Current Report Filing (8-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report: October 28, 2015

(Date of earliest event reported)

MACK-CALI REALTY CORPORATION

(Exact name of Registrant as specified in its charter)

Maryland
(State or other jurisdiction of incorporation)

1-13274		22-3305147
(Commission File No.)		(I.R.S. Employer
		Identification No.)

343 Thornall Street, Edison, New Jersey 08837-2206
(Address of Principal Executive Offices) (Zip Code)

(732) 590-1000
(Registrant’s telephone number, including area code)

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On October 28, 2015, Mack-Cali Realty Corporation (the “Company”) issued a press release announcing its financial results for the third quarter 2015. A copy of the press release is attached hereto as Exhibit 99.3.

Item 7.01 Regulation FD Disclosure

For the quarter ended September 30, 2015, the Company hereby makes available supplemental data regarding its operations, as well as supplemental data regarding its multi-family real estate platform. The Company is attaching such supplemental data as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K.

In connection with the foregoing, the Company hereby furnishes the following documents:

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number		Exhibit Title
99.1		Third Quarter 2015 Supplemental Operating and Financial Data.
99.2		Third Quarter 2015 Supplemental Operating and Financial Data for Roseland Residential Platform.
99.3		Third Quarter 2015 earnings press release of Mack-Cali Realty Corporation dated October 28, 2015.

The information included in this Current Report on Form 8-K (including the exhibits hereto) is being furnished under Item 2.02, “Results of Operations and Financial Condition,” Item 7.01, “Regulation FD Disclosure” and Item 9.01 “Financial Statements and Exhibits” of Form 8-K. As such, the information (including the exhibits) herein shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. This Current Report (including the exhibits hereto) will not be deemed an admission as to the materiality of any information required to be disclosed solely to satisfy the requirements of Regulation FD.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MACK-CALI REALTY CORPORATION


Date: October 28, 2015	By:	/s/ MITCHELL E. RUDIN
		Mitchell E. Rudin
		Chief Executive Officer


Date: October 28, 2015	By:	/s/ MICHAEL J. DEMARCO
		Michael J. DeMarco
		President and
		Chief Operating Officer


Date: October 28, 2015	By:	/s/ ANTHONY KRUG
		Anthony Krug
		Chief Financial Officer

EXHIBIT INDEX

Exhibit Number		Exhibit Title
99.1		Third Quarter 2015 Supplemental Operating and Financial Data.
99.2		Third Quarter 2015 Supplemental Operating and Financial Data for Roseland Residential Platform.
99.3		Third Quarter 2015 earnings press release of Mack-Cali Realty Corporation dated October 28, 2015.

Exhibit 99.1

THIRD QUARTER 2015

Supplemental Operating and Financial Data

INDEX

	PAGE(S)

Executive Summary	3 - 5
Earnings Guidance Assumptions	6
Financial Summary / Earnings Metrics	7 - 8
Leasing Statistics	9 - 16
Schedules of Lease Expirations	17 - 24
Financial Information	25 - 27
Summary of Debt / Debt Detail	28 - 29
Unconsolidated Joint Ventures	30 - 32
Portfolio Breakdown	33 - 36
Significant Commercial Tenants	37 - 38
Tenant Size Distribution	39
Market / Industry Diversification	40 - 41
Analysts, Company Information and Executive Officers	42
Disclosure Regarding Forward Looking Statements	43

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Executive Summary

Company Today — September 30, 2015		Company Transformation

·	29.7 million sq. ft of Office - 10 core markets; 5,644 Multi-family units (mostly JVs)	·	Own 20 million sq. ft of Office
·	Office: 85.8 % Leased; Multi-family: 95.7 % Leased	·	Exit non-core office assets wisely
·	Substantial development opportunities for Office/Multi-family	·	Owns 15,000 units (operating or in construction) of luxury apartments
·	FFO per Share guidance for 2016: $2.00 to $2.10	·	Continually improve operating efficiencies
·	Sr. Debt Ratings: BBB-/Baa3; $600 million Credit line-Largely undrawn	·	Attain fortress balance sheet over time

Focus List

·	Now:	Reduce staffing levels, cost of operations and G&A expenses
·	12-18 Month:	Increase occupancy; Extend credit line & refinance debt for savings; Plan dispositions; Reposition assets to “A” quality
·	39 Months:	Capital allocation; Choose correct markets to operate in; Fund & grow Roseland multi-family operations

New Jersey - Targeting the Right Markets

·	Strong markets for future are dictated by inter-modal transportation options (trains, buses, ferries, rails, highways, & airports)
·	Plan to focus on Premier Submarkets: “ Gold Coast” Waterfront, North/Central NJ & Westchester, NY

Waterfront Opportunities

·	Dominant office & multi-family owner on the NJ Hudson River Waterfront
·	Own 4.3 million sq. ft/ Development rights for up to 1.7 million sq. ft. of office/ Pursue office acquisition opportunities
·	3,400 multi-family units operating or under construction, including developing 69-story, 763-Unit URL Harborside 1 tower
·	Ability to develop 5,900 multi-family units in the future

Disposition Plan

·	Increase overall portfolio quality - no rush to sell: Sell out of NYC, DC & Maryland markets
·	Reduce footprint in certain NJ markets/ Sell “B” quality assets across all markets
·	Sell out of slow-growth markets
·	Currently identified 40-plus non-core assets with value of $600 to $800 million — timed in connection with capital needs

Capital Program To Be Funded by Multiple Options

·	(1) Selling non-core assets; (2) Expense savings; (3) Increase cash flow/leasing; & (4) Leverage; (5) Multi-family entity-level equity

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Company Overview

Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its two-platform operations of waterfront and transit-based office and luxury multi-family. Mack-Cali owns or has interests in 274 properties, consisting of 146 office and 109 flex properties totaling approximately 29.7 million square feet and 19 multi-family rental properties containing approximately 5,700 residential units and a pipeline of 11,000 units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.

Mack-Cali’s strategy is to operate two platforms, an office platform built around transit based locations with a high concentration on the New Jersey Waterfront and a luxury multi-family platform ranging from Washington D.C. to Boston also with a high concentration on the New Jersey Waterfront. Both platforms are expected to produce above market returns.

In September 2015, the Company announced a three-year strategic initiative to transform into a more concentrated owner of New Jersey Hudson River waterfront and transit-oriented office properties and a regional owner of luxury multi-family residential properties. In furtherance of this strategy, the Company has commenced a comprehensive review of its portfolio and operations and is developing a business strategy that focuses on reshaping its portfolio over time. As part of this plan, the Company anticipates that it may dispose of a significant portion of its properties that do not meet its long-term goals, and, in September 2015, compiled a list of its properties that it considers as non-core to its ongoing operations. Specifically, the Company considers a non-core property to have one or more of the following attributes: (1) assets that do not offer an opportunity to create a competitive advantage; (2) assets that produce a low cash yield; (3) assets which have physical attributes that constrain their market competitiveness; and (4) assets located in low growth markets. The potential sales of these non-core properties over time would result in total estimated sales proceeds ranging from approximately $600 million to $800 million.

Operating Highlights

Funds from operations (FFO) for the quarter ended September 30, 2015 amounted to $51.5 million, or $0.51 per share, as compared to $48.0 million, or $0.48 per share, for the quarter ended September 30, 2014. For the nine months ended September 30, 2015, FFO equaled $141.1 million, or $1.41 per share, as compared to $128.5 million, or $1.29 per share, for the same period last year. For the current quarter compared to last year, the increase in FFO per share resulted primarily from $0.03 of equity in earnings from refinancing proceeds received from a joint venture; increased net real estate tax appeal proceeds of $0.02; partially offset by $0.02 in increased general and administrative expense due to separation costs in the current quarter. This results in Core FFO per diluted share for the current quarter of $0.48.

Net income (loss) available to common shareholders for the quarter ended September 30, 2015 amounted to $(126.9) million, or $(1.42) per share, as compared to $2.0 million, or $0.02 per share, for the quarter ended September 30, 2014. For the nine months ended September 30, 2015, net income (loss) available to common shareholders equaled $(94.0) million, or $(1.05) per share, as compared to $37.8 million, or $0.43 per share, for the same period last year. Included in net loss for the quarter and nine months ended September 30, 2015 was $164.2 million of impairments charges taken during the third quarter on properties currently held and used which the Company intends to sell as part of its recently-announced strategic initiative. All per share amounts presented above are on a diluted basis.

Mack-Cali’s consolidated commercial in-service portfolio was 85.8 percent leased at September 30, 2015, as compared to 82.3 percent leased at June 30, 2015.

For the quarter ended September 30, 2015, the Company executed 94 leases at its consolidated in-service commercial portfolio totaling 955,570 square feet. Of these totals, 361,000 square feet were for new leases and 594,570 square feet were for lease renewals and other tenant retention transactions. Lease transactions included 345,905 square feet in Core properties, 222,824 square feet in Waterfront properties, 177,820 square feet in Flex properties and 209,021 square feet in Non-Core properties.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Acquisitions

On October 23, 2015, the Company signed an agreement to acquire a 196,000 square-foot office property located in Edison, New Jersey, for approximately $53.1 million, subject to certain conditions. The acquisition is expected to be completed in the fourth quarter of 2015.

The Company is also in discussions to acquire a 147,000 square-foot office building located in Parsippany, New Jersey, as well its partner’s interest in a 371-unit multi-family residential property located in Malden, Massachusetts.

Rental Property Sales/Dispositions

(dollars in thousands)

For the nine months ended September 30, 2015

				Rentable
Sale			# of	Square	Net Sales		Realized		Capitalization
Date	Property/Address	Location	Buildings	Feet	Proceeds		Gain		Rate (a)
01/15/15	1451 Metropolitan Drive	West Deptford, New Jersey	1	21,600	$	1,072	$	144	(4.70	)% (b)
05/27/15	10 Independence Boulevard (c)	Warren, New Jersey	1	120,528	—		3,236
06/11/15	4 Sylvan Way (c)	Parsippany, New Jersey	1	105,135	—		6,439
06/26/15	14 Sylvan Way	Parsippany, New Jersey	1	203,506	79,977		24,724		6.14	%
07/21/15	210 Clay Avenue (c)	Lyndhurst, New Jersey	1	121,203	—		9,564
08/24/15	5 Becker Farm Road (c)	Roseland, New Jersey	1	118,343	—		9,154

Total Property Sales and Dispositions:			6	690,315	$	81,049	$	53,261

(a) Capitalization rate is calculated by dividing the projected net operating income for the 12 months forward from the closing date by the gross sales price.

(b) This property was vacant when sold.

(c) The Company transferred the deed for these properties to the lender in satisfaction of its mortgage loan obligations. The Company had previously recorded impairment charges on these properties totaling $25.2 million during the year ended December 31, 2013.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Earnings Guidance Assumptions

		2015 Revised Guidance
Funds from Operations (FFO) per share		$1.83 to $1.87

		2016 Guidance
Funds from Operations (FFO) per share		$2.00 to $2.10

Metric	Assumption Range ($’s in millions)	Comments
Office Portfolio
Occupancy (% leased) at YE-2016	86.5% - 87.5%
Same Store GAAP NOI	2.5% to 3.5%
Same Store Cash NOI	1.0% to 2.0%
Straight-Line Rent Adjustment	$11.0 to $13.0
Acquisitions	$400.0 to $600.0	During the course of the year, at GAAP yields between 6% and 8%.
Dispositions	$400.0 to $500.0	In the first half of the year, at cap rates between 5% and 5.5%.
Base Building CapEx	$38.0 to $40.0	Includes special common area improvements for Harborside, Paramus, Parsippany and White Plains portfolios, as well as the overall office/multi-family base building cap ex.
Non-Incremental Leasing CapeEx	$60.0 to $65.0

Multi-Family Portfolio
Development (Consolidated)	$110.0 to $130.0	Equity capital required based on estimated total on-balance development spending of $250-270MM in 2016, net of construction loans.
Development (J.V.)	$60.0 to $80.0	The Company's equity investment in unconsolidated joint venture development projects during 2016.
Acquisitions	$20.0	Cash to buy out majority partner's interest in a new, 371 unit, luxury rental community in suburban Boston, net of $72MM acquisition debt, to achieve a levered yield of approximately 14%.

Corporate
G&A (Corporate)	$34.0 to $37.0	Based on staffing levels and incentive compensation.
G&A (Multi-family subsidiary)	$9.0 to $11.0	Based on staffing levels and incentive compensation.
Interest Expense	$96.0 to $100.0	Expect interest savings of $7MM from specific maturing debt ($200MM bonds, $40MM mortgage).
Unsecured Debt Financing	$300.0	Plan to issue an Unsecured Term Loan in December 2015 to refinance the $200MM 5.8% Bond maturing on January 15, 2016, as well as other capital needs during 2016.
Equity Financing	$275.0 - $325.0	Joint venture or entity level equity issuance by the end of 2016.

The guidance and representative assumptions on this page are forward looking statements and reflect our views of current and future market conditions. Our actual results will be affected by known and unknown risks, trends, uncertainties and factors, some of which are beyond our control or ability to predict. Although we believe that the assumptions underlying our guidance are reasonable, they are not guarantees of future performance and some of them will inevitably prove to be incorrect. As a result, our actual future results can be expected to differ from our expectations, and those differences may be material.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Financial Summary

	09/30/15		06/30/15		03/31/15		12/31/14		09/30/14
Shares and Units:
Common Shares Outstanding	89,310,243		89,195,529		89,127,942		89,076,578		89,055,220
Common Units Outstanding	10,790,142		11,012,069		11,036,898		11,083,876		11,092,044
Combined Shares and Units	100,100,385		100,207,598		100,164,840		100,160,454		100,147,264
Weighted Average- Diluted (a)	100,172,220		100,314,310		100,265,509		100,130,039		100,052,290

Common Share Price ($’s):
At the end of the period	18.88		18.43		19.28		19.06		19.11
High during period	21.12		19.73		20.11		20.11		22.05
Low during period	18.01		16.85		18.01		17.92		18.95

Financial Position Ratios
($’s in thousands, except ratios)
Market Value of Equity (b)	1,944,543		1,901,178		1,985,839		1,964,115		1,977,334
Total Debt	2,043,592		2,034,819		2,107,572		2,088,654		2,238,641
Total Market Capitalization	3,988,135		3,935,997		4,093,411		4,052,769		4,215,975

Total Debt/ Total Market Capitalization	51.24	%	51.70	%	51.49	%	51.54	%	53.21	%
Total Debt/ Total Book Capitalization	51.07	%	48.99	%	50.19	%	49.82	%	51.38	%
Total Debt/ Total Undepreciated Assets	37.59	%	36.32	%	37.53	%	37.25	%	39.02	%
Secured Debt/ Total Undepreciated	13.61	%	13.68	%	14.20	%	14.64	%	14.31	%

Capitalized Interest	4,356		3,781		3,607		4,820		4,158

Portfolio Size:
Consolidated Properties	222		227		230		231		232
Consolidated Total Commercial Square Footage	24,015,752		24,837,821		25,266,990		25,288,590		25,363,590
Commercial Sq. Ft. Leased at End of Period (c)	85.8	%	82.3	%	84.3	%	84.2	%	83.7	%

(a) Calculated based on shares and units included in basic per share/unit computation, plus dilutive Common Stock Equivalents (i.e. convertible preferred units, options and warrants).

(b) Includes any outstanding preferred units presented on a converted basis into common units and noncontrolling interests in consolidated joint ventures.

(c) Percentage leased includes leases in effect as of the period end date, some of which have commencement dates in the future and leases that expire at the period end date. Reflects square feet leased at the Company’s consolidated in-service portfolio, excluding in-service properties in lease up (if any).

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Earnings Metrics

	Three Months Ended				Nine Months Ended
	09/30/15		09/30/14		09/30/15		09/30/14
Operational Ratios
($’s in thousands, except ratios and per share amounts)
Net Debt To EBITDA Annualized	7.2		7.3		7.1		7.2
Interest Coverage Ratio	3.09		2.76		2.79		2.50
Fixed Charge Coverage Ratio	2.64		2.34		2.38		2.17
Earnings per Share—diluted	(1.42	)	0.02		(1.05	)	0.43
FFO per Share—diluted (a)	0.51		0.48		1.41		1.29
Dividends Declared per Share	0.15		0.15		0.45		0.60
FFO Payout Ratio—diluted (a)	29.15	%	31.24	%	31.96	%	46.69	%

FFO
Funds from operations available to common shareholders (a)	51,539		48,037		141,140		128,523
Supplemental Information
Non-incremental revenue generating capital expenditures:
Building Improvements	5,631		8,010		20,193		13,263
Tenant Improvements and leasing commissions (b)	7,808		8,885		19,217		33,220
Straight-line rent adjustments (c)	1,419		998		1,336		5,187
Amortization of (above)/below market lease intangibles (d)	127		320		552		902
Acquisition transaction costs (f)	—		—		—		1,943
Net effect of unusual electricity rate spikes (e)	—		—		—		4,845
Executive severance costs (f)	—		—		—		11,044

	Three Months Ended		Nine Months Ended
	09/30/15		09/30/15
Same Store
Same Store NOI GAAP	6.50	%	4.50	%
Same Store NOI Cash	6.50	%	6.20	%

(a)	Funds from operations (“FFO”) is calculated in accordance with the definition of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO” on page 27.
(b)	Excludes expenditures for tenant spaces that have not been owned for at least a year or were vacant for more than a year.
(c)	Includes the Company’s share from unconsolidated joint ventures of $138 and $12 for the three months ended September 30, 2015 and 2014, respectively, and $676 and $12 for the nine months ended September 30, 2015 and 2014, respectively.
(d)	Includes the Company’s share from unconsolidated joint ventures of $95 and $124 for the three months ended September 30, 2015 and 2014, respectively, and $333 and $372 for the nine months ended September 30, 2015 and 2014, respectively.
(e)	Approximately $10 million in utilities expense, net of approximately $5 million in escalations and recoveries from tenants related to such costs.
(f)	Included in general and administrative expense.

Note:	Excluding executive severance costs of $11 million in the first quarter 2014, Interest Coverage, Fixed Charge Coverage and FFO Payout ratios would have been 2.63x, 2.29x and 43.0 percent, respectively, for the nine months ended September 30, 2014.

	Excluding the write-off of the market-to-market balance of $1.5 million related to the transfer of the deeds for 5 Becker Farm Road, Roseland, NJ and 210 Clay Avenue, Lyndhurst, NJ to the lender in the third quarter 2015, Fixed Charged Coverage would have been 2.51x for the three months ended September 30, 2015 and 2.34x for the nine months ended September 30, 2015.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Leasing Statistics

In line with its strategic initiatives, the Company’s consolidated commercial portfolio is broken down, as follows:

(1) “Core” - Long-term hold office properties (excluding Waterfront locations);

(2) “Waterfront” - Office assets located on NJ Hudson River waterfront;

(3) “Flex” - Non-office commercial assets, primarily office/flex properties;

(4) “Non-Core” - Properties designated for eventual sale/disposition or repositioning

Consolidated Commercial Portfolio Summary

(As of September 30, 2015)

		Rentable	Square
	# of	Square	Feet	Percent
Portfolio	Properties	Feet	Leased	Leased

Core	66	9,462,555	8,260,560	87.3	%

Waterfront	6	4,317,978	3,744,230	86.7	%

Flex	103	5,162,813	4,741,991	91.8	%

Non-Core	41	5,072,406	3,854,411	76.0	%

Totals	216	24,015,752	20,601,192	85.8	%

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Leasing Statistics

(For the three months ended September 30, 2015)

Consolidated Commercial In-Service Portfolio

SUMMARY OF SPACE LEASED

				LEASING ACTIVITY								Market
Business Line	Pct. Leased		Leased Sq. Ft.	Expiring/Adjustment		Incoming	Net Leasing		Sq. Ft. Leased	Pct. Leased		Pct. Leased (d)
Market/Submarket	06/30/15		Acquired/Disposed (a)	Sq. Ft. (b)		Sq. Ft.	Activity		09/30/15 (c)	09/30/15		09/30/15
CORE
Northern NJ
Bergen Route 4 East	100.0	%	—	—		—	—		239,680	100.0	%	86.4	%
Bergen Route 17/GSP	80.5	%	—	(24,343	)	62,570	38,227		1,646,308	82.4	%	79.5	%
Essex Route 280	85.7	%	—	—		54,341	54,341		507,993	96.0	%	83.1	%
GW Bridge	94.1	%	—	(62,138	)	54,225	(7,913	)	244,359	91.2	%	87.2	%
Morris Route 10/24	91.2	%	—	(2,815	)	2,815	—		233,838	91.2	%	75.5	%
Parsippany	77.7	%	—	(31,922	)	46,108	14,186		1,586,880	78.4	%	78.4	%
Suburban Passaic	91.8	%	—	(9,891	)	6,856	(3,035	)	48,442	86.4	%	69.2	%
Central NJ
Clark & Cranford	86.4	%	—	(36,554	)	15,194	(21,360	)	665,628	83.7	%	76.9	%
Mercer Southern	93.8	%	—	—		2,229	2,229		268,747	94.6	%	90.1	%
Monmouth County	97.1	%	—	(7,707	)	7,707	—		1,058,572	97.1	%	87.1	%
Princeton	92.0	%	—	—		—	—		316,496	92.0	%	85.7	%
The Brunswicks	100.0	%	—	—		—	—		40,000	100.0	%	83.5	%
Woodbridge/Edison	99.7	%	—	(3,884	)	3,884	—		394,394	99.7	%	85.9	%
Westchester Co., NY
Elmsford	89.3	%	—	(3,000	)	3,000	—		53,569	89.3	%	86.8	%
Hawthorne	94.6	%	—	—		—	—		273,784	94.6	%	93.1	%
White Plains CBD	80.0	%	—	(72,199	)	86,976	14,777		512,444	82.3	%	81.6	%
Yonkers	100.0	%	—	(574	)	—	(574	)	169,426	99.7	%	87.3	%
CORE Totals	86.3	%	—	(255,027	)	345,905	90,878		8,260,560	87.3	%	82.4	%

