Quarterly report pursuant to Section 13 or 15(d)

Mortgages, Loans Payable And Other Obligations (Tables)

v3.8.0.1
Mortgages, Loans Payable And Other Obligations (Tables) - Secured Debt [Member]
3 Months Ended
Mar. 31, 2018
Debt Instrument [Line Items]  
Summary Of Mortgages, Loans Payable And Other Obligations



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Effective

 

 

 

March 31,

 

 

December 31,

 

 

 

Property/Project Name

Lender

 

Rate (a)

 

 

 

2018

 

 

2017

 

Maturity

 

Harborside Plaza 5 (b)

The Northwestern Mutual Life Insurance Co.

 

6.84 

%

 

$

 -

 

$

209,257 

 

-

 



& New York Life Insurance Co.

 

 

 

 

 

 

 

 

 

 

 

 

23 Main Street (c)

Berkadia CMBS

 

5.59 

%

 

 

 -

 

 

27,090 

 

-

 

One River Center (d)

Guardian Life Insurance Co.

 

7.31 

%

 

 

 -

 

 

40,485 

 

-

 

Park Square

Wells Fargo Bank N.A.

LIBOR+1.87

%

 

 

26,217 

 

 

26,567 

 

04/10/19

 

250 Johnson (e)

M&T Bank

LIBOR+2.35

%

 

 

37,028 

 

 

32,491 

 

05/20/19

 

Portside 5/6 (f)

Citizens Bank

LIBOR+2.50

%

 

 

56,541 

 

 

45,778 

 

09/29/19

 

Port Imperial 4/5 Hotel (g)

Fifth Third Bank & Santander

LIBOR+4.50

%

 

 

50,958 

 

 

43,674 

 

10/06/19

 

Port Imperial South 11  (h)

JPMorgan Chase

LIBOR+2.35

%

 

 

54,341 

 

 

46,113 

 

11/24/19

 

Worcester (i)

Citizens Bank

LIBOR+2.50

%

 

 

48,099 

 

 

37,821 

 

12/10/19

 

Monaco (j)

The Northwestern Mutual Life Insurance Co.

 

3.15 

%

 

 

169,582 

 

 

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

 

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

 

101 Hudson

Wells Fargo CMBS

 

3.20 

%

 

 

250,000 

 

 

250,000 

 

10/11/26

 

Short Hills Portfolio (k)

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 4/5 Garage

American General Life & A/G PC

 

4.85 

%

 

 

32,600 

 

 

32,600 

 

12/01/29

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Principal balance outstanding

 

 

 

 

 

1,189,614 

 

 

1,426,111 

 

 

 

Unamortized deferred financing costs

 

 

 

 

 

(7,579)

 

 

(7,976)

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Total mortgages, loans payable and other obligations, net

 

 

 

 

$

1,182,035 

 

$

1,418,135 

 

 

 

















 



 

(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 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.

(c)

On March 1, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $0.1 million using borrowings from the Company's unsecured revolving credit facility.

(d)

Mortgage was collateralized by the three properties comprising One River Center. On March 29, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $1.8 million using borrowings from the Company's unsecured revolving credit facility.

(e)

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.

(f)

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.

(g)

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.

(h)

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

(i)

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.

(j)

This mortgage loan, which includes unamortized fair value adjustment of $5.0 million as of March 31, 2018, was assumed by the Company in April 2017 with the consolidation of all the interests in Monaco Towers.

(k)

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



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

Effective

 

 

 

March 31,

 

 

December 31,

 

 

 

Property/Project Name

Lender

 

Rate (a)

 

 

 

2018

 

 

2017

 

Maturity

 

Harborside Plaza 5 (b)

The Northwestern Mutual Life Insurance Co.

 

6.84 

%

 

$

 -

 

$

209,257 

 

-

 



& New York Life Insurance Co.

 

 

 

 

 

 

 

 

 

 

 

 

23 Main Street (c)

Berkadia CMBS

 

5.59 

%

 

 

 -

 

 

27,090 

 

-

 

One River Center (d)

Guardian Life Insurance Co.

 

7.31 

%

 

 

 -

 

 

40,485 

 

-

 

Park Square

Wells Fargo Bank N.A.

LIBOR+1.87

%

 

 

26,217 

 

 

26,567 

 

04/10/19

 

250 Johnson (e)

M&T Bank

LIBOR+2.35

%

 

 

37,028 

 

 

32,491 

 

05/20/19

 

Portside 5/6 (f)

Citizens Bank

LIBOR+2.50

%

 

 

56,541 

 

 

45,778 

 

09/29/19

 

Port Imperial 4/5 Hotel (g)

Fifth Third Bank & Santander

LIBOR+4.50

%

 

 

50,958 

 

 

43,674 

 

10/06/19

 

Port Imperial South 11  (h)

JPMorgan Chase

LIBOR+2.35

%

 

 

54,341 

 

 

46,113 

 

11/24/19

 

Worcester (i)

Citizens Bank

LIBOR+2.50

%

 

 

48,099 

 

 

37,821 

 

12/10/19

 

Monaco (j)

The Northwestern Mutual Life Insurance Co.

 

3.15 

%

 

 

169,582 

 

 

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

 

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

 

101 Hudson

Wells Fargo CMBS

 

3.20 

%

 

 

250,000 

 

 

250,000 

 

10/11/26

 

Short Hills Portfolio (k)

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 4/5 Garage

American General Life & A/G PC

 

4.85 

%

 

 

32,600 

 

 

32,600 

 

12/01/29

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Principal balance outstanding

 

 

 

 

 

1,189,614 

 

 

1,426,111 

 

 

 

Unamortized deferred financing costs

 

 

 

 

 

(7,579)

 

 

(7,976)

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Total mortgages, loans payable and other obligations, net

 

 

 

 

$

1,182,035 

 

$

1,418,135 

 

 

 

















 



 

(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 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.

(c)

On March 1, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $0.1 million using borrowings from the Company's unsecured revolving credit facility.

(d)

Mortgage was collateralized by the three properties comprising One River Center. On March 29, 2018, the Company prepaid this loan in full upon payment of a fee of approximately $1.8 million using borrowings from the Company's unsecured revolving credit facility.

(e)

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.

(f)

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.

(g)

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.

(h)

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

(i)

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.

(j)

This mortgage loan, which includes unamortized fair value adjustment of $5.0 million as of March 31, 2018, was assumed by the Company in April 2017 with the consolidation of all the interests in Monaco Towers.

(k)

This mortgage loan was obtained by the Company in March 2017 to partially fund the acquisition of the Short Hills/Madison portfolio.