JERSEY CITY, N.J., May 6, 2020 /PRNewswire/ — Mack-Cali Realty Corporation (NYSE: CLI) today reported its results for the first quarter 2020.
FIRST QUARTER 2020 HIGHLIGHTS
Reported net income (loss) of $(0.47) per diluted share for the quarter ended March 31, 2020, primarily from mark-to-market valuation adjustments on held-for-sale properties;
Achieved Core Funds from Operations per diluted share of $0.33 for the first quarter 2020;
Roseland’s 6,524-unit multifamily stabilized portfolio was 95.7% leased at March 31, 2020, with an average rent of $3,028 per unit;
Roseland’s same-store portfolio, consisting of 4,838 units, experienced a 9.8% increase in NOI over first quarter 2019. Over the same period, revenues grew 5.6%, and expenses decreased by 1.4%;
Roseland commenced operations at The Emery at Overlook Ridge