WATERFRONT
Hudson Waterfront	82.5	%	—	(39,757	)	222,824	183,067		3,744,230	86.7	%	88.0	%
WATERFRONT Totals	82.5	%	—	(39,757	)	222,824	183,067		3,744,230	86.7	%	88.0	%

FLEX
Northern NJ
Hudson Waterfront	52.2	%	—	—		—	—		8,736	52.2	%
Suburban Passaic	92.8	%	—	(16,950	)	9,024	(7,926	)	403,289	91.0	%
Central NJ
Clark & Cranford	68.7	%	—	—		—	—		4,074	68.7	%
Mercer Southern	86.0	%	—	—		—	—		146,219	86.0	%
Monmouth County	93.4	%	—	(42,091	)	50,638	8,547		283,537	96.3	%
Westchester Co., NY
Elmsford	95.7	%	—	(99,892	)	81,857	(18,035	)	1,551,444	94.6	%
Hawthorne	90.6	%	—	(18,620	)	—	(18,620	)	408,531	86.6	%
Yonkers	93.8	%	—	(15,530	)	12,190	(3,340	)	548,132	93.2	%
Burlington Co., NJ	87.6	%	—	(3,128	)	24,111	20,983		1,125,101	89.3	%
Stamford, CT Non-CBD	96.3	%	—	—		—	—		262,928	96.3	%
FLEX Totals	92.2	%	—	(196,211	)	177,820	(18,391	)	4,741,991	91.8	%

Schedules continue on next page.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

					LEASING ACTIVITY								Market
Business Line	Pct. Leased		Leased Sq. Ft.		Expiring/Adjustment		Incoming	Net Leasing		Sq. Ft. Leased	Pct. Leased		Pct. Leased (d)
Market/Submarket	06/30/15		Acquired/Disposed (a)		Sq. Ft. (b)		Sq. Ft.	Activity		09/30/15 (c)	09/30/15		09/30/15
NON-CORE
Northern NJ
Bergen Meadowlands	10.9	%	(2,193	)	(11,000	)	—	(11,000	)	N/A	N/A		N/A
Bergen Route 17S	46.2	%	—		—		—	—		24,009	46.2	%	81.3	%
Bergen Route 17/GSP	22.7	%	—		(2,260	)	2,260	—		166,123	64.4	%	79.5	%
Essex Route 280	68.2	%	(80,385	)	(3,686	)	3,213	(473	)	652,134	68.1	%	83.1	%
Parsippany	73.6	%	—		(4,050	)	8,741	4,691		616,636	79.7	%	78.4	%
Central NJ
Middlesex South/8A	61.5	%	—		(9,831	)	2,014	(7,817	)	199,533	59.2	%	85.5	%
Monmouth County	64.6	%	—		(3,898	)	30,435	26,537		178,861	75.8	%	87.1	%
Somerset Route 78	89.9	%	—		(2,805	)	6,319	3,514		458,313	90.6	%	85.2	%
Union Route 78	72.4	%	—		(18,298	)	—	(18,298	)	39,657	49.6	%	95.1	%
Westchester Co., NY
Elmsford	0.0	%	—		—		—	—		N/A	N/A		N/A
Tarrytown	100.0	%	—		—		—	—		9,300	100.0	%	82.3	%
White Plains CBD	57.6	%	—		—		—	—		26,343	57.6	%	81.6	%
NYC - Downtown	100.0	%	—		—		—	—		524,476	100.0	%	90.4	%
Washington DC/MD
DC - CBD	89.7	%	—		(4,357	)	1,019	(3,338	)	148,674	87.7	%	90.7	%
DC - East End	100.0	%	—		(140,560	)	140,560	—		159,000	100.0	%	87.9	%
MD-Greenbelt	69.0	%	—		(21,707	)	14,460	(7,247	)	574,274	68.2	%	65.6	%
MD-Lanham	63.2	%	—		—		—	—		77,078	63.2	%	64.4	%
NON-CORE Totals	67.0	%	(82,578	)	(222,452	)	209,021	(13,431	)	3,854,411	76.0	%	87.2	%

COMPANY Totals	82.3	%	(82,578	)	(713,447	)	955,570	242,123		20,601,192	85.8	%

RECONCILIATION OF TOTAL PROPERTY SQUARE FOOTAGE

Total sq. ft. as of June 30, 2015	24,837,821
Total sq. ft. of properties disposed of/removed from service	(822,069	)
Total sq. ft. as of September 30, 2015	24,015,752

(a) Net gain/loss of leased square footage through properties sold, acquired or placed in service during the period.

(b) Represents the square footage of expiring leases and leases scheduled to expire in the future for which new leases or renewals were signed during the period, as well as internal administrative adjustments.

(d) Market percent leased derived by inverting the market direct vacancy rate for all office classes as published by Cushman & Wakefield.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Leasing Statistics

(For the three months ended September 30, 2015)

Consolidated Commercial In-Service Portfolio (continued)

DETAIL OF TRANSACTION ACTIVITY

					Sq. Ft.
Business Line	# of	Total		Sq. Ft.	Renewed and	Wtd. Avg.	Wtd. Avg.	Leasing Costs Per
Market/Submarket	Transactions	Sq. Ft.		New Leases	Other Retained (a)	Term (Yrs.)	Base Rent (b)	Sq. Ft. Per Year (c)
CORE
Northern NJ
Bergen Route 17/GSP	10	62,570		8,803	53,767	7.3	26.10	4.86
Essex Route 280 Corridor	1	54,341		54,341	—	10.8	32.37	6.33
GW Bridge	3	54,225		—	54,225	3.0	28.76	1.41
Morris Route 10/24	1	2,815		2,815	—	6.3	26.09	4.54
Parsippany	10	46,108		7,512	38,596	7.1	25.30	3.68
Suburban Passaic	1	6,856		—	6,856	7.0	16.54	1.64
Central NJ
Clark & Cranford	5	15,194		4,042	11,152	5.3	23.28	3.61
Mercer Southern	1	2,229		2,229	—	5.3	20.00	3.73
Monmouth County	1	7,707		—	7,707	4.5	26.22	1.46
Woodbridge/Edison	1	3,884		—	3,884	5.3	28.79	2.68
Westchester Co., NY
Elmsford	1	3,000		—	3,000	5.0	33.10	0.86
White Plains CBD	9	86,976		6,228	80,748	5.1	31.24	8.30
CORE Totals/Weighted Avg.	44	345,905		85,970	259,935	6.4	28.43	5.29

HUDSON WATERFRONT	6	222,824		155,859	66,965	8.9	30.53	7.27

FLEX
Northern NJ
Suburban Passaic	1	9,024		—	9,024	3.0	19.69	0.20
Central NJ
Monmouth County	5	50,638		19,617	31,021	1.7	17.22	1.56
Westchester Co., NY
Elmsford	8	81,857		36,825	45,032	3.4	14.87	1.79
Yonkers	1	12,190		—	12,190	3.0	20.03	1.40
Burlington Co., NJ	4	24,111		19,183	4,928	4.8	12.22	2.67
FLEX Totals/Weighted Avg.	19	177,820		75,625	102,195	3.0	15.78	1.83

NON-CORE
Northern NJ
Bergen Rt 17/GSP	1	2,260		—	2,260	2.2	22.62	0.20
Essex Route 280 Corridor	3	3,213		1,287	1,926	2.2	23.09	2.22
Parsippany	4	8,741		4,132	4,609	4.0	24.17	3.86
Central NJ
Middlesex South/8A	1	2,014		2,014	—	5.2	26.46	6.27
Monmouth County	3	30,435		26,594	3,841	1.8	18.47	2.03
Somerset Route 78	2	6,319		6,319	—	6.4	23.41	3.62
Washington DC/MD
DC - CBD	1	1,019		1,019	—	9.3	46.90	6.90
DC - East End	2	140,560		—	140,560	3.0	38.34	0.20
MD-Greenbelt	8	14,460		2,181	12,279	3.4	23.18	2.99
NON-CORE Totals/Weighted Avg.	25	209,021		43,546	165,475	3.0	32.88	1.22

COMPANY Totals/Weighted Avg.	94	955,570		361,000	594,570	5.6	27.54	5.19

Tenant Retention	Leases Retained	62.5	%
	Sq. Ft. Retained	83.3	%

(a) “Other Retained” transactions include existing tenants’ expansions and relocations within the same building.

(b) Equals triple net rent plus common area costs and real estate taxes, as applicable.

(c) Represents estimated workletter costs of $22,165,091 and commissions of $5,640,284 committed, but not necessarily expended, during the period for second generation space aggregating 955,570 square feet.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Leasing Statistics

(For the nine months ended September 30, 2015)

Consolidated Commercial In-Service Portfolio

SUMMARY OF SPACE LEASED

					LEASING ACTIVITY
													Market
Business Line	Pct. Leased		Leased Sq. Ft.		Expiring/		Incoming	Net Leasing		Sq. Ft. Leased	Pct. Leased		Pct. Leased
Market/Submarket	12/31/14		Acquired/Disposed (a)		Adjustment Sq. Ft. (b)		Sq. Ft.	Activity		09/30/15 (c)	09/30/15		09/30/15
CORE
Northern NJ
Bergen Route 4 East	71.9	%	—		(12,172	)	79,633	67,461		239,680	100.0	%	86.4	%
Bergen Route 17/GSP	80.1	%	—		(284,304	)	330,650	46,346		1,646,308	82.4	%	79.5	%
Essex Route 280	80.5	%	—		(7,203	)	89,270	82,067		507,993	96.0	%	83.1	%
GW Bridge	89.8	%	—		(85,456	)	89,175	3,719		244,359	91.2	%	87.2	%
Morris Route 10/24	91.5	%	—		(21,943	)	20,971	(972	)	233,838	91.2	%	75.5	%
Parsippany	72.4	%	(203,506	)	(141,886	)	319,331	177,445		1,586,880	78.4	%	78.4	%
Suburban Passaic	91.8	%	—		(13,658	)	10,623	(3,035	)	48,442	86.4	%	69.2	%
Central NJ
Clark & Cranford	86.0	%	—		(102,518	)	84,097	(18,421	)	665,628	83.7	%	76.9	%
Mercer Southern	94.6	%	—		(138,125	)	138,125	—		268,747	94.6	%	90.1	%
Monmouth County	97.9	%	—		(20,634	)	12,011	(8,623	)	1,058,572	97.1	%	87.1	%
Princeton	93.2	%	—		(26,661	)	22,439	(4,222	)	316,496	92.0	%	85.7	%
The Brunswicks	100.0	%	—		—		—	—		40,000	100.0	%	83.5	%
Woodbridge/Edison	98.9	%	—		(13,248	)	16,322	3,074		394,394	99.7	%	85.9	%
Westchester Co., NY
Elmsford	91.7	%	—		(4,645	)	3,195	(1,450	)	53,569	89.3	%	86.8	%
Hawthorne	91.8	%	—		(31,572	)	39,656	8,084		273,784	94.6	%	93.1	%
White Plains CBD	81.4	%	—		(121,685	)	127,644	5,959		512,444	82.3	%	81.6	%
Yonkers	100.0	%	—		(27,165	)	26,591	(574	)	169,426	99.7	%	87.3	%
CORE Totals	83.9	%	(203,506	)	(1,052,875	)	1,409,733	356,858		8,260,560	87.3	%	82.4	%

WATERFRONT
Hudson Waterfront	82.1	%	—		(130,465	)	328,034	197,569		3,744,230	86.7	%	88.0	%
WATERFRONT Total	82.1	%	—		(130,465	)	328,034	197,569		3,744,230	86.7	%	88.0	%

FLEX
Northern NJ
Hudson Waterfront	52.2	%	—		—		—	—		8,736	52.2	%
Suburban Passaic	95.9	%	—		(34,272	)	12,523	(21,749	)	403,289	91.0	%
Central NJ
Clark & Cranford	68.7	%	—		—		—	—		4,074	68.7	%
Mercer Southern	79.3	%	—		(16,302	)	27,680	11,378		146,219	86.0	%
Monmouth County	93.4	%	—		(75,734	)	84,281	8,547		283,537	96.3	%
Westchester Co., NY
Elmsford	95.7	%	—		(289,855	)	271,885	(17,970	)	1,551,444	94.6	%
Hawthorne	86.7	%	—		(44,915	)	44,561	(354	)	408,531	86.6	%
Yonkers	92.6	%	—		(56,098	)	59,437	3,339		548,132	93.2	%
Burlington Co., NJ	86.0	%	(21,600	)	(155,383	)	198,979	43,596		1,125,101	89.3	%
Stamford, CT Non-CBD	96.3	%	—		(95,000	)	95,000	—		262,928	96.3	%
FLEX Totals	91.4	%	(21,600	)	(767,559	)	794,346	26,787		4,741,991	91.8	%

Schedules continue on next page.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

					LEASING ACTIVITY
													Market
Business Line	Pct. Leased		Leased Sq. Ft.		Expiring/		Incoming	Net Leasing		Sq. Ft. Leased	Pct. Leased		Pct. Leased (d)
Market/Submarket	12/31/14		Acquired/Disposed (a)		Adjustment Sq. Ft. (b)		Sq. Ft.	Activity		09/30/15 (c)	09/30/15		09/30/15
NON-CORE
Northern NJ
Bergen Meadowlands	82.4	%	(2,193	)	(99,846	)	2,193	(97,653	)	N/A	N/A		N/A
Bergen Route 17S	99.6	%	—		(27,766	)	—	(27,766	)	24,009	46.2	%	81.3	%
Bergen Route 17/GSP	91.0	%	—		(504,861	)	3,841	(501,020	)	166,123	64.4	%	79.5	%
Essex Route 280	67.9	%	(80,385	)	(111,545	)	114,314	2,769		652,134	68.1	%	83.1	%
Parsippany	75.0	%	(105,135	)	(31,499	)	51,179	19,680		616,636	79.7	%	78.4	%
Central NJ
Middlesex South/8A	94.9	%	—		(130,191	)	10,009	(120,182	)	199,533	59.2	%	85.5	%
Monmouth County	64.6	%	—		(43,989	)	70,526	26,537		178,861	75.8	%	87.1	%
Somerset Route 78	89.7	%	(111,663	)	(2,805	)	10,711	7,906		458,313	90.6	%	85.2	%
Union Route 78	77.1	%	—		(22,021	)	—	(22,021	)	39,657	49.6	%	95.1	%
Westchester Co., NY
Elmsford	0.0	%	—		—		—	—		N/A	N/A		N/A
Tarrytown	0.0	%	—		—		9,300	9,300		9,300	100.0	%	82.3	%
White Plains CBD	66.9	%	—		(4,245	)	—	(4,245	)	26,343	57.6	%	81.6	%
NYC - Downtown	100.0	%	—		—		—	—		524,476	100.0	%	90.4	%
Washington DC/MD
DC - CBD	89.1	%	—		(5,089	)	2,652	(2,437	)	148,674	87.7	%	90.7	%
DC - East End	100.0	%	—		(140,560	)	140,560	—		159,000	100.0	%	87.9	%
MD-Greenbelt	68.6	%	—		(131,303	)	127,909	(3,394	)	574,274	68.2	%	65.6	%
MD-Lanham	97.4	%	—		(58,033	)	16,282	(41,751	)	77,078	63.2	%	64.4	%
NON-CORE Totals	80.2	%	(299,376	)	(1,313,753	)	559,476	(754,277	)	3,854,411	76.0	%	87.2	%

COMPANY Totals	84.2	%	(524,482	)	(3,264,652	)	3,091,589	(173,063	)	20,601,192	85.8	%

RECONCILIATION OF TOTAL PROPERTY SQUARE FOOTAGE


Total sq. ft. as of December 31, 2014	25,288,590
Total sq. ft. of properties disposed of/removed from service	(1,272,838	)
Total sq. ft. as of September 30, 2015	24,015,752

(a) Net gain/loss of leased square footage through properties sold, acquired or placed in service during the period.

(d) Market percent leased derived by inverting the market direct vacancy rate for all office classes as published by Cushman & Wakefield.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

DETAIL OF TRANSACTION ACTIVITY

Business Line	# of	Total	Sq. Ft.	Sq. Ft. Renewed and	Wtd. Avg.	Wtd. Avg.	Leasing Costs Per
Market/Submarket	Transactions	Sq. Ft.	New Leases	Other Retained (a)	Term (Yrs.)	Base Rent (b)	Sq. Ft. Per Year (c)
CORE
Northern NJ
Bergen Route 4 East	2	79,633	73,978	5,655	10.6	23.20	4.33
Bergen Route 17/GSP	37	330,650	31,314	299,336	5.0	25.88	4.46
Essex Route 280 Corridor	3	89,270	89,270	—	10.1	32.85	6.27
GW Bridge	15	89,175	6,210	82,965	3.3	27.59	1.93
Morris Route 10/24	5	20,971	2,815	18,156	4.5	22.42	3.72
Parsippany	30	319,331	174,300	145,031	8.5	24.56	5.08
Suburban Passaic	3	10,623	—	10,623	6.0	17.83	1.50
Central NJ
Clark & Cranford	20	84,097	28,307	55,790	4.7	22.87	2.71
Mercer Southern	3	138,125	2,229	135,896	5.0	31.52	3.22
Monmouth County	2	12,011	—	12,011	5.9	26.10	3.47
Princeton	10	22,439	4,528	17,911	4.2	28.00	3.36
Woodbridge/Edison	3	16,322	—	16,322	4.7	28.81	3.19
Westchester Co., NY
Elmsford	2	3,195	—	3,195	4.9	32.73	0.84
Hawthorne	4	39,656	—	39,656	3.9	25.85	3.24
White Plains CBD	25	127,644	6,228	121,416	4.5	30.51	7.17
Yonkers	5	26,591	—	26,591	2.9	22.02	0.41
CORE Totals/Weighted Avg.	169	1,409,733	419,179	990,554	6.2	26.67	4.62

WATERFRONT
Hudson Waterfront	18	328,034	168,414	159,620	7.8	31.97	6.57
WATERFRONT Total	18	328,034	168,414	159,620	7.8	31.97	6.57

FLEX
Northern NJ
Suburban Passaic	2	12,523	—	12,523	2.7	18.70	0.20
Central NJ
Mercer Southern	3	27,680	—	27,680	7.2	16.95	2.84
Monmouth County	8	84,281	19,617	64,664	1.8	17.20	1.23
Westchester Co., NY
Elmsford	31	271,885	79,201	192,684	4.7	14.74	1.27
Hawthorne	5	44,561	23,221	21,340	6.2	15.38	2.56
Yonkers	11	59,437	—	59,437	4.2	17.45	2.11
Burlington Co., NJ	18	198,979	38,526	160,453	3.6	10.88	1.57
Stamford Non-CBD	2	95,000	—	95,000	1.9	29.81	2.80
FLEX Totals/Weighted Avg.	80	794,346	160,565	633,781	3.9	16.21	1.70

Schedules/Footnotes continue on next page.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Business Line	# of	Total		Sq. Ft.	Sq. Ft. Renewed and	Wtd. Avg.	Wtd. Avg.	Leasing Costs Per
Market/Submarket	Transactions	Sq. Ft.		New Leases	Other Retained (a)	Term (Yrs.)	Base Rent (b)	Sq. Ft. Per Year (c)
NON-CORE
Northern NJ
Bergen Meadowlands	1	2,193		—	2,193	1.0	23.92	0.20
Bergen Rt 17/GSP	2	3,841		—	3,841	1.7	23.07	0.51
Essex Route 280 Corridor	14	114,314		8,575	105,739	1.7	24.88	2.34
Parsippany	15	51,179		20,725	30,454	3.8	22.73	4.13
Central NJ
Middlesex South/8A	5	10,009		7,158	2,851	4.2	25.09	4.69
Monmouth County	7	70,526		33,064	37,462	2.0	21.20	1.60
Somerset Route 78	3	10,711		10,711	—	5.9	24.01	4.69
Westchester Co., NY
Tarrytown	1	9,300		9,300	—	15.4	35.99	2.20
Washington DC/MD
DC - CBD	2	2,652		2,652	—	9.9	45.70	6.54
DC - East End	2	140,560		—	140,560	3.0	38.34	0.20
MD-Greenbelt	35	127,909		11,890	116,019	3.2	23.99	2.29
MD-Lanham	1	16,282		—	16,282	5.4	19.52	2.86
NON-CORE Totals/Weighted Avg.	88	559,476		104,075	455,401	3.1	27.49	2.16

COMPANY Totals/Weighted Avg.	355	3,091,589		852,233	2,239,356	5.2	24.69	4.10

Tenant Retention	Leases Retained	71.7	%
	Sq. Ft. Retained	68.6	%

(a) “Other Retained” transactions include existing tenants’ expansions and relocations within the same building.

(b) Equals triple net rent plus common area costs and real estate taxes, as applicable.

(c) Represents estimated workletter costs of $49,089,460 and commissions of $17,004,010 committed, but not necessarily expended, during the period for second generation space aggregating 3,091,589 square feet.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Schedule of Lease Expirations

All Consolidated Commercial Properties

The following table sets forth a schedule of lease expirations for the total of the Company’s office, office/flex, industrial/warehouse and stand-alone retail properties included in the Consolidated Commercial Properties beginning October 1, 2015, assuming that none of the tenants exercise renewal or termination options (with a breakdown by market for 2015 through 2017 only):

			Percentage of Total		Average Annualized Base
		Net Rentable Area	Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring	Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)	Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

4th Quarter, 2015	42	200,570	1.0	3,809,362	18.99	0.7

1st Quarter, 2016	70	390,617	2.0	8,007,995	20.50	1.6
2nd Quarter, 2016	62	379,105	1.9	8,682,706	22.90	1.8
3rd Quarter, 2016	67	484,550	2.4	11,377,324	23.48	2.4
4th Quarter, 2016	81	470,100	2.3	10,433,542	22.19	2.2
TOTAL — 2016	280	1,724,372	8.6	38,501,567	22.33	8.0

2015 (c)
Northern NJ	16	58,580	0.3	1,277,450	21.81	0.3
Central NJ	10	70,246	0.4	1,540,573	21.93	0.3
Westchester Co., NY	7	10,480	0.1	186,981	17.84	(d)
Manhattan	1	6,488	(d)	188,152	29.00	(d)
Sub. Philadelphia	1	6,667	(d)	40,002	6.00	(d)
Fairfield, CT	—	—	—	—	—	—
Washington, DC/MD	7	48,109	0.2	576,204	11.98	0.1
TOTAL — 2015	42	200,570	1.0	3,809,362	18.99	0.7

2016
Northern NJ	97	621,752	3.1	15,944,942	25.65	3.3
Central NJ	69	511,574	2.5	11,499,020	22.48	2.4
Westchester Co., NY	69	320,819	1.6	6,213,965	19.37	1.3
Manhattan	—	—	—	—	—	—
Sub. Philadelphia	11	94,773	0.5	676,307	7.14	0.1
Fairfield, CT	3	36,649	0.2	499,303	13.62	0.1
Washington, DC/MD	31	138,805	0.7	3,668,030	26.43	0.8
TOTAL — 2016	280	1,724,372	8.6	38,501,567	22.33	8.0

2017
Northern NJ	120	1,952,898	9.7	56,907,412	29.14	11.9
Central NJ	74	1,055,453	5.3	20,293,407	19.23	4.3
Westchester Co., NY	69	342,882	1.7	7,245,601	21.13	1.5
Manhattan	1	14,863	(d)	505,342	34.00	(d)
Sub. Philadelphia	18	191,206	1.0	1,488,260	7.78	0.3
Fairfield, CT	2	102,928	0.5	1,484,988	14.43	0.3
Washington, DC/MD	23	104,335	0.5	3,099,441	29.71	0.6
TOTAL — 2017	307	3,764,565	18.7	91,024,451	24.18	18.9

Schedule continued, with footnotes, on subsequent page.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

			Percentage of Total		Average Annualized Base
		Net Rentable Area	Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring	Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)	Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2018	289	2,869,953	14.3	66,504,859	23.17	13.8

2019	242	2,422,265	12.0	51,877,769	21.42	10.8

2020	210	1,676,361	8.3	36,692,415	21.89	7.6

2021	142	1,487,487	7.4	38,316,401	25.76	8.0

2022	105	1,105,186	5.5	27,219,579	24.63	5.7

2023	65	1,164,729	5.8	30,150,599	25.89	6.3

2024	59	1,085,291	5.4	27,145,435	25.01	5.6

2025	32	638,337	3.2	14,474,954	22.68	3.0

2026 and thereafter	61	1,976,428	9.8	55,956,394	28.31	11.6
Totals/Weighted Average	1,834	20,115,544	100.0	481,673,785	23.95	100.0

(a) Includes office, office/flex, industrial/warehouse and stand-alone retail property tenants only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

(b) Annualized base rental revenue is based on actual September 2015 billings times 12. For leases whose rent commences after October 1, 2015 annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above.

(c) Includes leases expiring September 30, 2015 aggregating 64,226 square feet and representing annualized rent of $1,036,321 for which no new leases were signed.

(d) Represents 0.05% or less.

(e) Reconciliation to Company’s total net rentable square footage is as follows:

		Square Feet
Square footage leased to commercial tenants		20,115,544
Square footage used for corporate offices, management offices, building use, retail tenants, food services, other ancillary service tenants and occupancy adjustments		485,648
Square footage unleased		3,414,560
Total net rentable square footage (does not include land leases)		24,015,752

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

All Consolidated Properties

The following table sets forth a schedule of lease expirations for all consolidated properties beginning October 1, 2015, assuming that none of the tenants exercise renewal or termination options:

			Percentage of Total		Average Annualized Base
		Net Rentable Area	Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring	Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)	Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2015 (c)
Core	22	83,971	0.4	2,279,387	27.14	0.4
Flex	10	57,617	0.3	662,874	11.50	0.1
Non-Core	10	58,982	0.3	867,101	14.70	0.2
TOTAL — 2015	42	200,570	1.0	3,809,362	18.99	0.7

2016
Core	130	792,814	3.9	20,015,960	25.25	4.1
Waterfront	8	51,709	0.3	1,849,660	35.77	0.4
Flex	71	479,489	2.4	6,515,603	13.59	1.4
Non-Core	71	400,360	2.0	10,120,344	25.28	2.1
TOTAL — 2016	280	1,724,372	8.6	38,501,567	22.33	8.0

2017
Core	124	1,292,712	6.4	28,421,755	21.99	5.9
Waterfront	27	1,118,638	5.6	35,746,547	31.96	7.4
Flex	80	663,315	3.3	9,022,112	13.60	1.9
Non-Core	76	689,900	3.4	17,834,037	25.85	3.7
TOTAL — 2017	307	3,764,565	18.7	91,024,451	24.18	18.9

2018
Core	114	788,081	3.9	20,918,657	26.54	4.3
Waterfront	12	457,848	2.3	15,436,725	33.72	3.2
Flex	93	1,055,584	5.3	13,375,022	12.67	2.8
Non-Core	70	568,440	2.8	16,774,455	29.51	3.5
TOTAL — 2018	289	2,869,953	14.3	66,504,859	23.17	13.8

2019
Core	110	1,151,352	5.7	29,433,586	25.56	6.1
Waterfront	12	83,433	0.4	2,925,469	35.06	0.6
Flex	65	860,840	4.3	11,951,762	13.88	2.5
Non-Core	55	326,640	1.6	7,566,952	23.17	1.6
TOTAL — 2019	242	2,422,265	12.0	51,877,769	21.42	10.8

2020
Core	108	909,657	4.4	21,822,673	23.99	4.5
Waterfront	8	70,779	0.4	2,478,369	35.02	0.5
Flex	49	421,576	2.1	5,687,063	13.49	1.2
Non-Core	45	274,349	1.4	6,704,310	24.44	1.4
TOTAL — 2020	210	1,676,361	8.3	36,692,415	21.89	7.6

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

			Percentage of Total		Average Annualized Base
		Net Rentable Area	Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring	Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)	Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2021
Core	60	568,206	2.8	15,090,939	26.56	3.2
Waterfront	14	356,904	1.8	11,683,934	32.74	2.4
Flex	27	265,530	1.3	3,823,953	14.40	0.8
Non-Core	41	296,847	1.5	7,717,575	26.00	1.6
TOTAL — 2021	142	1,487,487	7.4	38,316,401	25.76	8.0

2022
Core	52	478,260	2.3	12,794,207	26.75	2.7
Waterfront	11	251,791	1.3	7,319,219	29.07	1.5
Flex	21	182,422	0.9	2,517,807	13.80	0.5
Non-Core	21	192,713	1.0	4,588,346	23.81	1.0
TOTAL — 2022	105	1,105,186	5.5	27,219,579	24.63	5.7

2023
Core	27	400,604	2.0	11,934,606	29.79	2.5
Waterfront	8	325,544	1.6	10,057,848	30.90	2.1
Flex	14	234,006	1.2	3,209,008	13.71	0.7
Non-Core	16	204,575	1.0	4,949,137	24.19	1.0
TOTAL — 2023	65	1,164,729	5.8	30,150,599	25.89	6.3

2024
Core	33	601,761	3.0	14,846,096	24.67	3.1
Waterfront	6	166,111	0.8	5,852,227	35.23	1.2
Flex	9	175,196	0.9	2,466,309	14.08	0.5
Non-Core	11	142,223	0.7	3,980,803	27.99	0.8
TOTAL — 2024	59	1,085,291	5.4	27,145,435	25.01	5.6

2025
Core	12	238,245	1.2	6,581,401	27.62	1.4
Waterfront	3	84,013	0.4	2,713,494	32.30	0.6
Flex	12	204,851	1.0	2,619,906	12.79	0.5
Non-Core	5	111,228	0.6	2,560,153	23.02	0.5
TOTAL — 2025	32	638,337	3.2	14,474,954	22.68	3.0

2026 and thereafter
Core	19	705,286	3.5	16,525,457	23.43	3.4
Waterfront	20	644,789	3.2	20,352,478	31.56	4.2
Flex	8	86,914	0.4	1,347,762	15.51	0.3
Non-Core	14	539,439	2.7	17,730,697	32.87	3.7
TOTAL — 2026 and thereafter	61	1,976,428	9.8	55,956,394	28.31	11.6

Totals/Weighted Average	1,834	20,115,544	100.0	481,673,785	23.95	100.0

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Core Properties

The following table sets forth a schedule of lease expirations for the core properties beginning October 1, 2015, assuming that none of the tenants exercise renewal or termination options:

				Percentage of Total		Average Annualized Base
		Net Rentable Area		Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring		Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)		Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2015	22	83,971		1.0	2,279,387	27.14	1.1

2016	130	792,814		9.9	20,015,960	25.25	10.0

2017	124	1,292,712		16.1	28,421,755	21.99	14.2

2018	114	788,081		9.8	20,918,657	26.54	10.4

2019	110	1,151,352		14.4	29,433,586	25.56	14.7

2020	108	909,657		11.4	21,822,673	23.99	10.9

2021	60	568,206		7.1	15,090,939	26.56	7.5

2022	52	478,260		6.0	12,794,207	26.75	6.4

2023	27	400,604		5.0	11,934,606	29.79	5.9

2024	33	601,761		7.5	14,846,096	24.67	7.4

2025	12	238,245		3.0	6,581,401	27.62	3.3

2026 and thereafter	19	705,286		8.8	16,525,457	23.43	8.2
Totals/Weighted Average	811	8,010,949	(c)	100.0	200,664,724	25.05	100.0

(a) Includes tenants of core properties only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

(b) Annualized base rental revenue is based on actual September 2015 billings times 12. For leases whose rent commences after October 1, 2015, annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above. Includes office/flex tenants only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

(c) Includes leases expiring September 30, 2015 aggregating 11,571 square feet and representing annualized rent of $325,701 for which no new leases were signed.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Waterfront Properties

The following table sets forth a schedule of lease expirations for the waterfront properties beginning October 1, 2015, assuming that none of the tenants exercise renewal or termination options.

			Percentage of Total		Average Annualized Base
		Net Rentable Area	Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring	Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)	Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2015	—	—	—	—	—	—

2016	8	51,709	1.3	1,849,660	35.77	1.7

2017	27	1,118,638	31.0	35,746,547	31.96	30.7

2018	12	457,848	12.7	15,436,725	33.72	13.3

2019	12	83,433	2.3	2,925,469	35.06	2.5

2020	8	70,779	2.0	2,478,369	35.02	2.1

2021	14	356,904	9.9	11,683,934	32.74	10.0

2022	11	251,791	7.0	7,319,219	29.07	6.3

2023	8	325,544	9.0	10,057,848	30.90	8.6

2024	6	166,111	4.6	5,852,227	35.23	5.0

2025	3	84,013	2.3	2,713,494	32.30	2.3

2026 and thereafter	20	644,789	17.9	20,352,478	31.56	17.5
Totals/Weighted Average	129	3,611,559	100.0	116,415,970	32.23	100.0

(a) Includes tenants of waterfront properties only. Excludes leases for amenity, retail, parking and month-to-month industrial/warehouse tenants. Some tenants have multiple leases.

(b) Annualized base rental revenue is based on actual September 2015 billings times 12. For leases whose rent commences after October 1, 2015, annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, the historical results may differ from those set forth above.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Flex Properties

The following table sets forth a schedule of lease expirations for the flex properties beginning October 1, 2015, assuming that none of the tenants exercise renewal or termination options:

				Percentage of Total		Average Annualized Base
		Net Rentable Area		Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring		Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)		Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2015	10	57,617		1.1	662,874	11.50	1.0

2016	71	479,489		10.2	6,515,603	13.59	10.2

2017	80	663,315		14.2	9,022,112	13.60	14.3

2018	93	1,055,584		22.5	13,375,022	12.67	21.2

2019	65	860,840		18.4	11,951,762	13.88	18.9

2020	49	421,576		9.0	5,687,063	13.49	9.0

2021	27	265,530		5.7	3,823,953	14.40	6.1

2022	21	182,422		3.9	2,517,807	13.80	4.0

2023	14	234,006		5.0	3,209,008	13.71	5.1

2024	9	175,196		3.7	2,466,309	14.08	3.9

2025	12	204,851		4.4	2,619,906	12.79	4.2

2026 and thereafter	8	86,914		1.9	1,347,762	15.51	2.1
Totals/Weighted Average	459	4,687,340	(c)	100.0	63,199,181	13.48	100.0

(a) Includes tenants of flex properties only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

(c) Includes leases expiring September 30, 2015 aggregating 953 square feet and representing annualized rent of $17,154 for which no new leases were signed.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Non-Core Properties

The following table sets forth a schedule of lease expirations for the non-core properties beginning October 1, 2015, assuming that none of the tenants exercise renewal or termination options:

				Percentage of Total		Average Annualized Base
		Net Rentable Area		Leased Square Feet	Annualized Base	Rent Per Net Rentable	Percentage of Annual
Year of	Number of	Subject to Expiring		Represented by	Rental Revenue Under	Square Foot Represented	Base Rent Under
Expiration/Market	Leases Expiring (a)	Leases (Sq. Ft.)		Expiring Leases (%)	Expiring Leases ($) (b)	by Expiring Leases ($)	Expiring Leases (%)

2015	10	58,982		1.6	867,101	14.70	0.9

2016	71	400,360		10.5	10,120,344	25.28	10.0

2017	76	689,900		18.1	17,834,037	25.85	17.6

2018	70	568,440		14.9	16,774,455	29.51	16.5

2019	55	326,640		8.6	7,566,952	23.17	7.5

2020	45	274,349		7.2	6,704,310	24.44	6.6

2021	41	296,847		7.8	7,717,575	26.00	7.6

2022	21	192,713		5.1	4,588,346	23.81	4.5

2023	16	204,575		5.4	4,949,137	24.19	4.9

2024	11	142,223		3.7	3,980,803	27.99	3.9

2025	5	111,228		2.9	2,560,153	23.02	2.5

2026 and thereafter	14	539,439		14.2	17,730,697	32.87	17.5
Totals/Weighted Average	435	3,805,696	(c)	100.0	101,393,910	26.64	100.0

(a) Includes tenants of non-core properties only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

(c) Includes leases expiring September 30, 2015 aggregating 51,702 square feet and representing annualized rent of $693,466 for which no new leases were signed.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

FINANCIAL INFORMATION

Mack-Cali Realty Corporation and Subsidiaries

Consolidated Statements of Operations

(in thousands, except per share amounts) (unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
REVENUES
Base rents	$	119,707		$	125,793		$	364,746		$	393,054
Escalations and recoveries from tenants	15,050			19,172			49,291			61,736
Real estate services	7,510			7,622			22,555			21,323
Parking income	2,749			2,255			8,141			6,605
Other income	1,142			647			3,707			2,667
Total revenues	146,158			155,489			448,440			485,385

EXPENSES
Real estate taxes	19,143			22,154			63,005			69,880
Utilities	13,172			15,701			44,146			58,555
Operating services	24,535			26,519			78,607			83,581
Real estate services expenses	6,673			6,933			19,520			20,213
General and administrative	13,670			12,665			36,669			49,219
Depreciation and amortization	44,099			41,983			127,266			131,679
Impairments	164,176			—			164,176			—
Total expenses	285,468			125,955			533,389			413,127
Operating income (loss)	(139,310		)	29,534			(84,949		)	72,258

OTHER (EXPENSE) INCOME
Interest expense	(24,689		)	(27,353		)	(78,677		)	(85,458		)
Interest and other investment income	5			908			563			2,216
Equity in earnings (loss) of unconsolidated joint ventures	3,135			(1,268		)	(2,723		)	(2,060		)
Realized gains (losses) on disposition of rental property, net	18,718			264			53,261			54,848
Gain on sale of investment in unconsolidated joint ventures	—			—			6,448			—
Total other (expense) income	(2,831		)	(27,449		)	(21,128		)	(30,454		)
Net income (loss)	(142,141		)	2,085			(106,077		)	41,804
Noncontrolling interest in consolidated joint ventures	(281		)	145			582			757
Noncontrolling interest in Operating Partnership	15,530			(248		)	11,461			(4,754		)
Net income (loss) available to common shareholders	$	(126,892	)	$	1,982		$	(94,034	)	$	37,807

Basic earnings per common share:
Net income (loss) available to common shareholders	$	(1.42	)	$	0.02		$	(1.05	)	$	0.43

Diluted earnings per common share:
Net income (loss) available to common shareholders	$	(1.42	)	$	0.02		$	(1.05	)	$	0.43

Basic weighted average shares outstanding	89,249			88,875			89,229			88,621

Diluted weighted average shares outstanding	100,172			100,052			100,236			100,014

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Mack-Cali Realty Corporation and Subsidiaries

Consolidated Balance Sheets

(in thousands, except per share amounts)(unaudited)

	September 30,			December 31,
	2015			2014
Assets
Rental property
Land and leasehold interests	$	706,122		$	760,855
Buildings and improvements	3,619,200			3,753,300
Tenant improvements	398,812			431,969
Furniture, fixtures and equipment	13,582			12,055
	4,737,716			4,958,179
Less — accumulated depreciation and amortization	(1,434,603		)	(1,414,305		)

Net investment in rental property	3,303,113			3,543,874
Cash and cash equivalents	30,866			29,549
Investments in unconsolidated joint ventures	299,486			247,468
Unbilled rents receivable, net	118,466			123,885
Deferred charges, goodwill and other assets, net	200,723			204,650
Restricted cash	40,068			34,245
Accounts receivable, net of allowance for doubtful accounts of $1,579 and $2,584	9,180			8,576

Total assets	$	4,001,902		$	4,192,247

Liabilities and Equity
Senior unsecured notes	$	1,268,568		$	1,267,744
Revolving credit facility	35,000			—
Mortgages, loans payable and other obligations	740,024			820,910
Dividends and distributions payable	15,582			15,528
Accounts payable, accrued expenses and other liabilities	136,673			126,971
Rents received in advance and security deposits	47,645			52,146
Accrued interest payable	27,413			26,937
Total liabilities	2,270,905			2,310,236
Commitments and contingencies

Equity:
Mack-Cali Realty Corporation stockholders’ equity:
Common stock, $0.01 par value, 190,000,000 shares authorized, 89,310,243 and 89,076,578 shares outstanding	893			891
Additional paid-in capital	2,565,143			2,560,183
Dividends in excess of net earnings	(1,070,456		)	(936,293		)
Total Mack-Cali Realty Corporation stockholders’ equity	1,495,580			1,624,781

Noncontrolling interests in subsidiaries:
Operating Partnership	180,691			202,173
Consolidated joint ventures	54,726			55,057
Total noncontrolling interests in subsidiaries	235,417			257,230

Total equity	1,730,997			1,882,011

Total liabilities and equity	$	4,001,902		$	4,192,247

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Mack-Cali Realty Corporation and Subsidiaries

Statements of Funds from Operations

(in thousands, except per share/unit amounts) (unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Net income (loss) available to common shareholders	$	(126,892	)	$	1,982		$	(94,034	)	$	37,807
Add (deduct): Noncontrolling interest in Operating Partnership	(15,530		)	248			(11,461		)	4,754
Real estate-related depreciation and amortization on continuing operations (a)	48,503			46,071			142,168			140,810
Impairments	164,176			—			164,176			—
Deduct: Realized (gains) losses and unrealized losses on disposition of rental property, net	(18,718		)	(264		)	(53,261		)	(54,848		)
Gain on sale of investment in unconsolidated joint ventures	—			—			(6,448		)	—
Funds from operations available to common shareholders (b)	$	51,539		$	48,037		$	141,140		$	128,523

Diluted weighted average shares/units outstanding (c)	100,172			100,052			100,236			100,014

Funds from operations per share/unit-diluted	$	0.51		$	0.48		$	1.41		$	1.29

Dividends declared per common share	$	0.15		$	0.15		$	0.45		$	0.60

(a)	Includes the Company’s share from unconsolidated joint ventures of $4,845 and $4,181 for the three months ended September 30, 2015 and 2014, respectively, and $15,828 and $9,396 for the nine months ended September 30, 2015 and 2014, respectively. Excludes non-real estate-related depreciation and amortization of $238 and $93 for the three months ended September 30, 2015 and 2014, respectively, and $723 and $265 for the nine months ended September 30, 2015 and 2014, respectively.
(b)	Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO” below.
(c)	Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,923 and 11,120 shares for the three months ended September 30, 2015 and 2014, respectively, and 11,008 and 11,334 for the nine months ended September 30, 2015 and 2014, respectively), plus dilutive Common Stock Equivalents (i.e. stock options).

