Mack-Cali Realty Corp. (
Q3 2011 Earnings Conference Call
October 27, 2011 10:00 ET
Mitchell Hersh – President and CEO
Barry Lefkowitz – EVP and CFO
Michael Grossman – EVP
Sloan Bohlen – Goldman Sachs
Jordan Saddler - Keybanc Capital Markets
Sheila McGrath – KBW
Michael Bilerman – Citi
Jamie Feldman – Bank of America/Merrill Lynch
Michael Knott – Green Street Advisors
Jim Sullivan – Cowen and Company
Good day everyone and welcome to the Mack-Cali Realty Corporation Third quarter 2011 Conference Call. Today’s call is being recorded. At this time, I would like to turn the call over to President and Chief Executive Officer, Mr. Mitchell Hersh. Please go ahead sir.
Thank you, operator. Good morning everyone and thank you all for joining Mack-Cali’s third quarter 2011 earnings conference call. With me today are Barry Lefkowitz, Executive Vice President and Chief Financial Officer and Michael Grossman, Executive Vice President.
On a legal note, I must remind everyone that certain information discussed on this call may constitute forward-looking statements within the meaning of the Federal Securities Law. Although we believe the estimates reflected in these statements are based on reasonable assumptions. We cannot give assurance that the anticipated results will be achieved. We refer you to our press release and annual and quarterly reports filed with the SEC for risk factors that could impact the Company.
First, I’d like to review some of our results and activities for the quarter and what we’re generally seeing in our market, then Barry will review our financial results and Michael give you an update on our leasing results. We had a solid quarter here at Mack-Cali. FFO for the third quarter were $0.73 per diluted share. As you’ve seen in the press release, we did have significant leasing activity during the quarter totaling almost $1.25 million square feet of lease transactions. There were 136 transactions of which approximately 300,000 square feet were new and the balances were renewals.