Veris Residential 8K Results of Operations and Financial Condition | VRE 28 Feb 17

Exhibit 99.2

Roseland Residential Trust Supplemental Operating and Financial Data Roseland Residential Trust Supplemental Operating and Financial Data 4Q 2016

2 Monaco 523 apartments operating M2 at Marbella 311 apartments operating Marbella 412 apartments operating Jersey City Waterfront

Index RRT Overview Company Overview NAV Breakdown 2017 Objectives Portfolio Summary RRT Financial Schedules Balance Sheet Income Statement Liability Overview Community Highlights Operating In-Construction Predevelopment and Future Development 3 Q4 2016 Quarry Place at Tuckahoe Monaco

Roseland Residential Trust Overview Q4 2016

The Company- Roseland Residential Trust 5 Q4 2016 Roseland Residential Trust (RRT or Roseland), Mack-Cali’s multi-family platform and a premier full-service residential and mixed-use developer along the waterfront and select markets in the Northeast with an industry-leading reputation for successful conception, execution, and management of class A residential developments RRT has a scalable and integrated business platform. RRT oversees operating and in-construction assets (8,677 units), a geographically desirable land portfolio (10,340 units), sourcing of new development and acquisition opportunities, and repurposing activities RRT was formed on December 31, 2015 as a separate subsidiary of Mack-Cali to further facilitate disclosures, transparency, and capital flexibility of the residential platform. RRT contains all of Mack-Cali’s residential holdings, including office assets with likely residential repurposing potential RRT is governed by a Board of Directors consisting of: William Mack, David Mack, Michael DeMarco, Mitchell Rudin, and Marshall Tycher RRT’s executive leadership, a cohesive team since 2003, has an average experience of 18 years at Roseland and 27 years in the industry: Marshall Tycher Founder & Chairman Michael DeMarco Chief Executive Officer Andrew Marshall President & Chief Operating Officer Ivan Baron Chief Legal Counsel Bob Cappy Chief Financial Officer Gabriel Shiff Chief Investment Officer Brenda Cioce President, Roseland Residential Services Subsequent to year-end, Roseland reached an agreement with The Rockpoint Group, L.L.C., to invest $300mm in equity to facilitate the continued expansion of RRT (see page 10)

Roseland Market and Portfolio Overview- Management’s Discussion & Objectives 6 Q4 2016 RRT manages a growing portfolio of owned, under construction, and future development assets on the New Jersey Waterfront, Boston, Philadelphia and Washington D.C. with the remaining holdings primarily in suburban locations in high income areas in New Jersey. RRT is well positioned to benefit from the demographics and shortage of new class A housing in these markets, with fundamentals and macroeconomic trends in our core geographies continuing to show strength. Rents in our primary sub-markets, markets fueling much of our development activity, have continued to grow over the last year: Jersey City at 2.05% and Overlook Ridge at 4.96% Jersey City Market Performance: In 2016, M2 in Jersey City showed strength having absorbed approximately 50 apartments/month, stabilizing in November 2016. Further, rents increased from original underwriting levels of $41/SF to a current schedule of $49/SF. We opened Urby at Harborside and anticipate similar marketplace absorption. Subsequent to year-end RRT increased its ownership in land holding of Plaza 8 & 9 from 50% to 100% Subsequent to year-end RRT reached an agreement to acquire partners’ interest in Monaco, increasing its ownership from 15% to 100% Competitive Portfolio Metrics: Roseland’s high-barrier-to-entry class A portfolio is at the forefront of characteristics supportive of market-leading property valuations and comparable/superior to leading publicly traded residential REITs: (i) top in market rents: Average revenue per unit of $2,706 (ii) young, and trending lower, average building age: Average age of 11 years (iii) geographically concentrated in northeast gateway markets: Approximately 87% of the assets are in a gateway market with average Percentage Leased of 96.3% Target Portfolio: RRT targets approximately 12,455 operating and in-construction apartments by year-end 2018. This growth of approximately 3,800 apartments will be achieved through completion of its in-construction portfolio and new development activities from Roseland’s valuable land holdings

Portfolio Overview- Net Asset Value (NAV) Summary At year-end 2016 Roseland had an approximate NAV of $1.35bn Status: Roseland’s 8,677 unit Operating and In-Construction portfolio contributes 81% of NAV In-Construction Assets: RRT’s In-Construction portfolio (average ownership of 93.6%) currently contributes approximately $321mm of NAV with expected growth to over $600mm NAV upon stabilization 7 Q4 2016 Notes: Breakdown excludes $572mm of discounts to JV Partner and Roseland value for assets currently under construction or renovation. Roseland year-end NAV represents a valuation midpoint between $1.28bn and $1.42bn. Marriott Hotels at Port Imperial Weehawken, NJ Initial Occupancy: Q2 2018 Urby at Harborside Jersey City, NJ Initial Occupancy: Q1 2017 Gf$264 higher than Balance Sheet mark for in-construction assets RiverHouse 11 at Port Imperial Weehawken, NJ Initial Occupancy: Q1 2018 ($ in millions) Number of Units Total Per Unit Debt JV Partner Roseland RRT % of Total Operating Properties - Wholly Owned 7 2,027 $564 $278 $194 $0 $370 27.4% Operating Properties - Joint Venture 5 1,940 1,049 541 517 340 192 14.2% Operating Properties - Subordinate Interest 4 1,647 950 577 514 384 52 3.8% Subtotal: Operating Properties 16 5,614 $2,563 $457 $1,225 $724 $614 45.4% In-Construction 10 3,063 746 243 206 58 482 35.7% Pre / Future Development 33 10,340 427 41 0 191 236 17.4% Subtotal 59 19,017 $3,736 $196 $1,431 $973 $1,332 98.5% Fee Business Fee Income Business / Platform $20 $20 1.5% Total Total $3,756 $1,431 $973 $1,352 100.0% (2) Number of Properties / Projects Estimated Asset Value Asset Value Breakdown (1) Status

Notes: Breakdown excludes $572mm of discounts to JV Partner and Roseland value for assets currently under construction or renovation. Roseland year-end NAV represents a valuation midpoint between $1.28bn and $1.42bn. Portfolio Overview- Net Asset Value (NAV) Summary 8 Q4 2016 At year-end 2016 Roseland had an approximate NAV of $1.35bn Ownership: Wholly-owned and joint venture interests represent ~95% of NAV Markets: Geographically concentrated on the Hudson River Waterfront and Boston Metro markets ~77% ($ in millions) Number of Units Total Per Unit Debt JV Partner Roseland RRT % of Total Wholly-Owned 34 8,385 $947 $210 $21 $715 52.9% Joint Venture 21 8,985 1,837 706 567 564 41.8% Subordinated Interest 4 1,647 952 514 386 52 3.8% Subtotal 59 19,017 $3,736 $1,431 $973 $1,332 98.5% Fee Business Fee Income Business / Platform $20 $20 1.5% Total Total $3,756 $1,431 $973 $1,352 100.0% (2) Number of Properties / Projects Estimated Asset Value Asset Value Breakdown (1) Ownership Hudson River Waterfront 23 9,503 $2,182 $866 $716 $599 44.3% Hudson River Waterfront - Jersey City 11 5,909 1,273 507 415 350 25.9% Hudson River Waterfront - Port Imperial 12 3,594 909 359 302 249 18.4% New York Metro 20 3,949 365 132 82 151 11.2% Philadelphia Metro 2 516 35 0 0 35 2.6% Washington, D.C. 4 1,724 544 266 175 104 7.7% Boston Metro 10 3,325 610 166 0 443 32.8% Subtotal 59 19,017 $3,736 $1,431 $973 $1,332 98.5% Fee Business Fee Income Business / Platform $20 $20 1.5% Total Total $3,756 $1,431 $973 $1,352 100.0% (2) Markets