Statements of Funds from Operations Per Diluted Share

(amounts are per diluted share, except share count in thousands) (unaudited)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2015			2014		2015			2014
Net income (loss) available to common shareholders	$	(1.42	)	$	0.02	$	(1.05	)	$	0.43
Add: Impairments	1.64			—		1.64			—
Real estate-related depreciation and amortization on continuing operations (a)	0.48			0.46		1.42			1.41
Deduct: Realized (gains) losses and unrealized losses on disposition of rental property, net	(0.19		)	—		(0.53		)	(0.55		)
Gain on sale of investment in unconsolidated joint ventures	—			—		(0.06		)	—
Noncontrolling interest/rounding adjustment	—			—		(0.01		)	—
Funds from operations (b)	$	0.51		$	0.48	$	1.41		$	1.29

Add: Net effect of unusual electricity rate spikes	$	—		$	—	$	—		$	0.05
Executives severance costs	—			—		—			0.11
Noncontrolling interests/rounding adjustment	—			—		—			(0.01		)
FFO excluding certain items	$	0.51		$	0.48	$	1.41		$	1.44

(a)	Includes the Company’s share from unconsolidated joint ventures of $0.05 and $0.04 for the three months ended September 30, 2015 and 2014, respectively, and $0.16 and $0.09 for the nine months ended September 30, 2015 and 2014, respectively.
(b)	Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO” below.
(c)	Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,293 and 11,120 shares for the three months ended September 30, 2015 and 2014, respectively, and 11,008 and 11,334 for the nine months ended September 30, 2015 and 2014, respectively), plus dilutive Common Stock Equivalents (i.e. stock options).

Information About FFO

Funds from operations (“FFO”) is defined as net income (loss) before noncontrolling interest of unitholders, computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains (or losses) from extraordinary items, sales of depreciable rental property, and impairments related to depreciable rental property, plus real estate-related depreciation and amortization. The Company believes that FFO per share is helpful to investors as one of several measures of the performance of an equity REIT. The Company further believes that as FFO per share excludes the effect of depreciation, gains (or losses) from sales of properties and impairments related to depreciable rental property (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO per share can facilitate comparison of operating performance between equity REITs.

FFO per share should not be considered as an alternative to net income available to common shareholders per share as an indication of the Company’s performance or to cash flows as a measure of liquidity. FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. However, the Company’s FFO per share is comparable to the FFO per share of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts (“NAREIT”). A reconciliation of net income per share to FFO per share is included in the financial tables above.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Summary of Debt

(as of September 30, 2015)

Debt Breakdown

(dollars in thousands)


			%		Weighted Average		Weighted Average
	Balance		of Total		Interest Rate (a)		Maturity in Years
Fixed Rate Unsecured Debt and Other Obligations	$	1,268,568	62.08	%	4.88	%	4.41
Fixed Rate Secured Debt	597,185		29.22	%	7.13	%	2.78
Variable Rate Secured Debt	142,839		6.99	%	3.87	%	1.25
Variable Rate Unsecured Debt	35,000		1.71	%	1.51	%	1.83

Totals/Weighted Average:	$	2,043,592	100.00	%	5.41	%(b)	3.67

(a) The actual weighted average LIBOR rate for the Company’s outstanding variable rate debt was 0.20 percent as of September 30, 2015, plus the applicable spread.

(b) Excludes amortized deferred financing costs pertaining to the Company’s unsecured revolving credit facility which amounted to $0.8 million and $2.4 million for the three and nine months ended September 30, 2015.

Future Repayments

(dollars in thousands)

									Weighted Average
	Scheduled			Principal					Interest Rate of
Period	Amortization			Maturities		Total			Future Repayments (a)
October 1 - December 31, 2015	$	2,054		$	113,615	$	115,669		6.82	%
2016	8,125			304,433		312,558			6.38	%
2017 (b)	7,275			432,719		439,994			3.88	%
2018	7,311			231,536		238,847			6.67	%
2019	723			331,566		332,289			7.44	%
Thereafter	6,328			605,206		611,534			4.13	%
Sub-total	31,816			2,019,075		2,050,891
Adjustment for unamortized debt discount/premium and mark-to-market, net, as of September 30, 2015	(7,299		)	—		(7,299		)

Totals/Weighted Average:	$	24,517		$	2,019,075	$	2,043,592		5.41	%(c)

(a) The actual weighted average LIBOR rate for the Company’s outstanding variable rate debt was 0.20 percent as of September 30, 2015, plus the applicable spread.

(b) Includes outstanding borrowings of the Company’s unsecured revolving credit facility of $35 million which matures in 2017 with two six-month extension options with the payment of a fee.

(c) Excludes amortized deferred financing costs pertaining to the Company’s unsecured revolving credit facility which amounted to $0.8 million and $2.4 million for the three and nine months ended September 30, 2015.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Debt Detail

(dollars in thousands)

		Effective		September 30,		December 31,			Date of
Property Name	Lender	Interest Rate		2015		2014			Maturity
Senior Unsecured Notes: (a)
5.800%, Senior Unsecured Notes	public debt	5.806%		$	200,029	$	200,086		01/15/16
2.500%, Senior Unsecured Notes	public debt	2.803%		249,372		249,150			12/15/17
7.750%, Senior Unsecured Notes	public debt	8.017%		249,173		249,013			08/15/19
4.500%, Senior Unsecured Notes	public debt	4.612%		299,609		299,565			04/18/22
3.150%, Senior Unsecured Notes	public debt	3.517%		270,385		269,930			05/15/23
Total Senior Unsecured Notes:				$	1,268,568	$	1,267,744

Revolving Credit Facilities:
Unsecured Facility (b)	17 Lenders	LIBOR+1.300%		$	35,000	—			07/31/17
Total Revolving Credit Facilities:				$	35,000	—

Property Mortgages: (c)
Overlook Ridge-Sites III D, III C, III A (d)	Wells Fargo Bank N.A.	LIBOR+3.50%		—		$	17,260		—
Overlook Ridge-Site II B (Quarrystone I) (d)	Wells Fargo Bank N.A.	LIBOR+2.50%		—		5,787			—
10 Independence (e)	Wells Fargo CMBS	10.260%		—		16,924			—
4 Sylvan (f)	Wells Fargo CMBS	10.260%		—		14,575			—
210 Clay (g)	Wells Fargo CMBS	18.100%		—		13,330			—
5 Becker (h)	Wells Fargo CMBS	19.450%		—		13,867			—
6 Becker, 85 Livingston, 75 Livingston & 20 Waterview (i)	Wells Fargo CMBS	10.260%		$	65,035	65,035			08/11/14	(j)
9200 Edmonston Road	Principal Commercial Funding, L.L.C.	5.534%		3,809		3,951			05/01/15	(k)
Port Imperial South	Wells Fargo Bank N.A.	LIBOR+1.75%		44,771		44,119			11/18/15
4 Becker	Wells Fargo CMBS	9.550%		39,914		39,421			05/11/16
Curtis Center (l)	CCRE & PREFG	LIBOR+5.912%	(o)	64,000		64,000			10/09/16
Various (m)	Prudential Insurance	6.332%		144,037		145,557			01/15/17
150 Main Street	Webster Bank	LIBOR+2.35%		6,568		1,193		(q)	03/30/17
23 Main Street	JPMorgan CMBS	5.587%		28,713		29,210			09/01/18
Harborside Plaza 5	The Northwestern Mutual Life Insurance Co. & New York Life Insurance Co.	6.842%		218,717		221,563			11/01/18
100 Walnut Avenue	Guardian Life Ins. Co.	7.311%		18,342		18,542			02/01/19
One River Center (n)	Guardian Life Ins. Co.	7.311%		42,018		42,476			02/01/19
Park Square	Wells Fargo Bank N.A.	LIBOR+1.872%	(p)	27,500		27,500			04/10/19
Port Imperial South 4/5 Retail	American General Life & A/G PC	4.559%		4,000		4,000			12/01/21
Port Imperial South 4/5 Garage	American General Life & A/G PC	4.853%		32,600		32,600			12/01/29
Total Mortgages, Loans Payable and Other Obligations:				$	740,024	$	820,910

Total Debt:				$	2,043,592	$	2,088,654

(a)	Includes the cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable.
(b)	Total borrowing capacity under the facility is $600 million, is expandable to $1 billion and matures in July 2017. It has two six-month extension options each requiring the payment of a 7.5 basis point fee. The interest rate on outstanding borrowings (not electing the Company’s competitive bid feature) and the facility fee on the current borrowing capacity payable quarterly in arrears are based upon the Operating Partnership’s unsecured debt ratings.
(c)	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.
(d)	On March 27, 2015, the Company repaid these loans at par, using borrowings on the Company’s unsecured revolving credit facility.
(e)	On May 27, 2015, the Company transferred the deed for 10 Independence Boulevard to the lender in satisfaction of its obligation.
(f)	On June 11, 2015, the Company transferred the deed for 4 Sylvan Way to the lender in satisfaction of its obligation.
(g)	On July 21, 2015, the Company transferred the deed for 210 Clay to the lender in satisfaction of its obligation.
(h)	On August 24, 2015, the Company transferred the deed for 5 Becker to the lender in satisfaction of its obligation.
(i)	Mortgage is cross collateralized by the four properties.
(j)	The loan was not repaid at maturity and the Company has begun discussions with the lender regarding potential options in satisfaction of the obligation.
(k)	Excess cash flow, as defined, is being held by the lender for re-leasing costs. The deed for the property was placed in escrow and is available to the lender in the event of default or non-payment at maturity. The mortgage loan was not repaid at maturity on May 1, 2015. The Company is in discussions with the lender regarding a further extension of the loan.
(l)	The Company owns a 50 percent tenants-in-common interest in the Curtis Center Property. The Company’s $64.0 million loan consists of its 50 percent interest in a $102 million senior loan with a current rate of 3.501 percent at September 30, 2015 and its 50 percent interest in a $26 million mezzanine loan (with a maximum borrowing capacity of $48 million) with a current rate of 9.707 percent at September 30, 2015. The senior loan rate is based on a floating rate of one-month LIBOR plus 329 basis points and the mezzanine loan rate is based on a floating rate of one-month LIBOR plus 950 basis points. The Company has entered into LIBOR caps for the periods of the loans. The loans provide for three one-year extension options.
(m)	Mortgage is cross collateralized by seven properties. The Company has agreed, subject to certain conditions, to guarantee repayment of $61.1 million of the loan.
(n)	Mortgage is collateralized by the three properties comprising One River Center.
(o)	The effective interest rate includes amortization of deferred financing costs of 1.362 percent.
(p)	The effective interest rate includes amortization of deferred financing costs of 0.122 percent.
(q)	This construction loan has a maximum borrowing capacity of $28.8 million.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Unconsolidated Joint Ventures

The following is a summary of the financial position of the unconsolidated joint ventures in which the Company had investment interests as of September 30, 2015 and December 31, 2014, respectively: (dollars in thousands)

	September 30,		December 31,
	2015		2014
Assets:
Rental property, net	$	1,602,899	$	1,534,812
Other assets	460,762		398,222
Total assets	$	2,063,661	$	1,933,034
Liabilities and partners’/ members’ capital:
Mortgages and loans payable	$	1,246,582	$	1,060,020
Other liabilities	228,045		211,340
Partners’/members’ capital	589,034		661,674
Total liabilities and partners’/members’ capital	$	2,063,661	$	1,933,034

The following is a summary of the Company’s investment in unconsolidated joint ventures as of September 30, 2015 and December 31, 2014, respectively: (dollars in thousands)

	September 30,		December 31,
Entity/Property Name	2015		2014
Multi-family
Marbella RoseGarden, L.L.C./ Marbella (c)	$	15,686	$	15,779
RoseGarden Monaco Holdings, L.L.C./ Monaco (c)	1,237		2,161
Rosewood Lafayette Holdings, L.L.C./ Highlands at Morristown Station (e)	—		62
PruRose Port Imperial South 15, LLC /RiversEdge at Port Imperial (c)	—		—
Rosewood Morristown, L.L.C. / Metropolitan at 40 Park (c)	5,810		6,029
Overlook Ridge JV 2C/3B, L.L.C./The Chase at Overlook Ridge (c)	2,261		2,524
PruRose Riverwalk G, L.L.C./ RiverTrace at Port Imperial (c)	274		955
Elmajo Urban Renewal Associates, LLC / Lincoln Harbor (Bldg A&C) (c)	—		—
Crystal House Apartments Investors LLC / Crystal House	27,716		27,051
Portside Master Company, L.L.C./ Portside at Pier One - Bldg 7 (c)	—		1,747
PruRose Port Imperial South 13, LLC / RiverParc at Port Imperial (c)	—		1,087
Roseland/Port Imperial Partners, L.P./ Riverwalk C (c)	1,678		1,800
RoseGarden Marbella South, L.L.C./ Marbella II	15,946		11,282
Estuary Urban Renewal Unit B, LLC / Lincoln Harbor (Bldg B) (c)	—		—
Riverpark at Harrison I, L.L.C./ Riverpark at Harrison	2,575		4,744
Capitol Place Mezz LLC / Station Townhouses	47,156		49,327
Harborside Unit A Urban Renewal, L.L.C. / URL Harborside	95,978		34,954
RoseGarden Monaco, L.L.C./ San Remo Land	1,325		1,283
Grand Jersey Waterfront URA, L.L.C./ Liberty Landing	337		337
Office
Red Bank Corporate Plaza, L.L.C./ Red Bank	4,073		3,963
12 Vreeland Associates, L.L.C./ 12 Vreeland Road	5,730		5,620
BNES Associates III / Offices at Crystal Lake	2,126		1,993
Hillsborough 206 Holdings, L.L.C./ Hillsborough 206	1,962		1,962
KPG-P 100 IMW JV, LLC / 100 Independence Mall West	—		—
Keystone-Penn (c)	—		—
Keystone-TriState (c) (d)	4,376		6,140
KPG-MCG Curtis JV, L.L.C./ Curtis Center (a)	56,441		59,911
Other
Plaza VIII & IX Associates, L.L.C./ Vacant land (parking operations)	3,969		4,022
Roseland/North Retail, L.L.C./ Riverwalk at Port Imperial (c)	1,776		1,828
South Pier at Harborside / Hyatt Regency Jersey City on the Hudson (b)	—		—
Other	1,054		907
Company’s investment in unconsolidated joint ventures	$	299,486	$	247,468

(a) Includes undivided interests in the same manner as investments in noncontrolled partnerships, pursuant to ASC 810.

(b) The negative investment balance for this joint venture of $1,419 and $1,854 as of September 30, 2015 and December 31, 2014, respectively, were included in accounts payable, accrued expenses and other liabilities.

(c) The Company’s ownership interests in this venture are subordinate to its partner’s preferred capital balance and the Company is not expected to meaningfully participate in the venture’s cash flows in the near term.

(d) Includes Company’s pari-passu interests in five properties.

(e) Company’s interests in the unconsolidated joint ventures were sold during the quarter ended September 30, 2015.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

The following is a summary of the results of operations of the unconsolidated joint ventures for the period in which the Company had investment interests for the three and nine months ended September 30, 2015 and 2014, respectively: (dollars in thousands)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Total revenues	$	82,586		$	80,711		$	238,138		$	224,822
Operating and other expenses	(55,969		)	(58,684		)	(169,278		)	(173,642		)
Depreciation and amortization	(16,823		)	(15,134		)	(51,632		)	(31,715		)
Interest expense	(14,622		)	(11,296		)	(39,280		)	(26,423		)
Net loss	$	(4,828	)	$	(4,403	)	$	(22,052	)	$	(6,958	)

The following is a summary of the Company’s equity in earnings (loss) of unconsolidated joint ventures for the three and nine months ended September 30, 2015 and 2014, respectively: (dollars in thousands)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Entity/Property Name	2015			2014			2015			2014
Multi-family
Marbella RoseGarden, L.L.C./ Marbella (a)	$	64		$	3		$	186		$	(13	)
RoseGarden Monaco Holdings, L.L.C./ Monaco (a)	(295		)	(249		)	(924		)	(764		)
Rosewood Lafayette Holdings, L.L.C./ Highlands at Morristown Station (a)	—			(221		)	(62		)	(639		)
PruRose Port Imperial South 15, LLC /RiversEdge at Port Imperial (a)	—			—			—			—
Rosewood Morristown, L.L.C. / Metropolitan at 40 Park (a)	(93		)	(90		)	(277		)	(264		)
Overlook Ridge JV 2C/3B, L.L.C./The Chase at Overlook Ridge (a)	(16		)	(217		)	(263		)	(155		)
PruRose Riverwalk G, L.L.C./ RiverTrace at Port Imperial (a)	(151		)	(615		)	(681		)	(1,766		)
Elmajo Urban Renewal Associates, LLC / Lincoln Harbor (Bldg A&C) (a)	—			—			—			(203		)
Crystal House Apartments Investors LLC / Crystal House	(44		)	68			(41		)	(206		)
Portside Master Company, L.L.C./ Portside at Pier One - Bldg 7 (a)	(379		)	(228		)	(1,736		)	(661		)
PruRose Port Imperial South 13, LLC / RiverParc Port Imperial (a)	(257		)	(220		)	(988		)	(638		)
Roseland/Port Imperial Partners, L.P./ Riverwalk C (a)	(85		)	(173		)	(394		)	(518		)
RoseGarden Marbella South, L.L.C./ Marbella II	—			—			—			—
Estuary Urban Renewal Unit B, LLC / Lincoln Harbor (Bldg B) (a)	—			—			—			(15		)
Riverpark at Harrison I, L.L.C./ Riverpark at Harrison	(54		)	—			(377		)	—
Capitol Place Mezz LLC / Station Townhouses	(1,454		)	—			(2,642		)	—
Harborside Unit A Urban Renewal, L.L.C. / URL Harborside	—			—			—			(212		)
RoseGarden Monaco, L.L.C./ San Remo Land	—			—			—			—
Grand Jersey Waterfront URA, L.L.C./ Liberty Landing	(12		)	—			(32		)	(54		)
Office
Red Bank Corporate Plaza, L.L.C./ Red Bank	110			101			332			306
12 Vreeland Associates, L.L.C./ 12 Vreeland Road	38			22			110			165
BNES Associates III / Offices at Crystal Lake	13			127			133			273
Hillsborough 206 Holdings, L.L.C./ Hillsborough 206	—			—			(5		)	(5		)
KPG-P 100 IMW JV, LLC / 100 Independence Mall West	(37		)	(412		)	(800		)	(1,548		)
Keystone-Penn (a)	3,663			—			3,663			—
Keystone-TriState (a)	(173		)	(733		)	(1,763		)	(733		)
KPG-MCG Curtis JV, L.L.C./ Curtis Center	327			113			755			364
Other
Plaza VIII & IX Associates, L.L.C./ Vacant land (parking operations)	102			74			258			220
Roseland/North Retail, L.L.C./ Riverwalk at Port Imperial (a)	(17		)	(34		)	(52		)	(81		)
South Pier at Harborside / Hyatt Regency Jersey City on the Hudson	1,151			583			1,934			1,874
Stamford SM LLC / Senior Mezzanine Loan	—			493			—			2,337
Other	734			340			943			876
Company’s equity in earnings (loss) of unconsolidated joint ventures	$	3,135		$	(1,268	)	$	(2,723	)	$	(2,060	)

(a) The Company’s ownership interests in this venture are subordinate to its partner’s preferred capital balance and the Company is not expected to meaningfully participate in the venture’s cash flows in the near term.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

The following is a summary of the Company’s funds from operations of unconsolidated joint ventures for the three and nine months ended September 30, 2015 and 2014, respectively: (dollars in thousands)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Entity/Property Name	2015			2014			2015			2014
Multi-family
Marbella RoseGarden, L.L.C./ Marbella (a)	$	327		$	255		$	961		$	734
RoseGarden Monaco Holdings, L.L.C./ Monaco (a)	19			(16		)	15			(65		)
Rosewood Lafayette Holdings, L.L.C./ Highlands at Morristown Station (a)	—			4			6			34
PruRose Port Imperial South 15, LLC /RiversEdge at Port Imperial (a)	—			—			—			—
Rosewood Morristown, L.L.C. / Metropolitan at 40 Park (a)	2			4			6			17
Overlook Ridge JV, L.L.C./ Quarrystone at Overlook Ridge (a)	—			—			—			—
Overlook Ridge JV 2C/3B, L.L.C./The Chase at Overlook Ridge (a)	315			(49		)	755			50
PruRose Riverwalk G, L.L.C./ RiverTrace at Port Imperial (a)	78			(355		)	4			(1,150		)
Elmajo Urban Renewal Associates, LLC / Lincoln Harbor (Bldg A&C) (a)	118			—			237			(167		)
Crystal House Apartments Investors LLC / Crystal House	249			361			838			673
Portside Master Company, L.L.C./ Portside at Pier One - Bldg 7 (a)	(125		)	(228		)	(970		)	(661		)
PruRose Port Imperial South 13, LLC / RiverParc Port Imperial (a)	(257		)	(220		)	(875		)	(638		)
Roseland/Port Imperial Partners, L.P./ Riverwalk C (a)	(85		)	(173		)	(394		)	(518		)
RoseGarden Marbella South, L.L.C./ Marbella II	—			—			—			—
Estuary Urban Renewal Unit B, LLC / Lincoln Harbor (Bldg B) (a)	33			—			34			(15		)
Riverpark at Harrison I, L.L.C./ Riverpark at Harrison	43			—			(98		)	—
Capitol Place Mezz LLC / Station Townhouses	(761		)	—			(1,255		)	—
Harborside Unit A Urban Renewal, L.L.C. / URL Harborside	—			—			—			(212		)
RoseGarden Monaco, L.L.C./ San Remo Land	—			—			—			—
Grand Jersey Waterfront URA, L.L.C./ Liberty Landing	(12		)	—			(32		)	(54		)
Office
Red Bank Corporate Plaza, L.L.C./ Red Bank	227			217			681			655
12 Vreeland Associates, L.L.C./ 12 Vreeland Road	104			106			309			417
BNES Associates III / Offices at Crystal Lake	51			151			219			420
Hillsborough 206 Holdings, L.L.C./ Hillsborough 206	—			—			(5		)	(5		)
KPG-P 100 IMW JV, LLC / 100 Independence Mall West	(123		)	(239		)	(522		)	(969		)
Keystone-Penn (a)	3,663			—			3,663			—
Keystone-TriState (a)	121			(605		)	505			(605		)
KPG-MCG Curtis JV, L.L.C./ Curtis Center	1,246			1,448			3,565			1,813
Other
Plaza VIII & IX Associates, L.L.C./ Vacant land (parking operations)	108			80			275			237
Roseland/North Retail, L.L.C./ Riverwalk at Port Imperial (a)	4			(13		)	11			(19		)
South Pier at Harborside / Hyatt Regency Jersey City on the Hudson	1,901			1,352			4,229			4,150
Stamford SM LLC / Senior Mezzanine Loan	—			493			—			2,338
Other	734			340			943			876
Company’s funds from operations of unconsolidated joint ventures	$	7,980		$	2,913		$	13,105		$	7,336

