Concerning our results for the quarter, FFO for the first quarter of 2012 was $0.74 per diluted share. We had solid leasing activity totaling almost 1.1 million square feet of lease transactions including almost 3,000 square feet of new leases. Tenant retention was 61.5% of outgoing space. And we ended the quarter at 87.9% leased compared to last quarter's 88.3%. Rents rolled down in the quarter by 5.4% cash compared to last quarter's 7.2% cash and so we obviously saw an improvement there. Remaining lease for all of us for 2012 are 7.3% of base rent or roughly $45 million.
Our leasing cost for the quarter were approximately $3.85 per square foot compared to last quarter's $3.33 per square foot per year but obviously this figure varies depending on the type of deal, the length of the lease etcetera.
Relative to our activities, as previously announced during the quarter Mack Cali entered into a joint venture with Winthrop Realty Trust and we acquired a senior mezzanine loan position in the capital stack of a very high quality 1.7 million square foot office portfolio in Stanford Connecticut. We paid $40 million or $0.80 on a dollar. The loan has a face value of $50 million and is secured by the equity interest in a premier seven building portfolio containing almost 1.7 million square feet of class A office and 106 residential units totaling about 70,000 square feet. All of the assets are located in the Stanford Central Business district. We believe that this transaction will yield an attractive return while providing the opportunity to work with an exceptional partner in a significant portfolio. A portfolio that's right within our footprint in Fairfield County Connecticut.
Now turning to the leasing front, some notable transactions that we've outlined in our quarterly filings include the tower insurance company of New York, signing a new lease for 77,000 square feet at Harbor Financial Center Plaza II in Jersey City, Metropolitan Life Insurance Company signing three transactions totaling about 47,000 square feet. Those transactions encompass our tax corporate park in Harmsworth, 65 Jackson in Cranford and Mack Cali Center 4 in Paramus. We did another interesting transaction with a global engineering company that included an entire building at 228 Strawbridge Drive in Morristown and approximately 40,000 square feet at our Horizon Center in Hamilton New Jersey. Again in Jersey City, Lehman Brothers Holdings, the new global financial services firm, signed a lease for 33,000 square feet at our 101 Hudson Street, magnificent trophy building in Jersey City. This asset is now just under 90% leased. The (inaudible) County financial service firm Wells Fargo Advisors, signed a new lease for 29,000 feet in change at Mack Cali Center 6 in Paramus.
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