Portfolio Overview- Net Asset Value (NAV) Breakdown 9 Q4 2016 As of December 31, 2016, Roseland’s approximate $1.35bn NAV was comprised of: Top NAV (net equity) contributors (63%)(1) Pre / Future Development Land -$236mm Alterra at Overlook Ridge - $192mm(2) Urby at Harborside - $184mm Portside 7 & 5/6 at East Pier - $89mm Chase I & II at Overlook Ridge - $88mm RiverHouse 11 at Port Imperial - $60mm Notes: Includes both stabilized and in-construction assets. Subsequent to year-end, RRT closed on a $100mm financing on Alterra at Overlook Ridge. Operating Properties 57% In - Construction 24% Pre / Future Development 17% Other 2% NAV by Asset Status Hudson River Waterfront 44% Boston Metro 33% New York Metro 11% Washington, D.C. 8% Philadelphia Metro 3% Other 1% NAV by Market

Equity Commitment: Rockpoint will commit to fund $300mm of equity into RRT over the next two years, with $150mm funded at closing Mack-Cali will have the option to fund up to $200mm of equity into RRT after Rockpoint’s commitment is fully funded RRT will receive a deemed funded existing equity value at closing of $1.23bn Upon full Rockpoint and Mack-Cali funding, pro forma ownership would be ~83% Mack-Cali and ~17% Rockpoint Waterfall: 6% annual dividend on funded equity (Rockpoint and RRT) 6% annual return on RRT existing equity, with Rockpoint receiving an additional 5% of the amount distributed to RRT Pro Rata based on funded equity and RRT existing equity RRT Promote: Upon a capital event, Rockpoint’s pro-rata distribution shall reduce by 50% after achieving an 11% annual IRR Other Key Provisions: RRT and Rockpoint will have the right to cause redemption of the “Rockpoint Transaction” after the fifth anniversary of the closing date without penalty RRT will control governance of the company, but for limited events where consent is required Mack-Cali will have the right to spinout its interests in RRT or otherwise create a public listing for RRT at anytime Roseland Capitalization - Rockpoint Transaction Overview (1) 10 Q4 2016 Affiliates of Rockpoint Group, L.L.C. (“Rockpoint”) are making a $300mm strategic equity investment in RRT to facilitate RRT’s ongoing and future development, acquisition and repurposing activities. Note: Please see public filings for complete Rockpoint Transaction disclosure.

Capital Raise: The Company is scheduled to close on the Rockpoint Transaction in March thereby allowing the continued growth of RRT without burdening the Company’s balance sheet Capital Commitments: Roseland’s known projected future capital commitments for its in-construction portfolio and the pending Monaco acquisition is approximately $226mm, to be funded primarily with Rockpoint capital Subordinate Interest Reduction: In 2016, RRT made significant strides in reducing its subordinate interest partnerships. At year-end 2015, RRT had an interest in 3,025 subordinate operating apartments. As of December 31, 2016 RRT’s subordinate interest portfolio was reduced to 1,647 apartments (a 46% reduction). With the recent announcement of the Monaco acquisition and Estuary disposition, Roseland will have two remaining subordinated interests, inclusive of the valuable Marbella interest Construction Starts: 2017 target start activity of 1,604 apartments will produce an operating and in-construction portfolio at year-end 2017 of approximately 9,699 apartments, with average ownership of 76% Office Transfers/Repositionings: The completion of transfers for six additional Mack-Cali office holdings to RRT for repurposing activities (see page 27) 11 Q4 2016 Category In-Construction Portfolio (Remaining Commitment) Monaco Acquisition (March 2017) Total Amount ($M) $95 131 $226 (1) Roseland Overview- 2017 Objectives Notes: Net of anticipated construction loans

Growth 47.9% Portfolio Overview Roseland envisions continuous growth of its operating residential portfolio: Notes: Includes 612 hotel keys and 1,770 apartments of Identified Repurposing units (see page 42). Total unit count reduces due to the pending disposition of Estuary. Classification Operating Communities Operating Communities (Subordinated Interests) In-Construction Communities Subtotal Predevelopment and Future Communities Total (1) Y/E 2016 3,967 1,647 3,063 8,677 10,340 19,017 Y/E 2017 5,687 542 3,470 9,699 8,736 18,435 Y/E 2018 6,709 542 5,204 12,455 5,980 18,435 12 Q4 2016 0

Notes: Year-end 2018 projections based on execution of Roseland’s development/operating plan described herein and internal company projections. Year-end 2020 cash flow projection is $85-$95mm. Roseland has exhibited growth across key financial metrics since its acquisition with forecasts of continued material growth Roseland Overview- Financial Metric Growth 13 Q4 2016 October 2012 December 2016 Year End 2018 (1)(2) Total Oct-2012 Delta Total Oct-2012 Delta Operating & Construction Apts. 3,533 8,677 5,144 12,273 8,740 Future Development Apts. 7,086 10,340 3,254 5,980 (1,106) Subordinated Interests Apts. 3,533 1,647 (1,886) 542 (2,991) Average Operating and Construction Ownership 22.3% 65.7% 43.4% 80.1% 57.8% Annual Property Cash Flow ($ in millions) $0.5 $18.0 $17.5 $59.2 $58.7 NAV ($ in millions) $115 $1,352 $1,237 $2,421 $2,306 Projected Growth Actual Growth

Operating and In-Construction Properties- Geographic Breakdown 14 Q4 2016 Portfolio Summary (% by units) Operating Properties In Construction Boston Metro 4 properties / 1,560 units 2 properties / 661 units Total 6 properties / 2,221 units Jersey City 3 properties / 1,246 units 1 property / 763 units Total 4 properties / 2,009 units Suburban NJ, NY & PA 6 properties / 738 units 5 properties / 972 units Total 11 properties / 1,710 units Washington DC 2 properties / 1,172 units Port Imperial 2 properties / 898 units 2 properties / 667 units Total 4 properties / 1,565 units Roseland’s operating portfolio is predominantly located in gateway markets with an average asset age of 11 years. Port Imperial 18% Suburban NJ, NY & PA 20% Washin gton DC 13% Jersey City 23% Boston Metro 26%

