Mack-Cali is a self-administered and self-managed REIT that provides management, leasing, development, construction and other tenant-related services for its class A portfolio. The company currently owns or has interests in more than 270 properties, mostly office and office/flex, mostly located in the Northeast. The portfolio totals nearly 29 million sf.
The firm's market performance had run into some problems last year after the company announced it would merge with Texas-based Prentiss Properties. Mack-Cali was the takeover partner in the proposed merger. The merger fell apart, mostly because of shareholder concerns, and Mack-Cali promptly announced that its own properties in several western states were on the market as it sought to focus on its core markets in the Northeast. Since then it has sold several properties in Texas and Nebraska.
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