"In light of the year's challenging economic climate, we finished 2001 in a sound financial position and continue to maintain solid occupancy levels and a consistent cash flow stream," according to Mack-Cali CEO Mitchell E. Hersh. "With completion of a number of sales of non-core assets, we reinvested the proceeds in opportunities that enhanced our Northeast presence."
In terms of funds from operations (FFO), it amounted to $260.5 million ($3.66 per share) for 2001 after adjustment for straight-lining of rents and non-recurring charges, compared to $262.1 million ($3.59 per share) in 2000. The per-share increase was 1.9%.
And in terms of cash available for distribution (CAD), last year saw totals of $214.7 million and $3.02 per share, compared to $214.3 million and $2.93 per share for the earlier period. The per-share increase for 2001 over 2000 was 3.1%.
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