Future Development Properties- Geographic Breakdown 15 Q4 2016 Portfolio Summary (% by units) Boston Metro 4 properties / 1,104 units Jersey City 7 properties / 3,900 units Suburban NJ, NY & PA 11 properties / 2,755 units Washington DC 2 properties / 552 units Port Imperial 8 properties / 2,029 units Roseland’s strategically located land portfolio will fuel its future growth: Acquisition Risk: Portfolio growth is not subject to acquisition risk as Roseland controls its sizable future development portfolio inclusive of accretive repurposing opportunities Development Risk: Future development is substantially in communities where Roseland has developed before, or more specifically adjacent to existing developments, thereby dramatically reducing our development risk. This allows RRT to have intimate knowledge on operating expenses and construction costs, and most importantly, achievable rent thresholds Port Imperial 19% Suburban NJ, NY & PA 26% Washington DC 9% Jersey City 36% Boston Metro 10%

Hudson Waterfront Overview- Jersey City Jersey City continues to demonstrate demand for luxury housing as residents seek an alternative to Manhattan rents with convenient access to public transportation and a growing restaurant and neighborhood lifestyle. RRT has concentrated on building our portfolio of Jersey City assets, most recently by increasing Roseland ownership to 100% in Plaza 8 and Plaza 9 land holdings and reaching an agreement to purchase our partners’ interests in Monaco (523 apartments). With over 14 square miles and multiple sub-markets, RRT assets are strategically located on the highly desirable Jersey City Waterfront. 16 Q4 2016 JERSEY CITY, NJ RRT Core Jersey City Holdings NYC Jersey City 2017 Projected Cash Flow 2019 Projected Cash Flow % RRT NAV $11mm $21mm 26% Monaco - 523 units Urby at Harborside - 763 units Opening Q1 2017

Numerous sources have reported +23,000 unit development hitting Jersey City in the near future. In fact, this is only the potential numbers which include secondary locations, some without streets or utilities To date, successful absorption of ~8,000, with the market maintaining strong occupancy (+95%) and continued rent growth (3-5%) Of the 15,000 remaining units, secondary sub-markets make up approximately 9,000 (60%) of the remaining units ~ 6,000 units are approved for development in Jersey City Premier Markets (Waterfront and Exchange Place) Jersey City- Over Development: The Myth 17 Journal Square 3,600 units Liberty Harbor 4,400 units Waterfront 3,000 units Represents approved future multifamily development in Premier Market. Operating (1996-2016) Submarkets Premier Markets 8,000 Journal Square 3,600 Waterfront 3,000 Liberty Harbor 4,400 Exchange Place 3,000 Other 1,000 6,000 9,000 Exchange Place 3,000 units Q4 2016

Jersey City- Future Competitive Pipeline 18 Jersey City Premier Market Development Of the ~6,000 units approved for future development, approximately 2,600 are scheduled to open in the next two years. RRT represents 29% of the supply Jersey City Urby at Harborside -763 units (opened Q1 2017) The remaining units consist of four projects over two major submarkets with an average unit count of ~460 units 2017 / 2018 Projected Openings (Premier Markets) Units Projected Opening Developer Urby at Harborside 763 Opened (Q1 2017) Roseland & Ironstate The Ellipse 376 2017 Lefrak The Morgan Phase II 510 2017 Toll Brothers 90 Columbus 539 2017 Panepinto & Ironstate Hudson Exchange 421 2018 Forest City Total 2,609 Waterfront Exchange Place Jersey City The market has reacted to fears of over supply by slowing down delivery. RRT763 Q4 2016

Jersey City- Development Pipeline 19 The market has reacted to fears of over supply by slowing down delivery. 3-4 5 7 10 8 9 11 2 6 1 14 17 15 13 12 Project Submarket Units Status 1 The Ellipse Newport 376 Under Construction 2 Marbella II Exchange Place 311 Completed 3 Urby at Harborside Exchange Place 763 Completed 4 Urby Future Exchange Place 1,500 Planned 5 Trump Bay Street Exchange Place 447 Completed 6 Hudson Exchange Exchange Place 421 Under Construction 7 350 Warren Powerhouse/Arts 360 Completed 8 Morgan Provost Square II Powerhouse/Arts 510 Under Construction 9 Oakmont Powerhouse/Arts 159 Completed 10 Leer Site Powerhouse/Arts 700 Planned 11 111 First Street Powerhouse/Arts 350 Planned 12 70 / 90 Columbus Grove Street 942 Completed / U/C 13 Van Vorst & Sussex Paulus Hook 150 Under Construction 14 235 Grand Liberty Harbor 670 Planned 15 Liberty Harbor North Liberty Harbor 900 Under Construction 16 Hamilton Urban Renewal Hamilton Park 400 Under Construction TOTALS Under Construction 2,757 Planned 3,220 Recently Delivered 2,982 TOTAL 8,959 Source: JLL Capital Markets Group Q4 2016

Jersey City: Stereotypes 20 Q4 2016 None of my friends will visit me I can’t afford Paulus Hook Strollers & Lattes Beards & Flannels I plan on being here awhile 2016’s Ellis Island I work 15 hour days and want all amenities in my building Not-starving artist enclave Source: JLL Capital Markets Group

Jersey City vs New York Rental Rate Comparison 21 Q4 2016 184 Kent Avenue Williamsburg, Brooklyn M2 Jersey City Size Studios: 489 - 662 sf 1 Bedroom: 714 - 848 sf 2 Bedroom: 1,013 - 1,276 sf 3 Bedroom: 1,449 sf Rent Studios: $2,100 - $2,625 ($3.75 - $4.29) 1 Bedroom: $2,750 - $2,900 ($3.36 - $3.87) 2 Bedroom: $3,650 - $4,250 ($3.33 - $3.78) 3 Bedroom: $5,550 ($3.83) Size Studios: 485 sf 1 Bedroom: 679 sf 2 Bedroom: 995 sf 3 Bedroom: 1,282 sf Rent Studios: $2,723 ($5.61) 1 Bedroom: $3,519 ($5.18) 2 Bedroom: $4,885 ($4.91) 3 Bedroom: $7,123 ($5.56) Prism at Park Avenue South 28th Street, Manhattan Size Studios: 499 sf 1 Bedroom: 783 sf 2 Bedroom: 1,266 sf 3 Bedroom: 1,580 sf Rent Studios: $4,097 ($8.20) 1 Bedroom: $6,359 ($8.13) 2 Bedroom: $9,339 ($7.38) 3 Bedroom: $13,827 ($8.75) Jersey City: +/- $3.00 to $4.00 psf Brooklyn: +/- $5.00 to $6.00 psf Manhattan: +/- $8.00 to $9.00 psf Source: JLL Capital Markets Group

