Financial Highlights- In-Construction Communities 23 3Q 2015 Third Projected Projected Apartment Total MCRC Party Total MCRC Initial Project Stabilized Stabilized Community Location Ownership Homes/Keys Costs Debt Capital Capital Costs Capital Start Occupancy Stabilization NOI Yield Consolidated Quarry Place at Tuckahoe Eastchester, NY 76.25% 108 $49,950 $28,750 $20,941 $259 $22,692 $13,500 Q1 2014 Q2 2016 Q1 2017 $3,448 6.90% Marriott Hotels @ Port Imperial (2) Weehawken, NJ 90.00% 364 129,600 94,000 32,040 $3,560 30,300 27,270 Q3 2015 Q4 2017 Q2 2018 13,000 10.03% The Chase II at Overlook Ridge (1) Malden, MA 100.00% 292 74,360 48,000 26,360 $0 11,234 11,234 Q3 2015 Q1 2017 Q1 2018 4,795 6.45% Worcester - I (1) Worcester, MA 100.00% 237 59,290 41,500 17,790 $0 3,707 3,236 Q3 2015 Q2 2017 Q2 2018 3,736 6.30% Consolidated 93.80% 1,001 $313,200 $212,250 $97,131 $3,819 $67,933 $55,240 $24,979 7.77% Joint Ventures Marbella 2 Jersey City, NJ 24.27% 311 $132,100 $77,400 $13,271 $41,429 $115,102 $11,417 Q3 2013 Q1 2016 Q4 2016 $8,470 6.41% URL ® Harborside - I Jersey City, NJ 85.00% 763 320,305 192,000 109,059 $19,246 174,391 109,059 Q4 2013 Q4 2016 Q3 2018 21,279 6.64% Joint Ventures 67.41% 1,074 $452,405 $269,400 $122,330 $60,675 $289,493 $120,476 $29,749 6.58% Total Residential Communities 78.21% 2,075 $765,605 $481,650 $219,461 $64,494 $357,426 $175,716 $54,728 7.15% Commercial Port Imperial Garage II Weehawken, NJ 100.00% - $25,321 $0 $25,321 $0 $23,170 $20,490 Q3 2014 Q4 2015 NA $1,618 6.39% Port Imperial Retail II Weehawken, NJ 100.00% - 4,479 0 4,479 0 3,962 3,496 Q3 2014 Q2 2016 NA 318 7.10% Commercial 100.00% $29,800 $0 $29,800 $0 $27,132 $23,986 $1,936 6.50% Total In-Construction Communities 79.03% 2,075 $795,405 $481,650 $249,261 $64,494 $384,558 $199,702 $56,664 7.12% Notes: (1) The loan commitments for these respective developments are scheduled to close in 4Q 2015. (2) Mack-Cali capital funding and loan closing occurred subsequent to quarter end. Development Schedule Project Capitalization - Total Capital as of 3Q-15
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