Mack-Cali Realty Corporation (NYSE: CLI) ("Mack-Cali" or the "Company") announced today that, due to the public health concerns associated with the ongoing coronavirus outbreak ("COVID-19") and to support the health and well-being of its stockholders, the location of the Company's 2020 Annual Meeting of Stockholders (the "Annual Meeting") has been changed. The previously announced date and time of the Annual Meeting (Wednesday, June 10, 2020 at 12:00 p.m., Eastern Time) will not change. However, the Annual Meeting will be held solely by remote communication, in a virtual-only format, and stockholders will not be able to attend the Annual Meeting in person at a physical location. As described in the proxy materials previously distributed by the Company in connection with the Annual Meeting, stockholders of record of our common stock as of the close of business on April 16, 2020, the record date, are entitled to participate in the Annual Meeting.

Mack-Cali Realty Corporation (NYSE: CLI) (the "Company" or "Mack-Cali") today announced that Michael J. DeMarco, Chief Executive Officer of Mack-Cali, has been invited to serve on New Jersey's Restart & Recovery Advisory Council. The council was formed by New Jersey Governor Phil Murphy to advise state leadership on economic matters impacted by the COVID-19 pandemic. In addition to focusing on issues related to the restarting of businesses in New Jersey, the council will also work on a framework to facilitate the long-term growth of the state's economy.

Mack-Cali Realty Corporation (NYSE: CLI) (the "Company" or "Mack-Cali") today announced its slate of nominees for election to the Mack-Cali Board of Directors at the Company's 2020 Annual Meeting of Stockholders (the "Annual Meeting").

Mack-Cali Realty Corporation (NYSE: CLI) today reported its results for the first quarter 2020.

Mack-Cali Realty Corporation (NYSE: CLI) today announced that it will release its first quarter 2020 earnings results after the market close on Wednesday, May 6, 2020 and will host its first quarter 2020 earnings conference call with management on Thursday, May 7, 2020 at 8:00 a.m., Eastern Time.

Mack-Cali Realty Corporation (NYSE: CLI) a waterfront centric office and residential property owner, today provided an update regarding rental collections for its office and residential portfolio, hotel and construction activities in light of New Jersey Governor Murphy's Executive Order 122 issued on April 8, 2020 and the COVID-19 pandemic. As of April 20, 2020, the Company collected approximately 90% and 96% of office and residential tenant rent for April 2020, respectively.

Mack-Cali Realty Corp. , a real estate investment trust focused on waterfront office and residential properties, said Thursday that it has collected 96% of residential tenant rent for April and 90% of office rent. The update is in light of New Jersey Gov. Phil Murphy's executive order earlier this month, in which non-essential construction was to ceased and essential businesses were to adopt aggressive social distancing and disinfection measures to combat the COVID-19 pandemic. "It is not known at this time whether the Governor's executive order will be extended and what, if any, impact it may have on future rent collections, and past performance and April 2020 rent collections to date are not indicative of future results," the company said in a statement. The stock, which was still inactive in premarket trading, has dropped 37.6% over the past three months, while the SPDR Real Estate Select Sector ETF has dropped 16.8% and the S&P 500 has declined 15.8%.

At Jersey City Medical Center (JCMC), hundreds of healthcare workers are on the frontline of treating patients affected by COVID-19, with many unable to return home because they don't want to get their families sick, have traveled from out-of-state to help, or simply don't have enough time to commute in between shifts. In an effort to help ease the burden of commuting for these individuals, Jersey City-based Mack-Cali Realty Corporation (NYSE: CLI) has donated 32 hotel rooms, meals, and parking at the Residence Inn Weehawken Port Imperial as well as $100,000 towards the hospital's Emergency Response Fund.

CLI earnings call for the period ending March 31, 2020.

Though Mack-Cali's (CLI) collection of a large part of rental receipts for April is encouraging, the coronavirus pandemic-related uncertainties remain a concern for future demand and rent payments.

Mack-Cali Realty Corp on Thursday named five new director candidates and said investment firm Bow Street Capital's plan to seize control of its board puts the real-estate investment trust at "tremendous risk" during the coronavirus outbreak. The new nominees are Jamie Behar, Michael Berman, Howard Roth, Gail Steinel and Lee Wielansky. Mack-Cali took the unusual step of not renominating four directors who were elected to the board last year after having been nominated by Bow Street.

Mack-Cali Realty Corporation (NYSE: CLI) ("Mack-Cali" or the "Company") today announced it has filed definitive proxy materials, including its definitive proxy statement and white proxy card, with the U.S. Securities and Exchange Commission in connection with Mack-Cali's Annual Meeting of Stockholders, scheduled for June 10, 2020 (the "Annual Meeting"). Mack-Cali shareholders of record as of the close of business on April 16, 2020 will be entitled to vote at the Annual Meeting.

Mack-Cali Realty Corporation (NYSE: CLI) ("Mack-Cali" or the "Company") today announced that it has mailed a letter to shareholders to outline the numerous steps the Mack-Cali Board of Directors has taken to welcome and work collaboratively with the directors elected following Bow Street Special Opportunities Fund XV, LP and certain of its affiliates' ("Bow Street") 2019 proxy contest. The letter also corrects the false claims Bow Street has attempted to use as grounds for their campaign for control of Mack-Cali and highlights the Bow Street nominees' conflicts of interest and affiliations with Bow Street, which call into question the nominees' ability to act as independent directors.

