The locally based REIT also revealed its second-quarterfinancial results during a conference call late last week. For thequarter, FFO available to common shareholders amounted to $55.3million, or 60 cents per share. For the year, FFO was $274.8million, or $3.11 per share. Total revenues for the fourth quarterof 2009 were $194.9 million, up from $193.6 million in Q3. For theyear, the REIT raked in $764.5 million.


Mack-Cali's portfolio was 90.1% leased at the end of thequarter, up from 90% at the end of Q3, but down slightly from a90.6% occupancy at the end of the second quarter. "We are pleasedto end the year with a stabilized occupancy rate of 90.1%," saysMack-Cali president and CEO Mitchell E. Hersh. "This success is atestament to our commitment to the highest levels of service forour tenants in our premier properties. While we anticipate a periodof continued economic uncertainty, we have positioned Mack-Caliwell as the landlord of choice in the regions in which we operateand to be poised to take advantage of opportunities as theyemerge."


To that end, the company refinanced its $150 million securedloan with the Prudential Insurance Co. of America last month. Thenew loan also includes VPCM, LLC, a wholly-owned subsidiary of theVirginia Retirement System, as co-lender. The mortgage loan--whichis collateralized by seven properties--is for a seven-year term andcarries an effective interest rate of 6.25%.

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