Jersey City - Demographics Moving to Jersey City? Join the Club 22 Q4 2016 1-Mile Exchange Place Jersey City Hoboken Hudson County Waterfront* Brooklyn Lower Manhattan** Population Growth 2015 – 2020 9.13% 5.43% 6.49% 5.04% 4.99% 4.37% 2.89% 2010 – 2015 10.23% 4.37% 5.89% 3.86% 3.99% 3.53% 2.14% Median Age 32.7 34.0 32.5 34.8 35.5 34.9 36.7 Renter Occupied Housing (as % of Total HH) 74.8% 71.8% 68.9% 69.4% 68.1% 72.8% 77.4% Est. Avg HH Income $118,340 $78,513 $143,025 $82,094 $82,990 $65,852 $124,191 Est. Avg Per Capita Income $58,955 $31,201 $72,396 $32,346 $33,456 $24,405 $63,350 * Waterfront includes Bayonne, Jersey City, Hoboken, Union City, West New York, Weehawken, North Bergen, Cliffside Park, Fairview, Edgewater and Fort Lee. ** Lower Manhattan includes neighborhoods south of 23rd Street "Jersey City is no longer just another gritty town on the wrong side of the Hudson River, dismissed by apartment hunters. As its population soars, new housing rises and buyers get wind of the quick train commute it offers to New York, Jersey City is shedding its dingy image and emerging as a destination of choice. An influx of new arrivals priced out of Manhattan and Brooklyn is helping make it the fastest growing metropolitan area in New Jersey .And with the inventory of available homes at a three-year low, bidding wars are driving up prices downtown, pushing newcomers farther inland." Feb. 12, 2016 Source: JLL Capital Markets Group

Jersey City – Submarket Rents 23 Q4 2016 Powerhouse Arts District: New construction; Highest psf rent Liberty Harbor: Smallest units; Lowest rents Exchange Place: Second in unit size and rents ; +/- 10 years old, large towers Grove Street: Diverse inventory, new construction, strong velocity Paulus Hook: Largest units and highest rents; Lags in age, height and psf rents Newport: Oldest product; Lowest rental rates per square foot Age Height Unit Size Rent Rent Per SF Superior Powerhouse Arts District (2015) Exchange Place (31 Floors) Paulus Hook (998 sf) Paulus Hook ($3,394/mo) Grove Street ($4.12 psf) Inferior Newport (1999) Liberty Harbor (9 Floors) Liberty Harbor (745 sf) Liberty Harbor ($2,706/mo) Newport ($3.17 psf) Source: JLL Capital Markets Group

Notes: Approximately 26% of units available for leasing at year-end. As of February 19, 2017, asset was 25% leased. As of February 19, 2017, asset was 30% leased. 2015/2016 Achievements - Development Roseland Overview- Development Activity and Cash Flow 24 Q4 2016 Lease-Up Commencements % Leased Units Projected Yield Stabilized RRT Cash Flow M2 at Marbella 95.5% 311 7.01% $1.48M Quarry Place at Tuckahoe(1) 12.0% 108 6.61% $2.25M Chase II at Overlook Ridge (2) 11.0% 292 6.41% $2.87M Total 48.1% 711 6.70% $6.60M Opened Q1 2017 Urby at Harborside Q1 2017 763 6.81% $9.10M In-Construction Portfolio Signature Place at Morris Plains Q4 2017 197 6.64% $2.2M Residences at City Square Q4 2017 365 6.46% $3.6M Lofts at 40 Park Q1 2018 59 6.72% $280K RiverHouse 11 at Port Imperial Q1 2018 295 6.20% $4.20M Portside 5/6 Q2 2018 296 6.18% $3.80M By year-end 2020, Roseland projects additional cash flow contribution of approximately $38mm from its current lease-up and in-construction development activities RiverHouse 11 at Port Imperial M2 at Marbella

25 Q4 2016 Roseland Overview- Development Activity and Cash Flow In-Construction Portfolio (Continued) Initial Occ. Units Projected Yield Stabilized RRT Cash Flow Marriott Hotels at Port Imperial Q2 2018 372 10.03% $7.10M 51 Washington Street Q2 2019 310 6.00% $2.4M 233 Canoe Brook (Apartments) Q3 2019 200 7.65% $3.27M 150 Monument Road Q4 2019 206 6.14% $1.58M Total 3,063 6.98% (1) $37.5M Marriott Hotels at Port Imperial Notes: Projected stabilized yield without the Marriott Hotels project is 6.53 percent. $0 $15 $30 $45 2017 2018 2019 2020 RRT Cash Flow Contribution ($38M) 150 Monument 233 Canoe Brook 51 Washington Marriott Hotels Portside 5/6 RiverHouse 11 Lofts at 40 Park Signature Place URL Chase II Quarry Place M2

Roseland Overview- Acquisition Highlights Acquisition Activity (generating greater ownership) Results Majority partner’s interest in Portside at East Pier; Minority partner’s interest in Portside at East Pier, 5/6 and 1-4 (2Q 2016) 100% ownership in Portside at East Pier 100% ownership in Portside 5/6 and 1-4 Minority JV partner’s 25% subordinated interest in RiverTrace (2Q 2016) subsequently converted 50% subordinated interest to heads-up 22.5% ownership in RiverTrace and refinanced the property from 6% to 3.21% Land partner’s interest in five land parcels in Port Imperial (2Q 2016) 100% ownership in Parcels 11 (in construction), 8-9, 16, 1-3 Office, and Park Parcel (~1,000 units) JV partner’s interest in Port Imperial South Garage and Retail (2Q 2016) 70% ownership in Port Imperial Garage and Retail South up from 44% Majority JV partner’s interest in The Chase at Overlook Ridge (1Q 2016) and Land partner’s interest in Overlook Ridge (2014) 100% ownership in The Chase at Overlook Ridge 100% ownership in The Chase II at Overlook Ridge 100% ownership in remaining land parcels (~800 units) Through 4Q 2016, Roseland spent net capital of $79mm ($125mm acquisitions* ; $46mm dispositions) to increase portfolio cash flow and ownership. Moreover, and in continuation of the Company’s strategy, subsequent to year-end, RRT reached several agreements to further reduce its subordinate interests and expand its ownership: Q1 2017 Acquisition: Acquired partners’ interest in Plaza 8/9 (development site along the Jersey City waterfront); resulting in 100% ownership Pending Acquisition: Reached agreement to acquire partners’ interests in Monaco in Jersey City (523 units); resulting in 100% ownership Immediate annual cash flow contribution of approximately $7.8mm Disposition: 7.5% Subordinate interest in Estuary in Weehawken * Net of $33mm refinancing proceeds 26 Q4 2016 Overlook Ridge, Malden MA RiverTrace West New York, NJ

Portfolio Overview- Repurposing Overview Roseland’s repurposing program has been successful in converting under preforming office holdings to higher valued residential use Roseland’s reputation and track record of public-private partnerships with local municipalities has led to previous repurposing achievements and we believe will generate future multifamily development approvals Future Transfers: Mack-Cali is seeking the transfer of six properties to RRT for designated repurposing activities in 2017 In-Construction (Recent Success): Q4 – 2015 on Signature Place in Morris Plains, NJ (197 units) Q4 – 2016 on 150 Monument Road in Bala Cynwyd, PA (206 units) Q4 – 2016 on 233 Canoe Brook Road in Short Hills, NJ (200 units; 240 keys) Future Starts: Roseland is seeking/finalizing approvals on additional repurposing developments. Current highlights: RRT holdings: 345 units Identified Candidates : 1,770 units Bergen County (725 units) · Essex County (580 units) · Westchester County (290 units) · Morris County (175 units) 27 Short Hills, NJ Apts: 200 Started: 4Q 2016 Signature Place Morris Plains, NJ Apts: 197 Started: 4Q 2015 Bala Cynwyd, PA Apts: 206 Started: 4Q 2016 Q4 2016