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Portfolio Breakdown

(dollars in thousands)

As of September 30, 2015

		# of	Commercial	Garage
	# of	Apartment	Square	Parking
Property	Properties	Homes	Feet	Spaces
MULTI-FAMILY RENTAL PORTFOLIO
Stabilized Operating Communities:
Consolidated Properties	6	1,301
Unconsolidated Joint Venture Interests:
Participating JVs	1	798
Subordinated Interests	8	2,570
Total Stabilized Operating Communities-included in Property Count:	15	4,669

Communities in Lease-Up:
Unconsolidated Joint Venture Interests:
Participating JVs	2	519
Subordinated Interests	2	456
Total Properties in Lease-Up-Multi-Family-included in Property Count:	4	975

Development Communities:
Consolidated Properties	3	637		786
Unconsolidated Joint Venture Interests:
Participating JVs	3	1,438
Subordinated Interests	—	—
Total Development Communities-Multi-Family:	6	2,075		786

Total Land Holdings/Pre-Development and Repurposing-Multi-Family:	n/a	10,901

OFFICE PORTFOLIO
Stabilized Operating Properties:
Consolidated Properties	216		24,015,752	850
Unconsolidated Joint Venture Interests:
Participating JVs (incl. 350-room hotel)	8		1,645,306
Subordinated Joint Ventures	31		4,033,049
Total Operating Properties-included in Property Count:	255		29,694,107	850

Total Land Holdings/Pre-Development-Office	—		5,348,750

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Consolidated Operating Portfolio Analysis (a)

(as of September 30, 2015)

Breakdown by Number of Properties

PROPERTY TYPE:

										Stand-
		% of			% of		Industrial/	% of		Alone	% of		Land	% of		Multi-	% of		Totals	% of
STATE	Office	Total		Office/Flex	Total		Warehouse	Total		Retail	Total		Leases	Total		Family	Total		By State	Total
New Jersey	87	39.2	%	48	21.6	%	—	—		1	0.5	%	—	—		3	1.3	%	139	62.6	%
New York	13	5.8	%	41	18.5	%	6	2.7	%	2	0.9	%	2	0.9	%	—	—		64	28.8	%
Connecticut	—	—		5	2.2	%	—	—		—	—		—	—		—	—		5	2.2	%
Wash., D.C./Maryland	10	4.5	%	—	—		—	—		—	—		1	0.5	%	—	—		11	5.0	%
Massachusetts	—	—		—	—		—	—		—	—		—	—		3	1.4	%	3	1.4	%
TOTALS By Type:	110	49.5	%	94	42.3	%	6	2.7	%	3	1.4	%	3	1.4	%	6	2.7	%	222	100.0	%

(a) Excludes 52 operating properties, aggregating approximately 5.7 million of commercial square feet and 4,343 apartment homes, which are not consolidated by the Company.

Breakdown by Square Footage for Commercial Properties

PROPERTY TYPE:

										Stand-
		% of			% of		Industrial/	% of		Alone	% of		Totals	% of
STATE	Office	Total		Office/Flex	Total		Warehouse	Total		Retail	Total		By State	Total
New Jersey	15,838,956	66.0	%	2,167,931	9.0	%	—	—		16,736	0.1	%	18,023,623	75.1	%
New York	1,666,876	6.9	%	2,348,812	9.8	%	387,400	1.6	%	17,300	0.1	%	4,420,388	18.4	%
Connecticut	—	—		273,000	1.1	%	—	—		—	—		273,000	1.1	%
Wash., D.C./Maryland	1,292,807	5.4	%	—	—		—	—		—	—		1,292,807	5.4	%
TOTALS By Type:	18,798,639	78.3	%	4,789,743	19.9	%	387,400	1.6	%	34,036	0.2	%	24,009,818	100.0	%

(a) Excludes six consolidated operating multi-family properties, aggregating 1,301 apartment homes; as well as 52 operating properties, aggregating approximately 5.7 million commercial square feet and 4,343 apartment homes, which are not consolidated by the Company.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Consolidated Operating Portfolio Analysis (a)

(12 Months ended September 30, 2015)

Breakdown by Base Rental Revenue (b)

(Dollars in thousands)

PROPERTY TYPE:

													Stand-
			% of		Office/		% of		Indust./		% of		Alone		% of		Land		% of		Multi-		% of		Totals			% of
STATE	Office		Total		Flex		Total		Warehouse		Total		Retail		Total		Leases		Total		Family		Total		By State			Total

New Jersey	$	319,818	67.3	%	$	17,794	3.7	%	—		—		—		—		—		—		$	7,184	1.5	%	$	344,796		72.5	%
New York	43,961		9.2	%	33,330		7.0	%	$	4,434	0.9	%	$	305	0.1	%	$	352	0.1	%	—		—		82,382			17.3	%
Connecticut	—		—		4,110		0.9	%	—		—		—		—		—		—		—		—		4,110			0.9	%
Wash., D.C./Maryland	27,923		5.9	%	—		—		—		—		—		—		153		—		—		—		28,076			5.9	%
Massachusetts	—		—		—		—		—		—		—		—		—		—		15,938		3.4	%	15,938			3.4	%
TOTALS By Type:	$	391,702	82.4	%	$	55,234	11.6	%	$	4,434	0.9	%	$	305	0.1	%	$	505	0.1	%	$	23,122	4.9	%	$	475,302	(c)	100.0	%

(a) Excludes 52 operating properties, aggregating approximately 5.7 million commercial square feet and 4,343 apartment homes, which are not consolidated by the Company.

(b) Total base rent for the 12 months ended September 30, 2015, determined in accordance with GAAP. Substantially all of the commercial leases provide for annual base rents plus recoveries and escalation charges based upon the tenants’ proportionate share of and/or increases in real estate taxes and certain costs, as defined, and the pass through of charges for electrical usage.

Breakdown by Percentage Leased for Commercial Properties

PROPERTY TYPE:

									Weighted Avg.
STATE	Office		Office/Flex		Industrial/Warehouse		Stand-Alone Retail		By State
New Jersey	84.2	%	90.3	%	—		52.2	%	84.9	%
New York	90.9	%	92.2	%	97.9	%	100.0	%	92.2	%
Connecticut	—		96.3	%	—		—		96.3	%
Washington, D.C./ Maryland	74.1	%	—		—		—		74.1	%

WEIGHTED AVG. By Type:	84.1	%	91.6	%	97.9	%	76.5	%	85.8	%

Percentage leased includes all commercial leases in effect as of the period end date, some of which have commencement dates in the future as well as leases expiring September 30, 2015, aggregating 64,226 square feet for which no new leases were signed.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

OFFICE PORTFOLIO - POTENTIAL

Summary of Development Projects

(dollars in thousands)

As of September 30, 2015

Costs

Estimated

Incurred

Total

Initial

Through

Estimated

Delivery

Property

Location

Type

09/30/15

Costs

Date

Consolidated;

Wegmans Food Markets

Hanover, NJ

Retail pad/Land Lease

13,926

28,652

1Q-2017

Total In-Process Development Projects:

13,926

28,652

Summary of Land Holdings

As of September 30, 2015

			Potential
			Commercial
Property	Location	State	Square Feet (a)	Type of Space
Office:
Capital Office Park	Greenbelt	MD	595,000	Office
Eastpoint II	Lanham	MD	122,000	Office/Hotel
3 & 5 AAA Drive (b)	Hamilton Township	NJ	112,000	Office
6 AAA Drive	Hamilton Township	NJ	32,000	Office
2 South Gold Drive (c)	Hamilton Township	NJ	75,000	Office
Hillsborough 206 (d)	Hillsborough	NJ	160,000	Office
Plaza VIII and IX Associates, L.L.C. (d)	Jersey City	NJ	1,225,000	Office
Harborside	Jersey City	NJ	1,067,000	Office
3 Campus Drive	Parsippany	NJ	124,000	Office
Mack-Cali Business Campus	Parsippany & Hanover	NJ	150,000	Office/Retail
Princeton Metro	West Windsor	NJ	97,000	Office
Princeton Overlook II	West Windsor	NJ	149,500	Office
Mack-Cali Princeton Executive Park	West Windsor	NJ	760,000	Office/Hotel
Total Office:			4,668,500

Office/Flex:
Horizon Center	Hamilton Township	NJ	68,000	Office/Flex/Retail
Mack-Cali Commercenter	Totowa	NJ	30,000	Office/Flex
Mid-Westchester Executive Park	Hawthorne	NY	82,250	Office/Flex
South Westchester Executive Park (e)	Yonkers	NY	350,000	Office/Flex
South Westchester Executive Park	Yonkers	NY	50,000	Office/Flex
Total Office/Flex:			580,250

Industrial/Warehouse:
Elmsford Distribution Center (e)	Elmsford	NY	100,000	Industrial/Warehouse
Total Warehouse:			100,000

Total			5,348,750

(a) Amount of square feet is subject to change.

(b) This land parcel also includes an existing office building totaling 35,270 square feet.

(d) Land owned or controlled by joint venture in which Mack-Cali is an equity partner.

(e) Mack-Cali holds an option to purchase this land.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Significant Commercial Tenants

The following table sets forth a schedule of the Company’s 50 largest tenants for the Consolidated Commercial Properties as of September 30, 2015, based upon annualized base rental revenue:

			Percentage of
		Annualized	Company	Square	Percentage	Year of
	Number of	Base Rental	Annualized Base	Feet	Total Company	Lease
	Properties	Revenue ($) (a)	Rental Revenue (%)	Leased	Leased Sq. Ft. (%)	Expiration

DB Services New Jersey, Inc.	2	12,335,217	2.6	409,166	2.0	2017
National Union Fire Insurance Company of Pittsburgh, PA	2	11,191,058	2.3	388,651	1.9	(b)
Bank Of Tokyo-Mitsubishi FUJI, Ltd.	1	10,540,716	2.2	282,606	1.4	(c)
United States of America-GSA	12	9,357,707	1.9	287,169	1.4	(d)
Forest Research Institute, Inc.	1	9,070,892	1.9	215,659	1.1	2017
Montefiore Medical Center	7	7,420,328	1.5	314,049	1.6	(e)
ICAP Securities USA, LLC	1	6,975,342	1.4	159,834	0.8	2017
KPMG, LLP	3	6,477,972	1.3	224,364	1.1	(f)
Daiichi Sankyo, Inc.	1	6,277,788	1.3	171,900	0.9	2022
TD Ameritrade Online Holdings	1	6,223,323	1.3	188,776	0.9	2020
Merrill Lynch Pierce Fenner	1	5,883,780	1.2	294,189	1.5	2017
New Cingular Wireless PCS, LLC	2	4,841,564	1.0	212,816	1.1	2018
HQ Global Workplaces, LLC	15	4,796,929	1.0	248,544	1.2	(g)
Vonage America, Inc.	1	4,515,000	0.9	350,000	1.7	2017
CohnReznick, LLP	2	4,333,954	0.9	155,056	0.8	(h)
Arch Insurance Company	1	4,005,563	0.8	106,815	0.5	2024
AECOM Technology Corporation	1	3,707,752	0.8	91,414	0.5	2029
Morgan Stanley Smith Barney	3	3,665,965	0.8	129,896	0.6	(i)
UBS Financial Services, Inc.	3	3,606,759	0.7	127,429	0.6	(j)
Allstate Insurance Company	5	3,194,396	0.7	135,816	0.7	(k)
SunAmerica Asset Management, LLC	1	3,167,756	0.7	69,621	0.3	2018
Alpharma, LLC	1	3,142,580	0.7	112,235	0.6	2018
Tullett Prebon Holdings Corp.	1	3,127,970	0.6	100,759	0.5	2023
TierPoint New York, LLC	2	3,014,150	0.6	131,078	0.7	2024
E*Trade Financial Corporation	1	2,930,757	0.6	106,573	0.5	2022
Natixis North America, Inc.	1	2,823,569	0.6	89,907	0.4	2021
AAA Mid-Atlantic, Inc.	2	2,779,829	0.6	129,784	0.6	(l)
Tradeweb Markets, LLC	1	2,721,070	0.6	65,242	0.3	2027
Plymouth Rock Management Company of New Jersey	2	2,703,752	0.6	106,618	0.5	2020
Connell Foley, LLP	2	2,689,686	0.6	97,822	0.5	(m)
United Water Management & Services, Inc.	1	2,618,100	0.5	116,360	0.6	2035
New Jersey Turnpike Authority	1	2,605,798	0.5	100,223	0.5	2017
Continental Casualty Company	2	2,596,584	0.5	94,224	0.5	(n)
Lowenstein Sandler LLP	1	2,565,602	0.5	98,677	0.5	2017
Bunge Management Services, Inc.	1	2,372,387	0.5	91,509	0.5	(o)
Movado Group, Inc.	1	2,359,824	0.5	98,326	0.5	2018
Bozzuto & Associates, Inc.	1	2,359,542	0.5	104,636	0.5	2025
Herzfeld & Rubin, P.C.	1	2,337,363	0.5	56,322	0.3	2030
AMTrust Financial Services, Inc.	1	2,306,760	0.5	76,892	0.4	2023
Savvis Communications Corporation	1	2,287,168	0.5	71,474	0.4	2025
Norris, McLaughlin & Marcus, PA	1	2,259,738	0.5	86,913	0.4	2017
Barr Laboratories, Inc.	1	2,209,107	0.5	89,510	0.4	2016
Sumitomo Mitsui Banking Corp.	2	2,170,167	0.5	71,153	0.4	2021
New Jersey City University	1	2,084,614	0.4	68,348	0.3	2035
Sun Chemical Management, LLC	1	2,034,798	0.4	66,065	0.3	2019
Syncsort, Inc.	1	1,991,439	0.4	73,757	0.4	2018
Jeffries, LLC	1	1,945,653	0.4	62,763	0.3	2023
American General Life Insurance Company	1	1,854,975	0.4	74,199	0.4	2024
Bressler, Amery & Ross, P.C.	1	1,766,850	0.4	70,674	0.4	2023
Withum Smith + Brown	3	1,740,738	0.3	64,165	0.3	(p)
Totals		201,990,331	41.9	7,139,978	35.5

See footnotes on subsequent page.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

(a)	Annualized base rental revenue is based on actual September 2015 billings times 12. For leases whose rent commences after October 1, 2015, annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above.
(b)	271,533 square feet expire in 2018; 117,118 square feet expire in 2019.
(c)	20,649 square feet expire in 2018; 24,607 square feet expire in 2019; 237,350 square feet expire in 2029.
(d)	13,893 square feet expire in 2015; 56,270 square feet expire in 2016; 147,606 square feet expire in 2018; 28,102 square feet expire in 2020; 21,596 square feet expire in 2022; 19,702 square feet expire in 2023.
(e)	43,047 square feet expire in 2016; 59,302 square feet expire in 2017; 36,385 square feet expire in 2018; 133,763 square feet expire in 2019; 8,600 square feet expire in 2020; 14,842 square feet expire in 2021; 9,610 square feet expire in 2022; 8,500 square feet expire in 2023.
(f)	88,652 square feet expire in 2017; 81,371 square feet expire in 2019; 54,341 square feet expire in 2026.
(g)	4,424 square feet expire in 2015; 12,407 square feet expire in 2017; 41,549 square feet expire in 2019; 21,008 square feet expire in 2020; 32,579 square feet expire in 2021; 15,523 square feet expire in 2023; 105,646 square feet expire in 2024; 15,408 square feet expire in 2027.
(h)	1,021 square feet expire in 2018; 154,035 square feet expire in 2020.
(i)	26,262 square feet expire in 2018; 61,239 square feet expire in 2025; 42,395 square feet expire in 2026.
(j)	42,360 square feet expire in 2016; 13,340 square feet expire in 2022; 26,713 square feet expire in 2024; 45,016 square feet expire in 2026.
(k)	4,014 square feet expire in 2016; 75,740 square feet expire in 2017; 51,606 square feet expire in 2018; 4,456 square feet in 2019.
(l)	9,784 square feet expire in 2017; 120,000 square feet expire in 2027.
(m)	7,116 square feet expire in 2015; 77,719 square feet expire in 2016; 12,987 square feet expire in 2026.
(n)	19,416 square feet expire in 2016; 74,808 square feet expire in 2031.
(o)	25,206 square feet expire in 2016; 66,303 square feet expire in 2025.
(p)	5,427 square feet expire in 2015; 58,738 square feet expire in 2016.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Tenant Size Distribution

All Consolidated Commercial Properties

					Annualized	Percentage of
	Number	Percentage of		Percentage of	Base Rental	Annualized
	of	Total Number	Rentable	Rentable Area	Revenue	Base Rental
Square Feet Leased	Tenants (c)	of Tenants (%)	Area (b) (c)	(%)	($) (a) (b) (c)	Revenue (%)
2,500 or less	412	25.2	591,187	2.9	14,603,574	3.1
2,501 - 10,000	734	45.0	3,825,737	19.0	84,048,511	17.4
10,001 - 20,000	264	16.2	3,754,715	18.7	79,509,271	16.5
20,001 - 40,000	121	7.4	3,382,793	16.8	80,102,126	16.6
40,001 - 100,000	85	5.2	5,486,189	27.3	134,421,755	27.9
Greater than 100,000	17	1.0	3,074,923	15.3	88,988,548	18.5

Totals	1,633	100.0	20,115,544	100.0	481,673,785	100.0

(a) Annualized base rent revenue is based on actual September 2015 billings times 12. For leases whose rent commences after October 1, 2015, annualized base rental revenue is based on the first full month’s billings times 12. As annualized based rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above.

(b) Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring September 30, 2015, aggregating 64,226 square feet and representing rent of $1,036,321 for which no new leases were signed.

(c) Includes office, office/flex, industrial and stand-alone retail tenants only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Market Diversification

The following table lists the Company’s markets (MSAs) based on annualized commercial contractual base rent of the Consolidated Commercial Properties:

		Percentage of
		Company
	Annualized Base	Annualized	Total Property
	Rental Revenue	Base Rental	Size Rentable	Percentage of
Market (MSA)	($) (a) (b) (c)	Revenue (%)	Area (b) (c)	Rentable Area (%)
Jersey City, NJ	116,590,690	24.1	4,334,714	18.1
Newark, NJ (Essex-Morris-Union Counties)	107,042,213	22.2	5,420,940	22.6
Westchester-Rockland, NY	68,176,368	14.2	3,895,912	16.2
Bergen-Passaic, NJ	62,408,217	13.0	3,315,518	13.8
Monmouth-Ocean, NJ	28,733,661	6.0	1,620,863	6.7
Washington, DC-MD-VA-WV	26,811,980	5.6	1,292,807	5.4
Middlesex-Somerset-Hunterdon, NJ	23,260,887	4.8	1,120,527	4.7
Trenton, NJ	18,519,341	3.8	956,597	4.0
New York (Manhattan)	18,154,849	3.8	524,476	2.2
Philadelphia, PA-NJ	7,751,526	1.6	1,260,398	5.2
Stamford-Norwalk, CT	4,224,053	0.9	273,000	1.1

Totals	481,673,785	100.0	24,015,752	100.0

(a)		Annualized base rental revenue is based on actual September 2015 billings times 12. For leases whose rent commences after October 1, 2015, annualized base rental revenue is based on the first full month’s billing times 12. As annualized base rental revenue is not derived from historical GAAP results, historical results may differ from those set forth above.
(b)		Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring September 30, 2015 aggregating 64,226 square feet and representing annualized rent of $1,036,321 for which no new leases were signed.
(c)		Includes office, office/flex, industrial/warehouse and stand-alone retail tenants only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Industry Diversification

The following table lists the Company’s 30 largest industry classifications based on annualized commercial contractual base rent of the Consolidated Commercial Properties:

	Annualized	Percentage of		Percentage of
	Base Rental	Company	Square	Total Company
	Revenue	Annualized Base	Feet Leased	Leased
Industry Classification (a)	($) (b) (c) (d)	Rental Revenue (%)	(c) (d)	Sq. Ft. (%)
Securities, Commodity Contracts & Other Financial	69,767,048	14.4	2,377,839	11.8
Insurance Carriers & Related Activities	51,815,228	10.7	1,878,914	9.3
Manufacturing	35,691,917	7.3	1,728,469	8.6
Legal Services	33,599,930	7.0	1,237,425	6.2
Credit Intermediation & Related Activities	32,260,624	6.7	1,055,400	5.2
Computer System Design Svcs.	21,699,200	4.5	944,549	4.7
Health Care & Social Assistance	21,570,703	4.5	1,129,563	5.6
Accounting/Tax Prep.	21,311,275	4.4	782,304	3.9
Wholesale Trade	16,593,983	3.4	1,123,158	5.6
Telecommunications	16,360,431	3.4	895,559	4.5
Scientific Research/Development	15,205,311	3.2	501,242	2.5
Public Administration	14,987,127	3.1	532,084	2.6
Admin & Support, Waste Mgt. & Remediation Svcs.	13,984,821	2.9	698,035	3.5
Architectural/Engineering	13,617,543	2.8	531,145	2.6
Other Services (except Public Administration)	11,484,520	2.4	465,401	2.3
Management/Scientific	11,390,619	2.4	436,907	2.2
Other Professional	11,075,592	2.3	503,569	2.5
Real Estate & Rental & Leasing	8,493,890	1.8	450,133	2.2
Retail Trade	7,729,645	1.6	463,268	2.3
Advertising/Related Services	7,424,044	1.5	275,566	1.4
Utilities	7,129,920	1.5	313,531	1.6
Transportation	5,641,923	1.2	285,202	1.4
Construction	4,949,441	1.0	275,393	1.4
Educational Services	4,330,734	0.9	180,983	0.9
Data Processing Services	3,962,940	0.8	144,947	0.7
Publishing Industries	3,776,840	0.8	185,577	0.9
Arts, Entertainment & Recreation	3,295,164	0.7	240,102	1.2
Agriculture, Forestry, Fishing & Hunting	2,372,387	0.5	91,509	0.5
Information Services	2,031,789	0.4	67,021	0.3
Broadcasting	1,782,951	0.4	52,732	0.3
Other	6,336,245	1.5	268,017	1.3

TOTAL	481,673,785	100.0	20,115,544	100.0

(a) The Company’s tenants are classified according to the U.S. Government’s North American Industrial Classification System (NAICS).

