 Garage
|
American General Life & A/G PC
|
|
4.85
|
%
|
|
|
32,600
|
|
|
32,600
|
|
12/01/29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal balance outstanding
|
|
|
|
|
|
1,536,346
|
|
|
1,440,396
|
|
|
|
|
Unamortized deferred financing costs
|
|
|
|
|
|
(9,441)
|
|
|
(8,998)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mortgages, loans payable and other obligations, net
|
|
|
|
|
$
|
1,526,905
|
|
$
|
1,431,398
|
|
|
|
|
|
|
|
|
|
|
(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)
|
On January 16, 2019, the loan was repaid using proceeds from the disposition of Park Square.
|
|
(c)
|
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.
|
|
(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)
|
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.
|
|
(f)
|
This mortgage loan, which includes unamortized fair value adjustment of $3.0 million as of March 31, 2019, was assumed by the Company in April 2017 with the consolidation of all the interests in Monaco Towers.
|
|
(g)
|
On January 31, 2019, the Company acquired the majority equity partner's 50 percent interest. Concurrently with the closing, the joint venture repaid in full the property's $74.7 million mortgage loan and obtained a new loan in the amount of $117 million.
|
|
(h)
|
This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.
|
|
| Mack-Cali Realty LP [Member] |
|
| Debt Instrument [Line Items] |
|
| Summary Of Mortgages, Loans Payable And Other Obligations |
:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
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|
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|
Effective
|
|
|
|
March 31,
|
|
|
December 31,
|
|
|
|
|
Property/Project Name
|
Lender
|
|
Rate (a)
|
|
|
|
2019
|
|
|
2018
|
|
Maturity
|
|
|
Park Square (b)
|
Wells Fargo Bank N.A.
|
|
LIBOR+1.87
|
%
|
|
$
|
-
|
|
$
|
25,167
|
|
04/10/19
|
|
|
250 Johnson (c)
|
M&T Bank
|
|
LIBOR+2.35
|
%
|
|
|
42,000
|
|
|
41,769
|
|
05/20/19
|
|
|
Port Imperial 4/5 Hotel (d)
|
Fifth Third Bank & Santander
|
|
LIBOR+4.50
|
%
|
|
|
76,665
|
|
|
73,350
|
|
10/06/19
|
|
|
Worcester (e)
|
Citizens Bank
|
|
LIBOR+2.50
|
%
|
|
|
57,883
|
|
|
56,892
|
|
12/10/19
|
|
|
Monaco (f)
|
The Northwestern Mutual Life Insurance Co.
|
|
3.15
|
%
|
|
|
167,966
|
|
|
168,370
|
|
02/01/21
|
|
|
Port Imperial South 4/5 Retail
|
American General Life & A/G PC
|
|
4.56
|
%
|
|
|
3,984
|
|
|
4,000
|
|
12/01/21
|
|
|
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
|
|
|
100,000
|
|
02/01/24
|
|
|
The Chase at Overlook Ridge
|
New York Community Bank
|
|
3.74
|
%
|
|
|
135,750
|
|
|
135,750
|
|
01/01/25
|
|
|
Portside 5/6
|
New York Life Insurance Company
|
4.56
|
%
|
|
|
97,000
|
|
|
97,000
|
|
03/10/26
|
|
|
Marbella
|
New York Life Insurance Company
|
|
4.17
|
%
|
|
|
131,000
|
|
|
131,000
|
|
08/10/26
|
|
|
Marbella II (g)
|
New York Life Insurance Company
|
|
4.29
|
%
|
|
|
117,000
|
|
|
-
|
|
08/10/26
|
|
|
101 Hudson
|
Wells Fargo CMBS
|
|
3.20
|
%
|
|
|
250,000
|
|
|
250,000
|
|
10/11/26
|
|
|
Short Hills Portfolio (h)
|
Wells Fargo CMBS
|
|
4.15
|
%
|
|
|
124,500
|
|
|
124,500
|
|
04/01/27
|
|
|
150 Main St.
|
Natixis Real Estate Capital LLC
|
|
4.48
|
%
|
|
|
41,000
|
|
|
41,000
|
|
08/05/27
|
|
|
Port Imperial South 11
|
The Northwestern Mutual Life Insurance Co.
|
|
4.52
|
%
|
|
|
100,000
|
|
|
100,000
|
|
01/10/29
|
|
|
Port Imperial South 4/5 Garage
|
American General Life & A/G PC
|
|
4.85
|
%
|
|
|
32,600
|
|
|
32,600
|
|
12/01/29
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Principal balance outstanding
|
|
|
|
|
|
1,536,346
|
|
|
1,440,396
|
|
|
|
|
Unamortized deferred financing costs
|
|
|
|
|
|
(9,441)
|
|
|
(8,998)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total mortgages, loans payable and other obligations, net
|
|
|
|
|
$
|
1,526,905
|
|
$
|
1,431,398
|
|
|
|
|
|
|
|
|
|
|
(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)
|
On January 16, 2019, the loan was repaid using proceeds from the disposition of Park Square.
|
|
(c)
|
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.
|
|
(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)
|
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.
|
|
(f)
|
This mortgage loan, which includes unamortized fair value adjustment of $3.0 million as of March 31, 2019, was assumed by the Company in April 2017 with the consolidation of all the interests in Monaco Towers.
|
|
(g)
|
On January 31, 2019, the Company acquired the majority equity partner's 50 percent interest. Concurrently with the closing, the joint venture repaid in full the property's $74.7 million mortgage loan and obtained a new loan in the amount of $117 million.
|
|
(h)
|
This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.
|
|