Financial Schedules Q4 2016

Financial Highlights- RRT Balance Sheet 29 $ in thousands Q4 2016 Notes: Increase primarily resulting from Chase I and Portside 7 acquisitions ($175 million), in-construction development and repurposing expenditures ($198 million), and the transfer of Urby at Harborside land ($11 million) less Andover sale of property of ($39 million). Increase primarily resulting from Chase I and Portside 7 loans acquired and refinanced ($130 million), construction loan advances ($81 million) and repayment of land loans ($40 million). AS OF AS OF DEC 31, 2016 DEC 31, 2015 ASSETS Rental Property Land and Leasehold Interests $210,697 $177,579 Buildings and Improvements 582,361 435,726 Construction in Progress 217,920 59,517 Furniture, Fixtures and Equipment 18,312 12,737 Total Gross Rental Property (1) 1,029,290 685,559 Less: Accumulated Depreciation (41,186) (30,642) Net Investment in Rental Property 988,104 654,917 Rental Property Held for Sale, Net (1) - - Total Property Investments 988,104 654,917 Cash and Cash Equivalents 17,186 6,802 Investments in Unconsolidated Joint Ventures 238,498 227,317 Unbilled Rents Receivable, net 165 43 Deferred Charges and Other Assets 33,736 28,589 Restricted Cash 3,280 2,607 Accounts Receivable 3,559 1,815 Total Assets 1,284,528 $922,089 LIABILITIES AND EQUITY LIABILITIES Mortgages, Loans Payable and Other Obligations (2) $283,104 113,715 Accounts Pay, Accrued Expenses and Other Liabilities 36,945 32,569 Rents Recieved in Advance and Security Deposits 2,406 1,713 Accrued Interest Payable 420 282 Total Liabilities 322,875 148,279 EQUITY Partner's Capital/Stockholders' Equity 940,946 716,608 Non Controlling Interests in Consolidated Joint Ventures 20,707 57,202 Total equity 961,653 773,810 Total Liabilities and Equity 1,284,528 $922,089

Financial Highlights- RRT Income Statement 30 $ in thousands Q4 2016 Notes: Includes net operating income after debt service from Consolidated Operating Communities of $4.3 million and $18.9 million, depreciation of $3.5 million and $13.3 million and amortization of in-place leases related to the acquisition of Chase I and Portside 7 of $400 thousand and $7 million for the three and twelve months ended December 31,2016, respectively. Includes realized gain on sale of Andover Place ($2.7 million) and unrealized loss of Capital Office Park land ($3.2 million). Three Months Ended Twelve Months Ended December 31, 2016 December 31, 2016 REVENUE: Base Rents $9,000 $36,721 Escalation and Recoveries from Tenants 344 1,324 Parking Income 1,642 6,672 Other Income 387 1,113 Total Revenue $11,373 $45,830 EXPENSES: Real Estate Taxes $1,747 $7,828 Utilities 721 2,778 Operating Services 3,033 11,743 Real Estate Service Expenses (Net) 665 1,817 General and Administrative 3,782 12,024 Acquisition Costs - 164 Depreciation and Amortization 4,910 24,571 Total Expenses $14,858 $60,925 Operating Income (1) ($3,485) ($15,095) OTHER (EXPENSE) INCOME: Interest Expense ($1,985) ($6,993) Interest and other investment income - 1 Equity in Earnings (Loss) in Unconsolidated Joint Ventures (1,061) (5,008) Gain on Change of Control of Interests - 15,347 Gain on Sale of Investment in Unconsolidated Joint Ventures - 5,670 Total Other (Expense) Income ($3,046) $9,017 Discontinued Operations (Net) Realized Gain/(Loss) and Unrealized (Loss) on Asset Dispositions (2) (7) (479) Net Income (Loss) ($6,538) ($6,557) Non-Controlling Interest in Consolidated Joint Ventures 146 967 Net Income Available to Common Shareholders ($6,392) ($5,590)

Financial Highlights- Debt Maturities 31 Q4 2016 Notes: Reflects debt at effective ownership percent. Excludes debt associated with Unconsolidated Subordinate Joint Ventures. Weighted average LIBOR rate for floating rate debt is 0.6162%. Includes approximately $93 million of actual construction loans balances as of December 31, 2016, which have a maximum loan balance of approximately $422 million. At year-end, Roseland’s total indebtedness was $556mm comprised of $283mm consolidated debt and $273mm of allocated unconsolidated debt (1) Average fixed rate interest: 4.28% Average floating rate interest: 3.26% Total leverage represents a 29% debt ratio assuming Roseland net equity of $1.35bn (see page 7) $ in thousands As of 12/31/16 Consolidated Debt Maturities Fixed Rate Floating Rate (2) Total % of Total Weighted Average on Fixed Rate Debt Weighted Average on Floating Rate Debt (2) 2017 $0 $26,642 $26,642 9.2% N/A 3.0% 2018 0 49,627 49,627 17.2% N/A 3.6% 2019 0 44,013 44,013 15.3% 3.1% 3.1% 2021 4,000 0 4,000 1.4% 4.4% N/A 2023 131,498 0 131,498 45.6% 3.5% N/A Thereafter 32,600 0 32,600 11.3% 4.8% N/A Total Mortgages Payable per Balance Sheet $168,098 $120,282 $288,380 (3) 100.0% 3.8% 3.3% Total Mortgage Deferred Finance Costs (5,276) Total Mortgages Payable and Misc Obligations $168,098 $120,282 $283,104 Unconsolidated JV Debt Maturities Fixed Rate Floating Rate (2) Total % of Total Weighted Average on Fixed Rate Debt Weighted Average on Floating Rate Debt (2) 2017 0 17,606 17,606 6.4% N/A 3.0% 2020 41,250 0 41,250 15.1% 3.2% N/A Thereafter 214,208 0 214,208 78.5% 4.8% N/A Total Unconsolidated JV mortgages payable (1) $255,458 $17,606 $273,064 100.0% 4.6% 3.0%

Community Highlights Q4 2016

Financial Highlights- Operating & Lease-Up Communities As of December 31, 2016, Roseland had: Wholly-owned or joint venture interest in 4,109 stabilized operating apartments and 1,505 apartments in lease-up or repositioning stages (Total : 5,614 apartments) The stabilized portfolio had a leased percentage of 96.3%, compared to 97.9% in Q3 M2 at Marbella in Jersey City, NJ began leasing in May 2016 and was 95.5% leased (stable) at quarter-end The Chase II at Overlook Ridge, MA began leasing in November 2016 and was 11% leased at quarter-end (current: 30%) Quarry Place at Tuckahoe, NY began leasing in November 2016, with full CO of 28 units, and was 12% leased at quarter-end (current: 25%) Roseland has successfully converted its promoted interests via disposition, acquisition or ownership buy-ups. Recent achievements include: Monaco, Jersey City, NJ: Subsequent to quarter-end, Roseland reached an agreement to acquire its partners’ majority and minority interests. Converting a 15% subordinate interest position to a wholly owned asset. Estuary, Weehawken, NJ: Subsequent to quarter-end, Roseland reached an agreement to dispose of its 7.5% subordinate interest RiverTrace at Port Imperial: Converted to a 22.5% heads-up, cash-flowing, JV in October 2016 As of Q1 2017, we are targeting a subordinate interest residential portfolio of no more than two (2) residential communities as compared to nine (9) communities at year-end 2015. 33 Q4 2016

Financial Highlights- Operating Communities 34 Q4 2016 Notes: Ownership represents Company participation after satisfaction of Priority Capital. See Capitalization Details schedule herein. Subsequent to year-end Roseland, reached an agreement to purchase partners’ majority interest, converting the ownership from 15 percent to 100 percent. Subsequent to year-end Roseland, reached an agreement to sell its 7.5 percent subordinate interest. Unit count excludes 31 apartments offline until completion of all renovations; Percentage Leased excludes 84 units undergoing renovation. Excludes approximately 78,066 SF of ground floor retail. $ in thousands Average Average Percentage Percentage Revenue Revenue Rentable Avg. Year Leased Leased Per Home Per Home NOI NOI NOI Operating Communities Location Ownership Apartments SF Size Complete Q4 2016 Q3 2016 Q4 2016 Q3 2016 Q4 2016 Q3 2016 YTD 2016 Consolidated Alterra at Overlook Ridge Revere, MA 100.00% 722 663,139 918 2008 96.3% 98.2% $1,921 $1,903 $2,039 $2,098 $8,784 The Chase at Overlook Ridge Malden, MA 100.00% 371 337,060 909 2014 96.5% 98.9% 2,100 2,244 1,510 1,592 6,101 Park Square Rahway, NJ 100.00% 159 184,957 1,163 2009 97.5% 97.5% 2,113 2,150 349 360 1,489 Riverw atch New Brunswick, NJ 100.00% 200 147,852 739 1997 97.0% 98.5% 1,809 1,688 402 314 1,416 Portside at East Pier - 7 East Boston, MA 100.00% 175 156,091 892 2015 97.2% 99.4% 2,809 2,907 935 1,040 4,033 Consolidated 100.00% 1,627 1,489,099 915 96.6% 98.5% $2,062 $2,086 $5,235 $5,404 $21,823 Joint Ventures RiverTrace at Port Imperial West New York, NJ 22.50% 316 295,767 936 2014 94.9% 98.1% $3,134 $3,170 $1,731 $1,781 $7,141 RiverPark at Harrison Harrison, NJ 45.00% 141 125,498 890 2014 97.8% 95.0% 2,264 2,198 474 410 1,612 Station House Washington, DC 50.00% 378 290,348 768 2015 93.9% 95.5% 2,792 2,748 $1,942 $1,818 6,437 Joint Ventures 38.75% 835 711,613 852 94.9% 96.4% $2,832 $2,815 $4,147 $4,009 $15,190 Subordinate Interests (1) Marbella Jersey City, NJ 24.27% 412 369,515 897 2003 97.1% 97.8% $3,113 $3,156 $2,301 $2,481 $9,689 Monaco (2) Jersey City, NJ 15.00% 523 475,742 910 2011 96.2% 98.3% 3,448 3,523 3,534 3,803 14,612 The Estuary (3) Weehawken, NJ 7.50% 582 530,587 912 2014 97.3% 97.9% 3,223 3,258 3,811 3,343 13,916 Metropolitan at 40 Park Morristown, NJ 12.50% 130 124,237 956 2010 93.8% 97.7% 3,346 3,357 806 825 3,176 Subordinate Interests 14.47% 1,647 1,500,081 911 96.6% 98.0% $3,277 $3,324 $10,452 $10,452 $41,393 Total Residential - Stabilized 53.27% 4,109 3,700,793 901 96.3% 97.9% $2,706 $2,731 $19,834 $19,865 $78,406 Lease-up / Repositions Consolidated The Chase II at Overlook Ridge Malden, MA 100.00% 292 261,101 894 2016 11.0% NA NA NA (69) NA (69) Quarry Place at Tuckahoe Eastchester, NY 76.25% 108 105,509 977 2016 12.0% NA NA NA (67) NA (67) Consolidated 93.59% 400 366,610 917 11.3% 0.0% $0 $0 ($136) $0 ($136) Joint Ventures Crystal House (4) Arlington, VA 25.00% 794 738,786 930 1962 92.4% 97.8% $1,885 $1,829 $2,209 $2,012 $8,392 M2 Jersey City, NJ 24.27% 311 273,132 878 2016 95.5% 78.5% 3,038 3,064 1,669 1,216 2,686 Joint Ventures 24.79% 1,105 1,011,918 916 93.3% 92.4% $2,210 $2,177 $3,878 $3,228 $11,078 Total Residential - Operating Communities (5) 50.54% 5,614 5,079,321 905 89.63% 89.81% $2,415 $2,427 $23,576 $23,093 $89,348 Operating Highlights

Financial Highlights- Operating Communities 35 Q4 2016 Notes: Subsequent to year-end the Company closed on a $100mm, 7-year interest-only loan at a 3.75 percent coupon. The MCRC Balance represents capital account held by Marbella Rosegarden, L.L.C., of which the Company owns a 48.53 percent interest. Includes preferred return on capital account. Equity Capital balances apply to Metropolitan at 40 Park. The MCRC balance represents capital account held by Rosewood Epsteins, L.L.C., of which the Company owns a 50 percent interest. Upon a capital event, the Company receives a promoted additional 25 percent interest over a 9.00 percent IRR to heads-up capital accounts. $ in thousands Third Outstanding Maximum Maturity Interest MCRC Party Return Operating Communities Ownership Apartments Balance Balance Date Rate Capital Capital Rate Notes Consolidated Alterra at Overlook Ridge 100.00% 722 $0 $0 (1) The Chase at Overlook Ridge 100.00% 371 72,500 72,500 2/1/2023 3.625% Park Square 100.00% 159 27,500 27,500 4/10/2019 L + 1.75% Riverw atch 100.00% 200 0 0 Portside at East Pier - 7 100.00% 175 58,998 58,998 8/1/2023 3.44% Consolidated 100.00% 1,627 $158,998 $158,998 Joint Ventures RiverTrace at Port Imperial 22.50% 316 $82,000 $82,000 11/10/2026 3.21% RiverPark at Harrison 45.00% 141 30,000 30,000 8/1/2025 3.70% $1,416 $1,861 7.25% Station House 50.00% 378 100,700 100,700 7/1/2033 4.82% 45,908 45,751 Joint Ventures 38.75% 835 $212,700 $212,700 $47,324 $47,612 Subordinate Interests Marbella 24.27% 412 $95,000 $95,000 5/1/2018 4.99% $125 $7,567 9.50% (2),(3) Monaco 15.00% 523 165,000 165,000 2/1/2021 4.19% 0 83,741 9.00% (3) The Estuary 7.50% 582 210,000 210,000 3/1/2030 4.00% 0 15,485 8.50% (3) Metropolitan at 40 Park 12.50% 130 37,640 37,640 9/1/2020 3.25% 695 21,671 9.00% (3),(4) Joint Ventures 14.47% 1,647 $507,640 $507,640 $820 $128,464 Total Residential - Stabilized 53.27% 4,109 $879,338 $879,338 $48,144 $176,076 Lease-up / Repositions Consolidated The Chase II at Overlook Ridge 100.00% 292 $34,708 $48,000 12/16/2018 L + 2.25% Quarry Place at Tuckahoe 76.25% 108 26,642 28,750 3/30/2017 L + 2.35% 25,860 852 8.00% Consolidated 93.59% 400 $61,350 $76,750 $25,860 $852 Joint Ventures Crystal House 25.00% 794 $165,000 $165,000 4/1/2020 3.17% $27,005 $81,016 (5) M2 24.27% 311 72,544 77,400 3/30/2017 L + 2.25% 16,159 50,717 9.00% Joint Ventures 24.79% 1,105 $237,544 $242,400 $43,164 $131,733 Total Residential - Operating Communities 50.54% 5,614 $1,178,232 $1,198,488 $117,168 $308,661 Project Debt Capital Balance Overview

Financial Highlights- Operating Commercial Assets 36 Q4 2016 $ in thousands Notes: Capital balance applies to both Port Imperial Garage South and Port Imperial Retail South. Equity Capital balances apply to Shops at 40 Park. The MCRC balance represents capital account held by Rosewood Epsteins, L.L.C., of which the Company owns a 50 percent interest. Percentage Percentage Rentable Year Leased Leased NOI NOI NOI Operating Commercial Location Ownership Spaces SF Complete Q4 2016 Q3 2016 Q4 2016 Q3 2016 YTD 2016 Consolidated Port Imperial Garage South Weehawken, NJ 70.00% 800 320,426 2013 NA NA $481 $513 $1,914 Port Imperial Retail South Weehawken, NJ 70.00% 16,736 2013 53.5% 53.5% 25 (4) (49) Port Imperial Garage North Weehawken, NJ 100.00% 786 304,617 2015 NA NA 384 464 1,471 Port Imperial Retail North Weehawken, NJ 100.00% 8,365 2015 100.0% 100.0% 75 42 117 Consolidated 84.44% 650,144 69.0% 69.0% $965 $1,015 $3,453 Subordinate Interests Shops at 40 Park Morristown, NJ 12.50% 50,973 2010 65.5% 65.5% $209 $204 $818 Riverwalk at Port Imperial West New York, NJ 20.00% 30,745 2008 64.0% 64.0% 129 171 652 Subordinate Interests 15.32% 81,718 64.9% 64.9% $338 $375 $1,470 Total Commercial 76.72% 731,862 68.54% 68.54% $1,303 $1,390 $4,923 Operating Highlights Third Outstanding Maximum Maturity Interest MCRC Party Return Operating Commercial Balance Balance Date Rate Capital Capital Rate Notes Consolidated Port Imperial Garage South $32,600 $32,600 12/1/2029 4.78% $1,163 $4,421 (1) Port Imperial Retail South 4,000 4,000 12/1/2021 4.41% 0 0 Port Imperial Garage North 0 0 0 0 Port Imperial Retail North 0 0 0 0 Consolidated $36,600 $36,600 $1,163 $4,421 Subordinate Interests Shops at 40 Park $6,318 $6,318 8/13/2018 3.63% $0 $0 (2) Riverwalk at Port Imperial 0 0 0 5,878 9.00% Subordinate Interests $6,318 $6,318 $0 $5,878 Total Commercial $42,918 $42,918 $1,163 $10,299 Project Debt Capital Balance Overview

Financial Highlights- In-Construction Communities As of December 31, 2016, Roseland had: Wholly owned or joint venture interests in 2,691 in-construction apartments and 372 hotel keys (10 projects) The in-construction portfolio is projected to produce stabilized NOI of $75.8 million; Roseland’s average ownership is approximately 94% After projected debt service of approximately $33 million, Roseland’s estimated share of net cash flow is approximately $38 million We envision lease-up commencement of Urby at Harborside in Q1 2017 Roseland has a remaining equity capital commitment to the buildout of this portfolio of approximately $95mm (1): 37 Q4 2016 Notes: Net of anticipated construction loans. 233 Canoe Brook (Apts) $36 150 Monument Road 20 RiverHouse 11 at Port Imperial 18 51 Washington Street 16 Other Projects 5 Total $95

Financial Highlights- In-Construction Communities 38 Q4 2016 Notes: Includes temporary advance of $366K. Projected stabilized yield without the hotel project is 6.53 percent. $ in thousands Third Projected Projected Apartment MCRC Party MCRC Initial Project Stabilized Stabilized Community Location Ownership Homes/Keys Costs Debt Capital Capital Costs Capital Start Occupancy Stabilization NOI Yield Consolidated Marriott Hotels at Port Imperial Weehawken, NJ 90.00% 372 129,600 94,000 32,040 3,560 53,911 32,406 (1) Q3 2015 Q2 2018 Q2 2019 13,000 10.03% Residences at City Square Worcester, MA 100.00% 365 92,015 58,000 34,015 0 33,239 32,089 Q3 2015 Q4 2017 Q4 2018 5,942 6.46% Signature Place at Morris Plains Morris Plains, NJ 100.00% 197 58,651 42,000 16,651 0 20,133 16,651 Q4 2015 Q4 2017 Q3 2018 3,894 6.64% Portside 5/6 East Boston, MA 100.00% 296 111,388 73,000 38,388 0 36,553 35,340 Q4 2015 Q2 2018 Q2 2019 6,882 6.18% RiverHouse 11 at Port Imperial Weehawken, NJ 100.00% 295 123,984 78,000 45,984 0 43,380 27,910 Q1 2016 Q1 2018 Q1 2019 7,693 6.20% 51 Washington Street Conshohocken, PA 100.00% 310 89,440 53,664 35,776 0 20,338 20,285 Q3 2016 Q2 2019 Q2 2020 5,370 6.00% 233 Canoe Brook (Apts) Short Hills, NJ 100.00% 200 82,642 43,470 39,172 0 3,082 2,948 Q4 2016 Q3 2019 Q3 2020 6,326 7.65% 150 Monument Road Bala Cynwyd, PA 100.00% 206 59,308 35,585 23,723 0 4,098 3,578 Q4 2016 Q4 2019 Q4 2020 3,643 6.14% Consolidated 98.34% 2,241 $747,028 $477,719 $265,749 $3,560 $214,734 $171,207 $52,750 7.01% Joint Ventures Urby at Harborside Jersey City, NJ 85.00% 763 320,305 192,000 109,059 19,246 301,086 109,059 Q4 2013 Q1 2017 Q4 2018 21,803 6.81% Lofts at 40 Park Morristown, NJ 25.00% 59 17,972 13,950 2,011 2,011 3,286 1,740 Q3 2016 Q1 2018 Q1 2019 1,208 6.72% Joint Ventures 80.69% 822 $338,277 $205,950 $111,070 $21,257 $304,372 $110,799 $23,011 6.80% Total In-Construction Communities 93.60% 3,063 $1,085,305 $683,669 $376,819 $24,817 $519,106 $282,006 $75,761 6.98% (2) Development Schedule Project Capitalization - Total Capital as of 4Q-16

