Mack-Cali Realty Corporation Provides Update on April 2020 Rent Payments
Mack-Cali Realty Corporation (CLI)
Last mack-cali realty corporation earnings: 2/26 07:36 pm
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Source: PR Newswire
JERSEY CITY, N.J., April 23, 2020 /PRNewswire/ -- 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.The Executive Order, issued on April 8, 2020, requires, among other things, the ceasing of physical operations of all non-essential construction, and for essential operating businesses 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 r
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