That expiration is slated for 5:00 p.m. EST on Friday, November 14, 2008, "unless extended or earlier terminated," reads the statement. "Under certain circumstances…the operating partnership may terminate the offer before the expiration time. Any tendered notes may be withdrawn prior to, but not after, the expiration time and withdrawn notes may be re-tendered by a holder at any time prior to the expiration time."

Company officials say they expect to use cash and borrowings that are available under Mack-Cali's $775-million unsecured revolving credit facility to pay for the notes that are redeemed in response to the tender offer. The notes purchased via the offer are then expected to be cancelled.

"The operating partnership is making the tender offer only by, and pursuant to the terms of, the offer to purchase and the related letter of transmittal," reads the company's statement. "The tender offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction."