One of the founders of New Jersey-based real estate investment trust Mack-Cali Realty Corporation died Saturday.
John Cali, along with Edward Leshowitz and his brother Angelo, launched Cali Associates in 1949. The firm, which went public in 1994, owns about 280 buildings in the U.S. – mostly office properties, the Star-Ledger reported. Cali retired as the Mack-Cali chairman emeritus in 2003. William Mack was his replacement as chair and still serves in the role.
In August, the Mack family announced plans to launch Mack Real Estate Group, an investment and development company to be headquartered in New York City, as previously reported. AREA Property Partners co-founders William Mack and Richard Mack serve as the company’s chairman and CEO, respectively. [Star-Ledger] — Mark Maurer