The locally based REIT also revealed its second-quarter financial results during a conference call late last week. For the quarter, FFO available to common shareholders amounted to $55.3 million, or 60 cents per share. For the year, FFO was $274.8 million, or $3.11 per share. Total revenues for the fourth quarter of 2009 were $194.9 million, up from $193.6 million in Q3. For the year, the REIT raked in $764.5 million.

Mack-Cali's portfolio was 90.1% leased at the end of the quarter, up from 90% at the end of Q3, but down slightly from a 90.6% occupancy at the end of the second quarter. "We are pleased to end the year with a stabilized occupancy rate of 90.1%," says Mack-Cali president and CEO Mitchell E. Hersh. "This success is a testament to our commitment to the highest levels of service for our tenants in our premier properties. While we anticipate a period of continued economic uncertainty, we have positioned Mack-Cali well as the landlord of choice in the regions in which we operate and to be poised to take advantage of opportunities as they emerge."

To that end, the company refinanced its $150 million secured loan with the Prudential Insurance Co. of America last month. The new loan also includes VPCM, LLC, a wholly-owned subsidiary of the Virginia Retirement System, as co-lender. The mortgage loan--which is collateralized by seven properties--is for a seven-year term and carries an effective interest rate of 6.25%.