(c) Includes leases in effect as of the period end date, some of which have commencement dates in the future, and leases expiring September 30, 2015 aggregating 64,226 square feet and representing annualized rent of $1,036,321 for which no new leases were signed.

(d) Includes office, office/flex, industrial/warehouse and stand-alone retail tenants only. Excludes leases for amenity, retail, parking and month-to-month tenants. Some tenants have multiple leases.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Analysts, Company Information and Executive Officers

Equity Research Coverage

Barclays Capital	Cowen and Company	Green Street Advisors	SunTrust Robinson Humphrey, Inc.
Ross L. Smotrich / Peter Siciliano	James Sullivan	John Bejjani	Michael R. Lewis
(212) 526-2306 / (212) 526-3098	(646) 562-1380	(949) 640-8780	(212) 319-5659

BofA Merrill Lynch	Deutsche Bank North America	JP Morgan	UBS Investment Research
James C. Feldman / Scott Freitag	Vincent Chao	Anthony Paolone	Ross T. Nussbaum
(646) 855-5808 / (646) 855-3197	(212) 250-6799	(212) 622-6682	(212) 713-2484

Citigroup	Evercore ISI	Stifel Nicolaus & Company, Inc.
Michael Bilerman / Emmanuel Korchman	Steve Sakwa / Gabe Hilmoe	John Guinee / Erin Aslakson
(212) 816-1383 / (212) 816-1382	(212) 446-9462 / (212) 446-9459	(443) 224-1307 / 443-224-1350

Any opinions, estimates, forecasts or predictions regarding Mack-Cali Realty Corporation’s performance made by these analysts are theirs alone and do not represent opinions, estimates, forecasts or predictions of Mack-Cali Realty Corporation or its management. Mack-Cali does not by its reference above or distribution imply its endorsement of or concurrence with such opinions, estimates, forecasts or predictions.

Company Information


Corporate Headquarters	Stock Exchange Listing	Contact Information	Senior Debt Ratings
343 Thornall Street	New York Stock Exchange	Mack-Cali Realty Corporation	BBB- (S&P and Fitch);
Edison, New Jersey 08837-2206		Investor Relations Department	Baa3 (Moody’s)
(732) 590-1000	Trading Symbol	343 Thornall Street
	Common Shares: CLI	Edison, New Jersey 08837-2206
		Deidre Crockett, Director of Investor Relations
		Phone: (732) 590-1025
		Fax: (732) 205-4951
		E-Mail: dcrockett@mack-cali.com
		Web: www.mack-cali.com

Executive Officers

Mitchell E. Rudin	Michael J. DeMarco	Marshall Tycher
Chief Executive Officer	President and Chief Operating Officer	President, Roseland Residential Trust

Anthony Krug	Gary Wagner	Ricardo Cardoso
Chief Financial Officer	Chief Legal Officer and Secretary	EVP and Chief Investment Officer

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

The Company considers portions of this information to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “continue” or comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, the Company can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

Among the factors about which the Company has made assumptions are:

·	risks and uncertainties affecting the general economic climate and conditions, which in turn may have a negative effect on the fundamentals of the Company’s business and the financial condition of the Company’s tenants and residents;

·	the value of the Company’s real estate assets, which may limit the Company’s ability to dispose of assets at attractive prices or obtain or maintain debt financing secured by the Company’s properties or on an unsecured basis;

·	the extent of any tenant bankruptcies or of any early lease terminations;

·	the Company’s ability to lease or re-lease space at current or anticipated rents;

·	changes in the supply of and demand for the Company’s properties;

·	changes in interest rate levels and volatility in the securities markets;

·	the Company’s ability to complete construction and development activities on time and within budget, including without limitation obtaining regulatory permits and the availability and cost of materials, labor and equipment;

·	forward-looking financial and operational information, including information relating to future development projects, potential acquisitions or dispositions, and projected revenue and income;

·	changes in operating costs;

·	the Company’s ability to obtain adequate insurance, including coverage for terrorist acts;

·	the Company’s credit worthiness and the availability of financing on attractive terms or at all, which may adversely impact the Company’s ability to pursue acquisition and development opportunities and refinance existing debt and the Company’s future interest expense;

·	changes in governmental regulation, tax rates and similar matters; and

·	other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants or residents will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated.

For further information on factors which could impact the Company and the statements contained herein, see Item 1A: Risk Factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The Company assumes no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Company. Any offers to sell or solicitations of the Company shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the “10-Q”) filed by the Company for the same period with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-Q and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification.

Mack-Cali Realty Corporation Supplemental Operating and Financial Data for the Quarter Ended September 30, 2015

Exhibit 99.2

Supplemental Operating and Financial Data Roseland Residential Platform Third Quarter 2015

2 Monaco (operating) Marbella (operating) URL® Harborside – I (in-construction) San Remo (future development) Marbella 2 (in-construction) Jersey City Waterfront

Portside at Pier One RiverTrace at Port Imperial URL® Harborside Index Roseland and Portfolio Overview Company Overview Geographic Summary NAV Breakdown Financial Schedules Operating & Lease-Up Communities Subordinated Interest Communities In-Construction Communities Predevelopment and Future Communities Capitalization Highlights 2016 Highlights The Chase at Overlook Ridge 3 3Q 2015

Roseland and Portfolio Overview 3Q 2015

Roseland Overview- The Company Roseland, Mack-Cali’s platform for its expansion into the Residential sector, is a premier full-service residential and mixed-use developer in the Northeast with an industry-leading reputation for successful conception, execution, and management of Class A residential developments Roseland’s scalable and integrated business platform oversees the Company’s operating and in-construction assets, geographically desirable land portfolio, sourcing of new development and acquisition opportunities, and repurposing activities of Mack-Cali’s office holdings Roseland’s portfolio is at the forefront of characteristics supportive of market-leading valuations: (i) top in market rents (ii) young average building age (iii) geographically concentrated exclusively in the Northeast Roseland executive leadership, a cohesive unit since 2003, has an average experience of 17 years at Roseland and 26 years in the industry: Marshall Tycher President Andrew Marshall Chief Operating Officer, EVP Ivan Baron Chief Legal Counsel, SVP Bob Cappy Chief Financial Officer, SVP Gabriel Shiff Chief Investment Officer, SVP Brenda Cioce President, Roseland Residential Services 5 3Q 2015

Roseland Overview- 3Q Highlights Initiated the formation of Roseland Residential Trust (RRT), a private REIT owned by Mack-Cali dedicated to execution of the Residential growth strategy. REIT formation is scheduled for completion in November Commenced construction on three developments comprised of 893 apartments/keys: Stabilized the 176 apartment Portside at Pier One in East Boston Construction activities included: Topping-off the 763 apartment URL® Harborside in Jersey City, NJ Completing the second of the Port Imperial parking garages with 775 spaces (opened October 2015) Continued construction on Quarry Place in Tuckahoe, NY (108 apartments) and Marbella 2 in Jersey City, NJ (311 apartments) Reached an agreement to acquire partner interest in The Chase at Overlook Ridge – I. Based on project valuation of $104 million, the acquisition price for the partner’s interest is approximately $40 million Through placement of acquisition financing and harvesting of in-place promote value, Roseland will recognize initial returns on its levered $20 million investment of approximately 14% (closing scheduled for November 2015) Project Location Apts/ Keys Ownership Total Costs Projected Stabilized NOI Projected Stabilized Yield Port Imperial Hotel Worcester – I Chase II at Overlook Ridge Weehawken, NJ Worcester, MA Malden, MA 364 237 292 90% 100% 100% $129,600 59,290 74,360 $13,000 3,736 4,795 10.03% 6.30% 6.45% Total 893 $263,250 $21,531 8.18% Note: Includes event subsequent to quarter-end. 6 3Q 2015

Roseland Overview- Strategic Objectives Consistent with past practices and our reputation, we plan to construct the finest residential portfolio in the Northeast focused on transit-based locations – maintaining the highest quality performance as compared to publically-traded comparables Our future development is substantially (over 70%) in communities where we have developed before, or more specifically adjacent to existing developments. This allows us to have intimate knowledge on operating expenses and construction costs, and most importantly, achievable rent thresholds. We believe this dramatically reduces our construction risk Our market knowledge, coupled with our low land costs and well-positioned holdings, will provide above average returns Our portfolio growth will be focused around the following principal locations: Hudson Waterfront: Jersey City and Port Imperial Boston Region Suburban New York/New Jersey Washington, DC Philadelphia Region Our portfolio growth will include the highly accretive repurposing of non-strategic Mack-Cali office holdings (approximately 10 are active) to residential use (see Repurposing Candidates herein) 7 3Q 2015

We have a target portfolio of approximately 15,000 operating and in-construction apartments by year-end 2018, to be primarily achieved through development and repurposing activities from Roseland’s valuable land portfolio (no additional acquisitions required) Further, as we have done over the last few years, we will seek to maximize ownership and economic participation on future communities, while evaluating conversions of existing subordinated interests Roseland Overview- Strategic Objectives 8 Portfolio Ownership (Units) Portfolio Ownership (Cash Flow Contribution) 3Q 2015

As of September 30, 2015, Roseland had a current portfolio (excluding communities under third party management) of: Roseland envisions significant cash flow and value creation growth through the production of its future development portfolio with a target of approximately 15,000 operating and in-construction apartments by year-end 2018 * Includes development potential from office holdings transferred upon formation of RRT. Portfolio Overview- Highlights Classification Operating Communities Subordinated Interests In-Construction Communities Predevelopment and Future Communities * Total Apartments 2,618 3,026 2,075 10,901 18,620 9 3Q 2015

Portfolio Overview- Hudson Waterfront (Jersey City) In addition to Mack-Cali’s dominant office presence, Roseland is one of the leading owners and developers in the growing Jersey City market. Portfolio highlights include: 10 Project Overview Apts. NAV ($M) URL® Harborside I (In Construction) An 85% controlling interest in the 763 apartments, 69-story tower, URL development that topped-off in 3Q 2015 and will deliver units in 4Q 2016. We expect to produce NOI, including the sale of our tax credits, in excess of $21 million. 763 $170 Marbella 1 and 2 (In Construction & Operating) A 24.27% subordinated interest in the stabilized 412 apartment Marbella, with a sizable NAV of approximately $27 million. A 24.27% joint venture interest in the 311 apartment Marbella 2, a 38-story tower that will deliver initial apartments in 1Q 2016. Projected NOI of approximately $8.5 million. 723 54 Additional Interests Monaco (Operating): A 15% subordinated interest in the 523 apartment tower. San Remo (Future): A 33.3% joint venture interest to develop 250 apartments adjacent to Monaco. Harborside URL II and III (Future): Fully entitled land to develop approximately 1,500 apartments in two towers subject to the same development agreement as Harborside I. Liberty Landing (Future): Development rights to build 850 apartments near the Jersey City Medical Center. Current ownership 50%. Harborside Plazas 8 and 9 (Future): Development potential of approximately 1,600 units on the waterfront. Current ownership 50%. 523 250 1,500 850 1,600 10 1 64 0 40 Total 6,209 $339 3Q 2015 URL® Harborside

Portfolio Overview- Hudson Waterfront (Port Imperial) Roseland is the master developer of Port Imperial, a 200-acre master planned community on the Hudson River directly across from midtown Manhattan in the townships of Weehawken and West New York. Roseland’s interests in Port Imperial are comprised of: 11 Project Overview Apts. NAV ($M) RiverTrace, RiversEdge, RiverParc (Operating) Subordinated interests in these three communities totaling 832 apartments. The communities were completed from 2009 (RiversEdge) to RiverParc which is finalizing its lease-up – currently at 83.2%. 832 $17 Port Imperial Hotel (In-Construction) In 3Q 2015, Roseland commenced construction on a dual flag (Renaissance and Residence Inn) 364-key hotel. The hotel will be situated in the heart of Port Imperial, will have significant capacity for food and beverage, and will be a cornerstone amenity for the Port Imperial community. Roseland’s ownership is 90%. 364 63 Port Imperial Garages (Operating) Roseland developed two garages at Port Imperial to unlock the development potential of the previous surface parking lots. The primary demand driver for these garages is commuter parking, though the 4/5 garage will also serve as the foundation and parking for the recently started Port Imperial Hotel. n/a 32 Additional Interests Port Imperial North (Future): In joint venture with Prudential, Roseland has four planned residential developments representing approximately 1,200 fully entitled apartments. Port Imperial South (Future): In joint venture with the Imperatore Family, Roseland has five planned residential developments representing 1,126 fully entitled apartments and an office parcel for 290,000 square feet. The next projected start is Building 11 in 4Q 2015. Retail (Operating): Roseland has a series of ground floor retail condominium interests. 1,199 1,126 n/a 6 22 5 Total 3,521 $145 3Q 2015 Port Imperial Masterplan

Portfolio Overview- Boston Region Roseland has significant investments in the greater Boston marketplace highlighted by its investment in the Overlook Ridge masterplan community located off Route 1, 5-miles north of Boston. 12 Project Overview Apts. NAV ($M) Alterra at Overlook Ridge (Operating) A 100% interest in 722 stabilized apartments currently undergoing repositioning. The unencumbered communities were acquired for $149.2 million and have a projected post-renovation NOI of $8.9 million. 722 $167 Chase I and Chase II at Overlook Ridge (Operating & In-Construction) A 50% subordinated interest in the stabilized 371 apartments Chase I (subsequent to quarter end, Roseland reached an agreement to acquire joint venture partner’s interest). A 100% interest in the 292 apartment Chase II which commenced construction in 3Q 2015. Projected combined NOI of $10.2 million. 663 58 Portside at Pier One (Operating & In-Construction) A development site directly across from downtown on the East Boston waterfront. To date, Roseland has a subordinated interest in the recently stabilized 176 apartment Phase I (NAV of $4 million), is preparing construction for the 296-unit Phase II, and has future development rights for 160 units on the pier. 632 4 Additional Interests Andover (Operating): A wholly-owned unencumbered 220 apartment community undergoing repositioning. Worcester (In Construction & Future): A recently commenced development (Phase I - 237 apartments) in the heart of Worcester, representing the residential revitalization of downtown. The 128 units of Phase II will commence construction in the future. Roseland owns 100% of Worcester. Overlook Ridge (Future): A wholly-owned unencumbered interest to develop an additional 742 apartments and ancillary commercial uses. 220 365 742 44 28 29 Total 3,344 $330 3Q 2015 Overlook Ridge Masterplan

Portfolio Overview- Suburban NY/NJ Roseland’s presence in these markets is comprised of owned communities, in- construction projects, and multiple future development opportunities. 13 Project Overview Apts. NAV ($M) Park Square and Riverwatch (Operating) Roseland acquired these communities located in Rahway (159 apartments) and New Brunswick (200 apartments), and are executing a repositioning on Riverwatch. The acquired communities have a projected post-renovation combined NOI of $4.5 million. 359 $66 Quarry Place at Tuckahoe (In-Construction) Roseland is in construction on this 108 apartment community located in Tuckahoe in the high-barrier-to-entry lower Westchester County. We own a 76.25% consolidated interest and anticipate initial deliveries in Q2 2016. 108 36 RiverPark at Harrison (Operating) Located on the waterfront in Harrison, NJ, the 141 apartments community recently achieved stabilization. Roseland has a 45% joint venture interest. 141 6 Epstein's Redevelopment (Operating & Future) Roseland, the master developer of the Epstein site on the Green in Morristown, has a subordinated interest in the Metropolitan and Shoppes at 40 Park, and is preparing for a construction start for the 59 apartment Lofts in 2016. 189 2 Additional Interests Roseland’s holdings in New Jersey also include a subordinated interest in Estuary on the Weehawken waterfront (582 units), a series of repurposing candidates, and contract rights near the Freehold Raceway Mall (400 units). 982 6 Total 1,779 $116 3Q 2015 Epstein’s Redevelopment

Portfolio Overview- Washington, DC and Philadelphia Roseland has two major investments inside the Beltway of Washington, DC, Station House, and Crystal House, and other valuable holdings within the region: 14 Project Overview Apts. NAV ($M) Station House (Operating) Roseland acquired a 50% interest in Station House for $46.5 million. The development, with a projected stabilized NOI of $11.3 million, is current leasing up with an expected stabilization date within six months. 378 $70 Crystal House (Operating & Future) In joint venture with UBS, Roseland acquired a 25% interest in the 828 apartment Crystal House. The venture embarked on a $30 million repositioning plan to modernize the common amenities and units. To date, $15.8 million has been spent on renovation and capital expenditures. In joint venture with UBS, Roseland also acquired a 50% interest in the next phases of the Crystal House community including approximately 550 apartments. Predevelopment activities have commenced on the projected 2016 construction start of 252 apartments. 828 550 27 8 Philadelphia Interests Conshohocken: Roseland acquired a parcel for the development of 294 apartments along the Conshohocken waterfront. Other: Roseland is in negotiation to acquire a 275 apartment development in Center City and is finalizing approvals for a repurposing development in Bala Cynwyd (see Repurposing Candidates) 294 n/a 14 n/a Total 2,050 $119 3Q 2015 Station House Lobby

Portfolio Overview- Repurposing Candidates Roseland has been actively repurposing select Mack-Cali office holdings, with the first anticipated construction start in 4Q 2015 and two starts in 2016. Roseland is actively seeking approvals on multiple additional potential developments We anticipate material value creation through our repurposing exercises. For example, the value creation in Short Hills is: Current office value book basis: $4.1 million Via the rezoning process, Roseland has received approvals for the repurposing of 233 Canoe Brook Road and portions of 150 JFK Parkway surface parking, for: 200 apartments (170 market-rate) and 225 hotel keys The development will require the construction of a garage for displaced surface parking at an approximate cost of $7 million – combined effective basis: $11 million As approved, the estimated value of the land is now: $26 million (net ~$15 million) The combined features of the hotel, luxury multifamily, and 255,000 Class A office will be one of the finest mixed-use developments in the region 15 Short Hills, NJ Apts: 200 Target Start: 2016 Morris Plains, NJ Apts: 188 Target Start: 2015 Bala Cynwyd, PA Apts: 207 Target Start: 2016 Total Units 595* NAV ($M) $27 Note: Excludes 225 approved hotel keys. 3Q 2015

Portfolio Overview NAV Breakdown As reflected below, primary contributors to Roseland’s approximate $1+ billion NAV are: Ownership Structure: Predominantly consolidated and joint venture interests Location: Geographically concentrated in Hudson Waterfront and Greater Boston markets 16 3Q 2015 Note: The Suburban NY/NJ region includes Roseland’s interest in Lincoln Harbor and repurposing candidates in that region. Apts/Keys NAV % Operating Communities Consolidated / Wholly Owned 1,301 $280,619 27% Joint Venture 1,317 102,973 10% Subordinate Interests 3,026 79,490 8% Subtotal - Operating Communities (1) 5,644 $463,082 44% In-Construction Communities Consolidated / Wholly Owned 1,001 $203,409 19% Joint Venture 1,074 196,533 19% Subtotal - In-Construction Communities 2,075 $399,942 38% Future Development Jersey City Developments 4,200 $104,010 10% Port Imperial Developments 2,172 37,644 4% Other Land / Platform 4,529 100,060 10% Subtotal - Future Development 10,901 $241,714 23% Equity to Complete In-Construction / Renovations (58,098) -6% Total Net Asset Value 18,620 $1,046,640 100% (1) Based on average capitalization rate of 4.77%.

Financial Schedules 3Q 2015 17

Financial Highlights- Operating & Lease-Up Communities As of September 30, 2015, Roseland had: Wholly owned or joint venture interest in 2,240 stabilized operating apartments and 378 lease-up apartments The stabilized portfolio had a leased percentage of 95.5%, compared to 96.5% in 2Q The lease-up portfolio had a leased percentage of 56.9%, compared to 40.5% in 2Q (representing leasing achievement of 62 apartments) Approximately 2,000 units are undergoing strategic repositioning (e.g.. Alterra at Overlook Ridge) We envision stabilization of and meaningful FFO contribution from Station House in Washington, DC in 2016 18 3Q 2015

Financial Highlights- Operating Communities 19 3Q 2015 Average Average Percentage Percentage Revenue Revenue Rentable Avg. Year Leased Leased Per Home Per Home NOI NOI NOI Operating Communities Location Ownership Apartments SF Size Complete Q3 2015 Q2 2015 Q3 2015 Q2 2015 Q3 2015 Q2 2015 YTD Consolidated Alterra at Overlook Ridge (1) Revere, MA 100.00% 722 663,139 918 2008 98.1% 97.1% $1,790 $1,709 $2,100 $1,937 $5,967 Park Square Rahway, NJ 100.00% 159 184,957 1,163 2009 96.9% 98.1% 2,137 2,130 508 510 1,503 Riverwatch (1) (4) New Brunswick, NJ 100.00% 200 147,852 739 1997 95.5% 99.2% 1,683 1,640 65 502 1,041 Andover Place (1) Andover, MA 100.00% 220 178,101 810 1989 98.2% 98.6% 1,413 1,373 372 387 1,136 Consolidated 100.00% 1,301 1,174,049 902 97.6% 97.8% $1,752 $1,694 $3,045 $3,336 $9,647 Joint Ventures Crystal House (1)(2) Arlington, VA 25.00% 798 740,941 928 1962 91.6% 94.0% $1,801 $1,781 $2,363 $2,578 $7,409 RiverPark at Harrison Harrison, NJ 45.00% 141 125,498 890 2014 98.6% 99.3% $2,044 NA $385 $37 $313 Joint Ventures 28.00% 939 866,439 923 92.7% 94.8% $1,801 $1,781 $2,066 $2,196 $6,343 Total Residential - Stabilized 69.82% 2,240 2,040,488 911 1997 95.5% 96.5% $1,773 $1,730 $5,111 $5,532 $15,990 Lease-up Station House Washington, DC 50.00% 378 290,348 768 2015 56.9% 40.5% $60 ($298) ($338) Lease-up 50.00% 378 290,348 768 56.9% 40.5% NA NA $60 ($298) ($338) Total Residential - Operating Communities (3) 66.96% 2,618 2,330,836 890 1999 NA NA NA NA $5,171 $5,234 $15,652 Parking Commercial Spaces Port Imperial Garage I Weehawken, NJ 43.75% 800 320,426 2013 NA NA $574 $506 $1,493 Port Imperial Retail I Weehawken, NJ 43.75% 16,736 2013 52.2% 52.2% (46) (26) (98) Total Commercial Communities 43.75% 800 337,162 52.2% 52.2% NA NA $528 $480 $1,395 Notes: (1) Assets targeted for or currently undergoing repositioning. (2) Unit count excludes 30 apartments offline until completion of all renovations. (3) Excludes approximately 39,310 SF of ground floor retail. (4) NOI was impacted in Q3 by a significant tax increase which we are actively appealing. Operating Highlights

Financial Highlights- Subordinated Interest Communities As of September 30, 2015, Roseland had: Subordinated interests in 2,570 stabilized operating apartments and 456 lease-up apartments The stabilized portfolio had a leased percentage of 98.0%, compared to 98.5% in 2Q The lease-up portfolio had a leased percentage of 89.0%, compared to 69.3% in 2Q (representing leasing achievement of 90 apartments) Roseland is strategically evaluating converting its promoted interests via disposition, acquisition or ownership buy-ups. Examples include: Morristown Train Station: In 2Q 2015, Roseland sold its interest for $6.4 million, representing an approximate 4.5% cap rate valuation The Chase at Overlook Ridge - I: Subsequent to quarter-end, Roseland reached an agreement to acquire its JV partner’s interest. By utilizing our in-place promoted interest, the valuation approximates to a 5.75% capitalization rate. With the placesment of acquisition financing, Roseland will recognize immediate levered returns on capital in excess of 14% Roseland has not formed a subordinated interest JV in nearly three-years, nor will it use this ownership structure on future developments 20 3Q 2015

Financial Highlights- Subordinated Interest Communities 21 3Q 2015 Average Average Percentage Percentage Revenue Revenue Rentable Avg. Year Leased Leased Per Home Per Home NOI NOI NOI Location Ownership Apartments SF Size Complete Q3 2015 Q2 2015 Q3 2015 Q2 2015 Q3 2015 Q2 2015 YTD Residential - Stabilized (1) Marbella Jersey City, NJ 24.27% 412 369,515 897 2003 96.8% 99.5% $3,058 $2,965 $2,435 $2,382 $7,190 Monaco Jersey City, NJ 15.00% 523 475,742 910 2011 98.1% 98.3% 3,426 3,305 3,638 3,453 10,472 RiversEdge at Port Imperial Weehawken, NJ 50.00% 236 214,963 911 2009 98.7% 97.0% 2,957 3,017 951 1,025 3,149 RiverTrace at Port Imperial Weehawken, NJ 25.00% 316 295,767 936 2014 97.5% 98.7% 3,055 2,924 1,672 1,575 4,946 The Estuary Weehawken, NJ 7.50% 582 530,587 912 2014 98.8% 98.6% 2,883 2,907 3,024 2,989 8,265 Metropolitan at 40 Park Morristown, NJ 12.50% 130 124,237 956 2010 99.2% 97.7% 3,282 3,262 704 687 2,070 The Chase at Overlook Ridge Malden, MA 50.00% 371 337,060 909 2014 97.6% 98.9% 1,891 1,825 1,346 1,152 3,530 Subtotal - Stabilized 24.16% 2,570 2,347,871 914 98.0% 98.5% $2,926 $2,871 $13,770 $13,263 $39,622 Residential - Lease-Up Portside at Pier One - 7 East Boston, MA 38.25% 176 156,693 890 2015 98.3% 93.9% 440 (24) 114 RiverParc at Port Imperial Weehawken, NJ 20.00% 280 255,828 914 2015 83.2% 53.9% 529 (439) 90 Subtotal - Lease-Up 27.04% 456 412,521 905 89.0% 69.3% N/A N/A $969 ($463) $204 Total Operating Communities (2) 24.59% 3,026 2,760,392 912 2012 96.7% 94.1% $2,926 $2,871 $14,739 $12,800 $39,826 Commercial Comm SF Shops at 40 Park Morristown, NJ 12.50% 50,973 2010 60.4% 60.4% 194 205 585 Riverwalk at Port Imperial West New York, NJ 20.00% 30,745 2008 64.0% 64.0% 162 156 475 Total Commercial Communities 15.32% 81,718 2009 61.8% 61.8% NA NA $356 $361 $1,060 Notes: (1) Ownership represents Company participation after satisfaction of Priority Capital. See Capitalization Details schedule herein. (2) Excludes approximately 34,350 SF of ground floor retail. Operating Highlights

Financial Highlights- In-Construction Communities As of September 30, 2015, Roseland had: Wholly owned or joint venture interest in 2,075 in-construction apartments and hotel keys (8 projects), including three communities that commenced construction in 3Q 2015: Port Imperial Hotel: A 364-key dual flag hotel (Renaissance and Residence Inn) will be the cornerstone amenity of Port Imperial and represents Marriott’s sole presence along the NJ Waterfront Chase II at Overlook Ridge: A development located adjacent to the stabilized Chase I. Upon completion, the combined 663 apartment Chase development will be operated as one community Worcester I: The first phase of this combined 365 apartment community represents the residential component of the revitalization plan for downtown Worcester The in-construction portfolio is projected to produce stabilized NOI of $56.7 million; Roseland average ownership/participation will be approximately 80% We envision lease-up commencements from Marbella 2 in 1Q 2016, with commencements of URL® Harborside and Quarry Place at Tuckahoe in 2016 Roseland has a remaining capital commitment to the buildout of this portfolio of approximately $50 million 22 3Q 2015

Financial Highlights- In-Construction Communities 23 3Q 2015 Third Projected Projected Apartment Total MCRC Party Total MCRC Initial Project Stabilized Stabilized Community Location Ownership Homes/Keys Costs Debt Capital Capital Costs Capital Start Occupancy Stabilization NOI Yield Consolidated Quarry Place at Tuckahoe Eastchester, NY 76.25% 108 $49,950 $28,750 $20,941 $259 $22,692 $13,500 Q1 2014 Q2 2016 Q1 2017 $3,448 6.90% Marriott Hotels @ Port Imperial (2) Weehawken, NJ 90.00% 364 129,600 94,000 32,040 $3,560 30,300 27,270 Q3 2015 Q4 2017 Q2 2018 13,000 10.03% The Chase II at Overlook Ridge (1) Malden, MA 100.00% 292 74,360 48,000 26,360 $0 11,234 11,234 Q3 2015 Q1 2017 Q1 2018 4,795 6.45% Worcester - I (1) Worcester, MA 100.00% 237 59,290 41,500 17,790 $0 3,707 3,236 Q3 2015 Q2 2017 Q2 2018 3,736 6.30% Consolidated 93.80% 1,001 $313,200 $212,250 $97,131 $3,819 $67,933 $55,240 $24,979 7.77% Joint Ventures Marbella 2 Jersey City, NJ 24.27% 311 $132,100 $77,400 $13,271 $41,429 $115,102 $11,417 Q3 2013 Q1 2016 Q4 2016 $8,470 6.41% URL ® Harborside - I Jersey City, NJ 85.00% 763 320,305 192,000 109,059 $19,246 174,391 109,059 Q4 2013 Q4 2016 Q3 2018 21,279 6.64% Joint Ventures 67.41% 1,074 $452,405 $269,400 $122,330 $60,675 $289,493 $120,476 $29,749 6.58% Total Residential Communities 78.21% 2,075 $765,605 $481,650 $219,461 $64,494 $357,426 $175,716 $54,728 7.15% Commercial Port Imperial Garage II Weehawken, NJ 100.00% - $25,321 $0 $25,321 $0 $23,170 $20,490 Q3 2014 Q4 2015 NA $1,618 6.39% Port Imperial Retail II Weehawken, NJ 100.00% - 4,479 0 4,479 0 3,962 3,496 Q3 2014 Q2 2016 NA 318 7.10% Commercial 100.00% $29,800 $0 $29,800 $0 $27,132 $23,986 $1,936 6.50% Total In-Construction Communities 79.03% 2,075 $795,405 $481,650 $249,261 $64,494 $384,558 $199,702 $56,664 7.12% Notes: (1) The loan commitments for these respective developments are scheduled to close in 4Q 2015. (2) Mack-Cali capital funding and loan closing occurred subsequent to quarter end. Development Schedule Project Capitalization - Total Capital as of 3Q-15

Financial Highlights- Predevelopment and Future Communities As of September 30, 2015 the company had a future development portfolio of approximately 10,900 apartments comprised of: Predevelopment (2,555 apartments): communities with likely starts through year-end 2016, including 595 apartments of repurposed developments Future Developments (5,600 apartments): Roseland owned/controlled future development sites Repurposing Candidates (2,750 apartments): upon formation of RRT, office holding transfers included residential development potential for 2,750 apartments 24 3Q 2015 Current Construction Projected Predevelopment Communities Location Apartments Ownership Start Costs PI South - Building 11 Weehawken, NJ 296 50.00% Q4 2015 $109,230 250 Johnson Road (repurposing) Morris Plains, NJ 188 100.00% Q4 2015 58,862 Freehold (1) Freehold, NJ 400 100.00% Q1 2016 95,041 Portside 5/6 (2) East Boston, MA 296 85.00% Q1 2016 113,586 Conshohocken Conshohocken, PA 294 100.00% Q2 2016 70,314 233 Canoe Brook Road (3) (repurposing) Short Hills, NJ 200 100.00% Q2 2016 63,000 Lofts at 40 Park Morristown, NJ 59 25.00% Q2 2016 16,845 PI North - Building C West New York, NJ 363 20.00% Q3 2016 152,000 Crystal House - III Arlington, VA 252 50.00% Q3 2016 79,565 150 Monument Road (repurposing) Bala Cynwyd, PA 207 100.00% Q3 2016 48,993 Predevelopment Communities 2,555 $807,436 Notes: (1) The Company has a signed agreement to acquire this land, subject to certain conditions. (2) Prudential has an option to participate in East Boston Parcels 5 and 6, under similar terms as Parcel 7. (3) Target approvals will likely also include approximately 225 hotel keys.

Financial Highlights- Predevelopment and Future Communities The build-out of Predevelopment Communities is projected to generate approximately $220 million in project value: At year-end 2016, Roseland will have a remaining land portfolio including sites to be transferred upon formation of RRT of 8,346 apartments: 25 3Q 2015 Value Creation Summary Projected Average Yield 6.37% Projected NOI $51,395 Gross Value @ 5.00% Cap $1,027,900 Less: Projected Costs (807,436) Net Value Creation @ 100% $220,464 Current Projected Approved / Future Developments Location Apartment Ownership Const Start Entitled Liberty Landing Phase I Jersey City, NJ 265 50.00% 2017 partial Worcester - II Worcester, MA 128 100.00% 2017 fully San Remo Jersey City, NJ 250 33.00% 2017 partial Portside 1-4 East Boston, MA 160 85.00% 2017 none Overlook IIIC Malden, MA 252 100.00% 2017 partial PI South - Building 8/9 Weehawken, NJ 275 50.00% 2017 partial URL ® Harborside - Future Jersey City, NJ 1,500 85.00% 2017 partial Repurposing Pursuits (1-3) New Jersey 750 100.00% Future partial PI North - Building J West New York, NJ 141 20.00% Future partial PI North - Building I West New York, NJ 224 20.00% Future partial PI North - Riverbend 6 West New York, NJ 471 20.00% Future partial PI South - Building 16 Weehawken, NJ 131 50.00% Future partial PI South - Building 2 Weehawken, NJ 200 50.00% Future partial PI South - Park Parcel Weehawken, NJ 224 50.00% Future partial PI South - Office 1/3 Weehawken, NJ N/A 50.00% Future partial Overlook IIIA Malden, MA 445 100.00% Future partial Overlook IV Malden, MA 45 100.00% Future partial Crystal House - Future Arlington, VA 300 50.00% Future partial Liberty Landing - Future Jersey City, NJ 585 50.00% Future partial Office Holding Transfers Northeast 2,000 Future Future Developments 8,346

Capitalization Details (As of September 30, 2015) 26 3Q 2015 Third Outstanding Maximum Maturity Interest MCRC Party Return Apartments Ownership Balance Balance Date Rate Capital Capital Rate Notes / Comments Operating Communities Consolidated Communities Alterra at Overlook Ridge 722 100.00% $0 $0 $0 $0 Park Square 159 100.00% 27,500 27,500 4/10/2019 L + 1.75% 0 0 Riverwatch 200 100.00% 0 0 0 0 Andover Place 220 100.00% 0 0 0 0 Consolidated Communities 1,301 100.00% $27,500 $27,500 $0 $0 Joint Ventures Crystal House 798 25.00% $165,000 $165,000 4/1/2020 3.17% $25,870 $77,611 For IRR calc. purposes (2) RiverPark at Harrison 141 45.00% 30,000 30,000 8/1/2025 3.70% 1,615 2,093 approximates to JV ownership % Station House 378 50.00% 94,671 100,700 7/1/2033 4.82% 0 0 NA - heads up 50/50 venture Joint Ventures 1,317 34.32% $289,671 $295,700 $27,485 $79,704 Commercial Port Imperial Garage I 43.75% $32,600 $32,600 12/1/2029 4.78% $531 $4,563 (3) Port Imperial Retail I 43.75% 4,000 4,000 12/1/2021 4.41% 0 0 (3) Commercial 43.75% $36,600 $36,600 $531 $4,563 Total - Operating Communities 2,618 $353,771 $359,800 $28,016 $84,267 Subordinate Interests * Marbella 412 24.27% $95,000 $95,000 5/1/2018 4.99% $125 $7,567 9.50% (4) Monaco 523 15.00% 165,000 165,000 2/1/2021 4.19% 0 82,736 9.00% RiversEdge at Port Imperial 236 50.00% 57,500 57,500 9/1/2020 4.32% 0 43,153 9.00% RiverTrace at Port Imperial 316 25.00% 79,380 80,249 7/15/2021 6.00% 0 45,932 7.75% The Estuary 582 7.50% 210,000 210,000 3/1/2030 4.00% 0 19,175 8.50% Metropolitan at 40 Park 130 12.50% 38,600 38,600 9/1/2020 3.25% 695 21,050 9.00% (5) The Chase at Overlook Ridge 371 50.00% 52,662 55,500 12/26/2015 L + 2.50% 0 26,181 6.50% (6) Portside at Pier One - 7 176 38.25% 42,336 42,500 12/4/2015 L + 2.50% 0 29,160 9.00% RiverParc at Port Imperial 280 20.00% 69,916 73,350 6/27/2016 L + 2.15% 2,349 53,803 9.00% (7) Shops at 40 Park 12.50% 6,489 6,500 8/13/2018 3.63% 0 0 (5) Riverwalk at Port Imperial - 20.00% 0 0 0 6,236 9.00% Total - Subordinate Interests 3,026 24.59% $816,883 $824,199 $3,169 $334,993 Capital Balance Overview Priority Capital and Preferred Balances (1) Project Debt

Capitalization Details - 2 (As of September 30, 2015 27 3Q 2015 Third Outstanding Maximum Maturity Interest MCRC Party Return Apartments Ownership Balance Balance Date Rate Capital Capital Rate In-Construction Communities Consolidated Quarry Place at Tuckahoe 108 76.25% $6,568 $28,750 3/30/2017 L + 2.35% $15,384 $771 8.00% Port Imperial Hotels 364 90.00% 0 94,000 10/5/2018 L + 4.5% 0 0 The Chase II 292 100.00% 0 0 0 0 Worcester - I 237 100.00% 0 0 0 0 Consolidated Communities 1,001 93.80% $6,568 $122,750 $15,384 $771 Joint Ventures Marbella 2 311 24.27% $63,627 $77,400 3/30/2017 L + 2.25% $12,671 $39,802 9.00% URL ® Harborside - I 763 85.00% 22,916 192,000 8/1/2029 5.20% 0 0 Joint Ventures 1,074 67.41% $86,543 $269,400 $12,671 $39,802 Commercial Port Imperial Garage II - 100.00% $0 $0 $0 $0 Port Imperial Retail II - 100.00% 0 0 0 0 Commercial 100.00% $0 $0 $0 $0 Total - In-Construction Communities 2,075 $93,111 $392,150 $28,055 $40,573 Future Developments Lofts at 40 Park 59 25.00% $1,117 $1,117 9/30/2016 L + 2.50% $0 $1,105 - PI North - Building C 363 20.00% 0 0 456 28,618 10.00% Port Imperial North 836 20.00% 0 0 4,985 57,733 - Port Imperial South 1,126 50.00% 44,771 45,100 11/18/2015 L + 1.75% 14,582 0 Prime + 8.00% (8) Future Development 8,517 76.96% 0 0 0 0 (9) Total - Future Developments 10,901 67.63% $45,888 $46,217 $20,023 $87,456 Total Portfolio 18,620 $1,309,653 $1,622,366 $79,263 $547,289 Notes: (3) Excludes non interest bearing land capital accounts to Port Imperial South, L.L.C. in the amount of $6 million. Roseland's participation is approximately $2.7 million. (5) Equity Capital balances apply to Metropolitan at 40 Park and Shops at 40 Park. The MCRC balance represents capital account held by Rosewood Epsteins, L.L.C., of which the Company owns a 50 percent interest. (6) Overlook Apartments Investors entered into an interest rate swap agreement with a commercial bank. The swap agreement fixes the all-in rate to 3.0875 percent per annum thru November 2, 2015. Project Debt (9) Represents average ownership in Future Development land holdings. (7) PruRose 13 entered into an interest rate swap agreement with a commercial bank. The swap agreement fixes the all-in rate to 2.79 percent per annum for the period thru January 1, 2016. (8) Represents Member Loan Balance and accrued unpaid interest. Subsequent to quarter-end, upon the closing of the Hotel Loan, the loan balance was amortized to approximately $3.8 million. Capital Balance Overview * Ownership represents Company participation after satisfaction of Priority Capital. (1) Includes outstanding preferred returns, where applicable. (2) Upon a capital event, the Company receives a promoted additional 25 percent interest over a 9.00 percent IRR to heads-up capital accounts. (4) The MCRC Balance represents capital account held by Marbella Rosegarden, L.L.C., of which the Company owns a 48.53 percent interest.

2016 Highlights 28 3Q 2015 Portfolio: Construction start activities in Q4 2015 and 2016 of approximately 2,600 apartments will produce a target operating and in-construction portfolio at year-end 2016 of 10,274 apartments: Capital: The company projects total capital requirements for this 2,600 apartment portfolio growth will be approximately $807 million. Roseland’s share of capital, after accounting for construction financing and committed joint venture equity, will be approximately $151 million* with projected average ownership of approximately 62.5%. As such, the Company’s total 2016 capital commitments are: Category In Construction Portfolio – Remaining Commitment 4Q 2015 and 2016 Starts* Less: Land / Other Receivables Total Amount ($M) $49 151 (25) $175 * Approximately $30 million to be spent in 2017.