Mack-Cali (CLI) registers same-store cash NOI growth in Q1 but withdraws current-year outlook on the coronavirus crisis.

Q1 2020 Mack-Cali Realty Corp Earnings Call

When shareholders elected us to the Mack-Cali Board nearly a year ago, we looked forward to working collaboratively with the incumbent Directors to make thoughtful, strategic decisions in the best interests of the Company and its shareholders. Since then, despite our consistent efforts to serve as shareholder advocates, and offer new, truly independent perspectives on value creation, we have been excluded from strategic discussions and decision making. We were relegated to committee positions that were designed to be uninfluential, in a coordinated effort by CEO Michael J. DeMarco and lead independent director Alan Bernikow, to minimize our impact. Simply put, our views have been unwelcome and concerns we have raised were consistently ignored.

Investment firm Bow Street Capital said on Wednesday it wants to replace the chief executive of Mack-Cali Realty Corp, streamline the real-estate investment trust's residential assets and cut debt after its stock price tumbled 37% in the last year. Bow Street, which owns 4.5% of Mack-Cali's stock and won board seats last year, is back with a proposal to install more directors and a plan to improve operations. The investment firm wrote to shareholders on Wednesday that it is interviewing potential candidates to replace CEO Michael DeMarco and that several Bow Street director candidates have the necessary experience to become interim CEO.

Market forces rained on the parade of Mack-Cali Realty Corporation (NYSE:CLI) shareholders today, when the analysts...

Moody's Investors Service has downgraded Mack-Cali Realty, L.P.'s (Mack-Cali or the REIT) senior unsecured debt and corporate family ratings to B1 from Ba2 due to the increased risk that the planned disposition transactions will not be completed in a timely manner at the expected values such that the REIT's liquidity position and leverage metrics would weaken in the next few quarters. In the same rating action, Moody's has assigned a (P)B1 rating to the senior unsecured debt shelf, a (P)B2 to the subordinate debt shelf and a (P)B3 to Mack-Cali Realty Corporation's, the parent REIT, preferred shelf.

(Bloomberg) -- Four Mack-Cali Realty Corp. directors elected last year after a proxy fight with one of the company’s largest investors are going public with claims their views are being ignored as another boardroom battle comes to a head.The foursome is taking the unusual step of issuing a rebuke of the board’s old-guard majority, arguing they are disregarding concerns about the strategic direction of the real estate investment trust.Mack-Cali is again in the midst of a proxy fight with Bow Street LLC, which owns a 4.9% stake in the company. The four directors elected with Bow Street’s backing after lengthy proxy fight last year are joining a new slate of eight directors being nominated by the dissident shareholder, who is seeking to replace the bulk of the board.“Mack-Cali has dismissed us as instruments of Bow Street in an attempt to shift attention from the severe governance problems that have hobbled the company and denied value to its shareholders,” the group said in the statement set to be made public Friday, a copy of which was reviewed by Bloomberg. “This is blatantly false.”The four argue they are all fully independent, and that their sole purpose was to serve shareholders, provide proper oversight, and ensure that the company’s decisions were rooted in strong corporate governance.Mack-Cali has refused to include the four dissident directors on its own slate for re-election. A representative for the company, based in Jersey City, New Jersey, didn’t immediately respond to a request for comment.Strategic ProcessThe company has said it remains open to ways to maximize value for shareholders, including a potential sale. It has also said it plans to run a full strategic process after it executes on its current strategy of optimizing its portfolio.The dissident foursome -- Alan Batkin, Frederic Cumenal, MaryAnne Gilmartin and Nori Gerardo Lietz -- accuse the six legacy directors of putting a “rubber stamp” on decisions favored by Chief Executive Officer Mike DeMarco and lead director, Alan Bernikow, throughout their yearlong tenure.“We believe Mack-Cali’s greatest need is for even more oversight and a board composed of a majority of truly independent voices,” the group said. “Without this, nothing will change.”Chief among their concerns is that after a lengthy strategic review at the company last year, only one of a handful of recommendations put forth by a special committee of the board was implemented or made known to shareholders, according to people familiar with the matter. In addition, the decision to pursue a sale of the company’s suburban office portfolio was already in the works, said the people, who asked not to be identified because the matter is private.Stacked CommitteeA second committee formed to evaluate acquisition proposals was stacked with legacy directors, they said.Mack-Cali has defended itself against Bow Street’s accusations that it failed to adequately explore a potential sale. It argued that a proposal from the investment firm Rizk Ventures in December wasn’t credible and lacked the necessary financing. Mack-Cali has also denied Bow Street’s claims that at least four other prospective bidders expressed interest in the company since January as “outright lies.”The four directors said in their statement Friday that they have raised concerns about the board’s committee composition and objected to the company’s strategic direction.‘Left Suffering’“The company has accused us of wanting to conduct a ‘fire sale’ of Mack-Cali,” the group said. “Nothing could be further from the truth. Our only goal is to increase shareholder value. Sadly, over the past year, we have witnessed firsthand that Mack-Cali’s legacy directors do not adhere to these same principles, and, as a result, shareholders are left suffering.”Shareholders are scheduled to vote on the matter at the company’s annual general meeting on June 10. Mack-Cali’s shares have tumbled about 37% this year, underperforming the Bloomberg U.S. REIT index, which has shed around 22%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.