Definitions 29 3Q 2015 Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended June 30, 2015, divided by the average percent occupied for the quarter ended June 30, 2015, divided by the number of units and divided by 3 Percentage Leased: The percentage of units that are either currently occupied or vacant units leased for future occupancy. Consolidated Operating Communities: Wholly owned communities and communities whereby the Company has a controlling interest. Predevelopment Communities: Communities where the Company has commenced predevelopment activities that have a near-term projected project start. Future Development: Represents land inventory currently owned or controlled by the Company. Project Completion: As evidenced by a certificate of completion by a certified architect or issuance of a final or temporary certificate of occupancy. In-Construction Communities: Communities that are under construction and have not yet commenced initial leasing activities. Project Stabilization: Lease-Up communities that have achieved over 95 Percent Leased for six consecutive weeks. Lease-Up Communities: Communities that have commenced initial operations but have not yet achieved Project Stabilization. Projected Stabilized NOI: Pro forma NOI for Lease-Up, In-Construction or Future Development communities upon achieving Project Stabilization. Joint Ventures: Joint ventures in which the Company invests capital alongside Joint Venture partners with contributions made in proportion to each member's ownership percentage. Projected Stabilized Yield: Represents Projected Stabilized NOI divided by Total Costs. MCRC Capital: Represents cash equity that the Company has contributed or has a future obligation to contribute to a project. Repurposing Communities: Commercial holdings of the Company which have been targeted for rezoning from their existing office to new multi-family use and have a likelihood of achieving desired rezoning and project approvals. Net Asset Value (NAV): We consider NAV to be a useful metric for investors to estimate the fair value of the Roseland platform. The metric represents the net projected value of the Company’s interest after accounting for all priority debt and equity payments. The metric includes capital invested by the Company. Subordinated Joint Ventures: Joint Venture communities where the Company's ownership distributions are subordinate to payment of priority capital preferred returns Net Operating Income (NOI): Total property revenues less real estate taxes, utilities and operating expenses. Third Party Capital: Capital invested other than MCRC Capital. Operating Communities: Communities that have achieved Project Stabilization. Total Costs: Represents full project budget, including land and developer fees, and interest expense through Project Completion.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS We consider portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “continue” or comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which we cannot predict with accuracy and some of which we might not even anticipate. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, we can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Among the factors about which we have made assumptions are: -risks and uncertainties affecting the general economic climate and conditions, which in turn may have a negative effect on the fundamentals of our business and the financial condition of our tenants and residents; -the value of our real estate assets, which may limit our ability to dispose of assets at attractive prices or obtain or maintain debt financing secured by our properties or on an unsecured basis; -the extent of any tenant bankruptcies or of any early lease terminations; -our ability to lease or re-lease space at current or anticipated rents; -changes in the supply of and demand for our properties; -changes in interest rate levels and volatility in the securities markets; -our ability to complete construction and development activities on time and within budget, including without limitation obtaining regulatory permits and the availability and cost of materials, labor and equipment; -forward-looking financial and operational information, including information relating to future development projects, potential acquisitions or dispositions, and projected revenue and income; -changes in operating costs; -our ability to obtain adequate insurance, including coverage for terrorist acts; -our credit worthiness and the availability of financing on attractive terms or at all, which may adversely impact our ability to pursue acquisition and development opportunities and refinance existing debt and our future interest expense; -changes in governmental regulation, tax rates and similar matters; and -other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants or residents will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact us and the statements contained herein, see Item 1A: Risk Factors in MCRC’s Annual Report on Form 10-K for the year ended December 31, 2014. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Mack-Cali Reality Corporation (“MCRC”). Any offers to sell or solicitations of the MCRC shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Quarterly on Form 10-Q (the “10-Q”) filed by the MCRC for the same period with the Securities and Exchange Commission (the “SEC”) and all of the MCRC’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-Q and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification. 30 3Q 2015

3Q 2015

Exhibit 99.3

M A C K — C A L I R E A L T Y C O R P O R A T I O N

For Immediate Release

MACK-CALI REALTY CORPORATION

ANNOUNCES THIRD QUARTER RESULTS

· Core FFO Per Diluted Share, Which Excludes Certain Items, was $0.48 for The Quarter; -

· Company Increases Guidance For 2015 and Provides Preliminary 2016 Outlook -

Edison, New Jersey—October 28, 2015—Mack-Cali Realty Corporation (NYSE: CLI) today reported its results for the third quarter 2015.

Recent highlights include:

· Funds from operations (FFO) per diluted share of $0.51 for the quarter and $1.41 for the nine months 2015;

· Reported 85.8 percent leased at quarter end, an increase of 3.5 percent over second quarter;

· Reported net loss of $1.42 per diluted share due to impairment charge for contemplated sales;

· Topped off URL® Harborside Tower 1, a 763-unit apartment building, with expected lease up by year end 2016;

· Commenced the disposition activities of $700 to $800 million of asset sales;

· Signed definitive agreements to acquire two properties in New Jersey a 196,000 square-foot office building located in Edison and a 147,000 square-foot office building located in Parsippany;

· Raised full year 2015 guidance range to $1.83 to $1.87 per diluted share;

· Introduced preliminary 2016 guidance of $2.00 - $2.10 per diluted share;

· Declared $0.15 per share quarterly common stock dividend; and

· Engaged Eastdil Secured to explore raising common equity for the to be formed Roseland Residential Trust.

“We continue to make progress on our ongoing repositioning efforts as we work to transform Mack-Cali. In our third quarter we put in place our plans to divest between $700 to $800 million of non-core assets, while selectively adding complimentary assets that we expect will contribute to earnings as we move ahead. The Company is re-reenergized by the numerous opportunities to enhance our office portfolio and to profitably expand our multi-family platform. While this will take time we are excited that process is underway and that our team’s efforts should result in the creation of sustained cash-flow and earnings in the coming years as we look to build additional value for our shareholders”, said Michael J. DeMarco, president.

FINANCIAL HIGHLIGHTS

* All per share amounts presented below are on a diluted basis.

Funds from operations (FFO) for the quarter ended September 30, 2015 totaled $51.5 million, or $0.51 per share, as compared to $48.0 million, or $0.48 per share, for the quarter ended September 30, 2014. For the nine months ended September 30, 2015, FFO equaled $141.1 million, or $1.41 per share, as compared to $128.5 million, or $1.29 per share, for the same period last year.

For the current quarter compared to the prior year, the increase in FFO per share resulted primarily from $0.03 of equity in earnings from refinancing proceeds received from a joint venture; increased net real estate tax appeal proceeds of $0.02; partially offset by $0.02 in increased general and administrative expense due to separation costs in the current quarter. This results in Core FFO per diluted share for the current quarter of $0.48 versus $0.48 for the prior year period.

Net income (loss) available to common shareholders for the quarter ended September 30, 2015 amounted to $(126.9)

million, or $(1.42) per share, as compared to $2.0 million, or $0.02 per share, for the quarter ended September 30, 2014.

For the nine months ended September 30, 2015, net income (loss) available to common shareholders equaled $(94.0) million, or $(1.05) per share, as compared to $37.8 million, or $0.43 per share, for the same period last year. Included in net loss for the quarter and nine months ended September 30, 2015 was $164.2 million of impairment charges taken during the third quarter on properties the Company intends to sell as part of its recently-announced strategic initiative.

Total revenues for the third quarter 2015 were $146.2 million, as compared to $155.5 million for the third quarter 2014. For the nine months ended September 30, 2015, total revenues amounted to $448.4 million, as compared to $485.4 million for the same period last year.

OPERATING HIGHLIGHTS

Mack-Cali’s consolidated commercial in-service portfolio was 85.8 percent leased at September 30, 2015, as compared to 82.3 percent leased at June 30, 2015.

Mitchell E. Rudin, chief executive officer, commented “Operationally, we had an excellent quarter and have launched a number of value-creating initiatives. This quarter marks the beginning a long-term effort to deliver enhanced and sustained returns for our shareholders.”

RECENT TRANSACTIONS

In September, the Company announced the topping out of URL® Harborside 1 at 713 feet, making the new multi-family tower on the Jersey City waterfront the tallest residential building in New Jersey. URL® Harborside 1 is a uniquely-designed, 69-story residential tower that will add 763 contemporary rental residences to Mack-Cali’s Harborside on the Jersey City waterfront.

DISPOSITIONS

In September 2015, the Company announced a comprehensive three-year strategic initiative to transform the Company into dual-platform owner of waterfront and transit-oriented office properties and a regional owner of luxury multi-family properties. As part of its increased focus on “Gold Coast” waterfront properties in Jersey City Weehawken, Hoboken, and West New York, the Company identified approximately $700 million to $800 million of non-core assets that it intends to sell to help fund its capital plan and transformation.

During the three months ended September 30, 2015, the Company transferred the deeds for two of its office properties to the lender in satisfaction of its mortgage loan obligations. In the three and nine months ended September 30, 2015, the Company recorded gains on the disposal of office properties of $18.7 million and $28.4 million, respectively.

As a result of identifying the non-core assets for sale, the Company evaluated the recoverability of the carrying values of these properties, and determined that due to the shortening of the expected periods of ownership, it was necessary to reduce the carrying values of 22 rental properties to their estimated fair values. Accordingly, the Company recorded an impairment charge of $158.6 million at September 30, 2015.

In addition, the Company estimated that the carrying value of three mortgaged properties, aggregating 479,877 square feet and located in Roseland and Parsippany, New Jersey, may not be recoverable over their anticipated holding periods and recorded impairment charges of $5.6 million at September 30, 2015.

BALANCE SHEET/CAPITAL MARKETS

As of September 30, 2015, the Company had total indebtedness of approximately $2.0 billion, with a weighted average annual interest rate of approximately 5.4 percent and a debt-to-undepreciated assets ratio of 37.6 percent. The Company had an interest coverage ratio of 3.1 times and 2.8 times for the quarter and nine months ended September 30, 2015, respectively.

DIVIDENDS

In September, the Company’s Board of Directors declared a cash dividend of $0.15 per common share (indicating an annual rate of $0.60 per common share) for the third quarter 2015, which was paid on October 15, 2015 to shareholders of records as of October 5, 2015.

GUIDANCE/OUTLOOK

Based on recent results and recently announced strategic initiatives, the Company is revising its guidance on net income and FFO per diluted share for the full year 2015 and providing preliminary 2016 guidance, as follows:

	Full Year	Full Year
	2015 Range	2016 Range
Net income available to common shareholders	$ (1.12) - $ (1.08)	$ 0.08 - $ 0.18
Add: Impairments	1.64	-
Real estate-related depreciation and amortization on continuing operations	1.90	1.92
Deduct: Realized (gains) losses and unrealized losses on disposition of rental property, net	(0.53)	-
Gain on sale of investment in unconsolidated joint ventures	(0.06)	-
Funds from operations	$ 1.83 - $ 1.87	$ 2.00 - $ 2.10

These estimates reflect management’s view of current market conditions and certain assumptions with regard to rental rates, occupancy levels and other assumptions/projections. Actual results could differ from these estimates.

CONFERENCE CALL/SUPPLEMENTAL INFORMATION

An earnings conference call with management is scheduled for October 29, 2015 at 10:00 a.m. Eastern Time, which will be broadcast live via the Internet at:

http://phoenix.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=96021&eventID=5207843

The live conference call is also accessible by calling (719) 325-2362 and requesting the Mack-Cali conference call. The conference call will be rebroadcast on Mack-Cali’s website at https://www.mack-cali.com/investors/events beginning at 2:00 p.m. Eastern Time on October 29, 2015 through November 5, 2015.

A replay of the call will also be accessible during the same time period by calling (719) 457-0820 and using the pass code 1196434.

Copies of Mack-Cali’s Form 10-Q and Supplemental Operating and Financial Data are available on Mack-Cali’s website, as follows:

Third Quarter 2015 Form 10-Q:

https://www.mack-cali.com/media/799385/3rdquarter10q15.pdf

Third Quarter 2015 Supplemental Operating and Financial Data:

https://www.mack-cali.com/media/799388/3rdquartersp15.pdf

Third Quarter 2015 Supplemental Operating and Financial Data for Roseland Residential Platform:

https://www.mack-cali.com/media/799391/3rdquartersp15Roseland.pdf

In addition, these items are available upon request from:

Mack-Cali Investor Relations Department - Deidre Crockett

343 Thornall Street, Edison, New Jersey 08837-2206

(732) 590-1025

INFORMATION ABOUT FFO

ABOUT THE COMPANY

Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its two-platform operations of waterfront and transit-based office and luxury multi-family. Mack-Cali owns or has interests in 274 properties, consisting of 146 office and 109 flex properties totaling approximately 29.7 million square feet and 19 multi-family rental properties containing approximately 5,700 residential units and a pipeline of approximately 11,000 units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.

Additional information on Mack-Cali Realty Corporation and the commercial real estate properties and multi-family residential communities available for lease can be found on the Company’s website at www.mack-cali.com.

The information in this press release must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the “10-Q”) filed by the Company for the same period with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q and the Public Filings.

Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Disclosure Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Reports on Form 10-K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.

Contact:	Michael J. DeMarco	Anthony Krug	Deidre Crockett
	President	Chief Financial Officer	Director of Investor Relations
	(732) 590-1589	(732) 590-1030	(732) 590-1025

Mack-Cali Realty Corporation

Consolidated Statements of Operations

(In thousands, except per share amounts) (unaudited)

	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
REVENUES
Base rents	$	119,707		$	125,793		$	364,746		$	393,054
Escalations and recoveries from tenants	15,050			19,172			49,291			61,736
Real estate services	7,510			7,622			22,555			21,323
Parking income	2,749			2,255			8,141			6,605
Other income	1,142			647			3,707			2,667
Total revenues	146,158			155,489			448,440			485,385

EXPENSES
Real estate taxes	19,143			22,154			63,005			69,880
Utilities	13,172			15,701			44,146			58,555
Operating services	24,535			26,519			78,607			83,581
Real estate services expenses	6,673			6,933			19,520			20,213
General and administrative	13,670			12,665			36,669			49,219
Depreciation and amortization	44,099			41,983			127,266			131,679
Impairments	164,176			—			164,176			—
Total expenses	285,468			125,955			533,389			413,127
Operating income (loss)	(139,310		)	29,534			(84,949		)	72,258

OTHER (EXPENSE) INCOME
Interest expense	(24,689		)	(27,353		)	(78,677		)	(85,458		)
Interest and other investment income	5			908			563			2,216
Equity in earnings (loss) of unconsolidated joint ventures	3,135			(1,268		)	(2,723		)	(2,060		)
Realized gains (losses) on disposition of rental property, net	18,718			264			53,261			54,848
Gain on sale of investment in unconsolidated joint ventures	—			—			6,448			—
Total other (expense) income	(2,831		)	(27,449		)	(21,128		)	(30,454		)
Net income (loss)	(142,141		)	2,085			(106,077		)	41,804
Noncontrolling interest in consolidated joint ventures	(281		)	145			582			757
Noncontrolling interest in Operating Partnership	15,530			(248		)	11,461			(4,754		)
Net income (loss) available to common shareholders	$	(126,892	)	$	1,982		$	(94,034	)	$	37,807

Basic earnings per common share:
Net income (loss) available to common shareholders	$	(1.42	)	$	0.02		$	(1.05	)	$	0.43

Diluted earnings per common share:
Net income (loss) available to common shareholders	$	(1.42	)	$	0.02		$	(1.05	)	$	0.43

Basic weighted average shares outstanding	89,249			88,875			89,229			88,621

Diluted weighted average shares outstanding	100,172			100,052			100,236			100,014

Mack-Cali Realty Corporation

Statements of Funds from Operations

(in thousands, except per share/unit amounts) (unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2015			2014			2015			2014
Net income (loss) available to common shareholders	$	(126,892	)	$	1,982		$	(94,034	)	$	37,807
Add (deduct): Noncontrolling interest in Operating Partnership	(15,530		)	248			(11,461		)	4,754
Real estate-related depreciation and amortization on continuing operations (a)	48,503			46,071			142,168			140,810
Impairments	164,176			—			164,176			—
Deduct: Realized (gains) losses and unrealized losses on disposition of rental property, net	(18,718		)	(264		)	(53,261		)	(54,848		)
Gain on sale of investment in unconsolidated joint ventures	—			—			(6,448		)	—
Funds from operations available to common shareholders (b)	$	51,539		$	48,037		$	141,140		$	128,523

Diluted weighted average shares/units outstanding (c)	100,172			100,052			100,236			100,014

Funds from operations per share/unit-diluted	$	0.51		$	0.48		$	1.41		$	1.29

Dividends declared per common share	$	0.15		$	0.15		$	0.45		$	0.60

Dividend payout ratio:
Funds from operations-diluted	29.15		%	31.24		%	31.96		%	46.69		%

Supplemental Information:
Non-incremental revenue generating capital expenditures:
Building improvements	$	5,631		$	8,010		$	20,193		$	13,263
Tenant improvements and leasing commissions (d)	$	7,808		$	8,885		$	19,217		$	33,220
Straight-line rent adjustments (e)	$	1,419		$	998		$	1,336		$	5,187
Amortization of (above)/below market lease intangibles, net (f)	$	127		$	320		$	552		$	902
Acquisition transaction costs (h)	—			—			—			$	1,943
Net effect of unusual electricity rate spikes (g)	—			—			—			$	4,845
Executives severance costs (h)	—			—			—			$	11,044

(a)	Includes the Company’s share from unconsolidated joint ventures of $4,845 and $4,181 for the three months ended September 30, 2015 and 2014, respectively, and $15,828 and $9,396 for the nine months ended September 30, 2015 and 2014, respectively. Excludes non-real estate-related depreciation and amortization of $238 and $93 for the three months ended September 30, 2015 and 2014, respectively, and $723 and $265 for the nine months ended September 30, 2015 and 2014, respectively.
(b)	Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO” in this release.
(c)	Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,923 and 11,120 shares for the three months ended September 30, 2015 and 2014, respectively, and 11,008 and 11,334 for the nine months ended September 30, 2015 and 2014, respectively), plus dilutive Common Stock Equivalents (i.e. stock options).
(d)	Excludes expenditures for tenant spaces that have not been owned for at least a year or were vacant for more than a year.
(e)	Includes the Company’s share from unconsolidated joint ventures of $138 and $12 for the three months ended September 30, 2015 and 2014, respectively, and $676 and $12 for the nine months ended September 30, 2015 and 2014, respectively.
(f)	Includes the Company’s share from unconsolidated joint ventures of $95 and $124 for the three months ended September 30, 2015 and 2014, respectively, and $333 and $372 for the nine months ended September 30, 2015 and 2014, respectively.
(g)	Approximately $10 million in utilities expense, net of approximately $5 million in escalations and recoveries from tenants related to such costs.
(h)	Included in general and administrative expense.

Mack-Cali Realty Corporation

Statements of Funds from Operations per Diluted Share

(amounts are per diluted share, except share counts in thousands) (unaudited)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2015			2014		2015			2014
Net income (loss) available to common shareholders	$	(1.42	)	$	0.02	$	(1.05	)	$	0.43
Add: Impairments	1.64			—		1.64			—
Real estate-related depreciation and amortization on continuing operations (a)	0.48			0.46		1.42			1.41
Deduct: Realized (gains) losses and unrealized losses on disposition of rental property, net	(0.19		)	—		(0.53		)	(0.55		)
Gain on sale of investment in unconsolidated joint ventures	—			—		(0.06		)	—
Noncontrolling interest/rounding adjustment	—			—		(0.01		)	—
Funds from operations (b)	$	0.51		$	0.48	$	1.41		$	1.29

Add: Net effect of unusual electricity rate spikes	—			—		—			$	0.05
Executives severance costs	—			—		—			0.11
Noncontrolling interests/rounding adjustment	—			—		—			(0.01		)
FFO excluding certain items	$	0.51		$	0.48	$	1.41		$	1.44

Diluted weighted average shares/units outstanding (c)	100,172			100,052		100,236			100,014

(a)	Includes the Company’s share from unconsolidated joint ventures of $0.05 and $0.04 for the three months ended September 30, 2015 and 2014, respectively, and $0.16 and $0.09 for the nine months ended September 30, 2015 and 2014, respectively.
(b)	Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (NAREIT). See “Information About FFO” in this release.
(c)	Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (10,923 and 11,120 shares for the three months ended September 30, 2015 and 2014, respectively, and 11,008 and 11,334 for the nine months ended September 30, 2015 and 2014, respectively), plus dilutive Common Stock Equivalents (i.e. stock options).

Mack-Cali Realty Corporation

Consolidated Balance Sheets

(in thousands, except per share amounts) (unaudited)

	September 30,			December 31,
	2015			2014
Assets
Rental property
Land and leasehold interests	$	706,122		$	760,855
Buildings and improvements	3,619,200			3,753,300
Tenant improvements	398,812			431,969
Furniture, fixtures and equipment	13,582			12,055
	4,737,716			4,958,179
Less — accumulated depreciation and amortization	(1,434,603		)	(1,414,305		)

Net investment in rental property	3,303,113			3,543,874
Cash and cash equivalents	30,866			29,549
Investments in unconsolidated joint ventures	299,486			247,468
Unbilled rents receivable, net	118,466			123,885
Deferred charges, goodwill and other assets, net	200,723			204,650
Restricted cash	40,068			34,245
Accounts receivable, net of allowance for doubtful accounts of $1,579 and $2,584	9,180			8,576

Total assets	$	4,001,902		$	4,192,247

Liabilities and Equity
Senior unsecured notes	$	1,268,568		$	1,267,744
Revolving credit facility	35,000			—
Mortgages, loans payable and other obligations	740,024			820,910
Dividends and distributions payable	15,582			15,528
Accounts payable, accrued expenses and other liabilities	136,673			126,971
Rents received in advance and security deposits	47,645			52,146
Accrued interest payable	27,413			26,937
Total liabilities	2,270,905			2,310,236
Commitments and contingencies

Equity:
Mack-Cali Realty Corporation stockholders’ equity:
Common stock, $0.01 par value, 190,000,000 shares authorized, 89,310,243 and 89,076,578 shares outstanding	893			891
Additional paid-in capital	2,565,143			2,560,183
Dividends in excess of net earnings	(1,070,456		)	(936,293		)
Total Mack-Cali Realty Corporation stockholders’ equity	1,495,580			1,624,781

Noncontrolling interests in subsidiaries:
Operating Partnership	180,691			202,173
Consolidated joint ventures	54,726			55,057
Total noncontrolling interests in subsidiaries	235,417			257,230

Total equity	1,730,997			1,882,011

Total liabilities and equity	$	4,001,902		$	4,192,247

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