Financial Highlights- In-Construction Communities 39 Q4 2016 Notes: Includes accrued preferred return. We forecast construction loan commitments of approximately $133mm. Subsequent to year-end, RRT closed $13.95mm three year, interest only note at LIBOR plus 250 basis points. $ in thousands Third Apartment Outstanding Maximum Maturity Interest MCRC Party Return Community Ownership Homes/Keys Balance Balance Date Rate Capital Capital Rate Consolidated Marriott Hotels at Port Imperial 90.00% 372 $14,919 $94,000 10/6/2018 L + 4.50% $35,208 $3,914 8.00% Residences at City Square 100.00% 365 0 58,000 12/10/2019 L + 2.50% 32,089 0 Signature Place at Morris Plains 100.00% 197 2,440 42,000 5/20/2019 L + 2.35% 16,651 0 Portside 5/6 100.00% 296 0 73,000 9/19/2019 L + 2.50% 35,340 0 RiverHouse 11 at Port Imperial 100.00% 295 14,073 78,000 11/24/2019 L + 2.35% 27,910 0 51 Washington Street 100.00% 310 0 0 (2) 20,285 0 233 Canoe Brook (Apts) 100.00% 200 0 0 (2) 2,948 0 150 Monument Road 100.00% 206 0 0 (2) 3,578 0 Consolidated 98.34% 2,241 $31,432 $345,000 $174,009 $3,914 Joint Ventures Urby at Harborside 85.00% 763 $155,186 $192,000 8/1/2029 5.197% $109,059 $19,246 Lofts at 40 Park 25.00% 59 0 0 (3) 1,740 1,740 Joint Ventures 80.69% 822 $155,186 $192,000 $110,799 $20,986 Total In-Construction Communities 93.60% 3,063 $186,618 $537,000 $284,808 $24,900 Project Debt Current Capital Balance Overview (1)

As of December 31, 2016 the Company had a future development portfolio of approximately 10,340 apartments. 2017 target starts, representing average target ownership of 78.57%, are located in close proximity to operating RRT assets or in identified premier suburban markets Financial Highlights- 2017 Starts 40 Q4 2016 Notes: Roseland is under negotiations to increase its current 20 percent ownership to 40 percent. Roseland has a signed acquisition agreement, subject to certain conditions. Current Scheduled 2017 Starts Location Apartments Ownership Start PI North - Building C (1) West New York, NJ 363 40.00% Q2 2017 Overlook IIIC Malden, MA 314 100.00% Q3 2017 Freehold (2) Freehold, NJ 400 100.00% Q4 2017 Crystal House - III Arlington, VA 252 50.00% Q4 2017 PI South - Building 8/9 Weehawken, NJ 275 100.00% Q4 2017 2017 Starts 1,604 78.57%

Financial Highlights- Future Start Communities 41 Q4 2016 Notes: Approved for approximately 290,000 square feet of office space. Subsequent to year-end ownership increased from 50 percent to 100 percent. Ownership subject to change based on final negotiation. Current Projected Future Developments Location Apartment Ownership Const Start PI South - Building 16 Weehawken, NJ 131 100.00% Future PI South - Office 1/3 (1) Weehawken, NJ N/A 100.00% Future PI South - Park Parcel Weehawken, NJ 224 100.00% Future Urby at Harborside - II Jersey City, NJ 750 85.00% Future Urby at Harborside - III Jersey City, NJ 750 85.00% Future Plaza 8 (2) Jersey City, NJ 650 50.00% Future Plaza 9 (2) Jersey City, NJ 650 50.00% Future Liberty Landing Phase I Jersey City, NJ 265 50.00% Future Liberty Landing - Future Phases Jersey City, NJ 585 50.00% Future PI South - Building 2 Weehawken, NJ 200 50.00% Future San Remo (3) Jersey City, NJ 250 33.33% Future PI North - Riverbend 6 West New York, NJ 471 20.00% Future PI North - Building I West New York, NJ 224 20.00% Future PI North - Building J West New York, NJ 141 20.00% Future Subtotal - Hudson River Waterfront 5,291 Overlook IIIA Malden, MA 445 100.00% Future Overlook IV Malden, MA 45 100.00% Future Portside 1-4 East Boston, MA 300 100.00% Future Subtotal - Boston Metro 790

Financial Highlights- Future Start Communities (cont.) 42 Q4 2016 Notes: Includes 1,770 Identified Repurposing opportunities, with target transfers in 2017. Current Projected Future Developments Location Apartment Ownership Const Start 233 Canoe Brook Road - Hotel Short Hills, NJ 240 100.00% Future 1633 Littleton (repurposing) Parsippany, NJ 345 100.00% Future Identified Repurposing A Bergen County, NJ 300 100.00% Future Identified Repurposing B Bergen County, NJ 200 100.00% Future Identified Repurposing C Bergen County, NJ 225 100.00% Future Identified Repurposing D Essex County, NJ 300 100.00% Future Identified Repurposing E Westchester County, NY 290 100.00% Future Identified Repurposing F-I Essex County, NJ 140 100.00% Future Identified Repurposing F-2 Essex County, NJ 140 100.00% Future Identified Repurposing G Morris County, NJ 175 100.00% Future Subtotal - Northeast Corridor 2,355 Crystal House - Future Arlington, VA 300 50.00% Future Subtotal - Washington, DC 300 Total Predevelopment and Future Developments (1) 10,340

Definitions 43 Q4 2016 Average Revenue Per Home: Calculated as total apartment revenue for the quarter ended December 31, 2016, divided by the average percent occupied for the quarter ended December 31, 2016, divided by the number of apartments and divided by three. Percentage Leased: The percentage of apartments that are either currently occupied or vacant apartments leased for future occupancy. Consolidated Operating Communities: Wholly owned communities and communities whereby the Company has a controlling interest. Predevelopment Communities: Communities where the Company has commenced predevelopment activities that have a near-term projected project start. Future Development: Represents land inventory currently owned or controlled by the Company. Project Completion: As evidenced by a certificate of completion by a certified architect or issuance of a final or temporary certificate of occupancy. Identified Repurposing Communities: Communities not currently owned by RRT, which have been identified for transfer from Mack-Cali to RRT for residential repurposing. Project Stabilization: Lease-Up communities that have achieved over 95 Percentage Leased for six consecutive weeks. In-Construction Communities: Communities that are under construction and have not yet commenced initial leasing activities. Projected Stabilized NOI: Pro forma NOI for Lease-Up, In-Construction or Future Development communities upon achieving Project Stabilization Lease-Up Communities: Communities that have commenced initial operations but have not yet achieved Project Stabilization. Projected Stabilized Yield: Represents Projected Stabilized NOI divided by Total Costs. MCRC Capital: Represents cash equity that the Company has contributed or has a future obligation to contribute to a project. Repurposing Communities: Commercial holdings of the Company which have been targeted for rezoning from their existing office to new multi-family use and have a likelihood of achieving desired rezoning and project approvals. Net Asset Value (NAV): We consider NAV to be a useful metric for investors to estimate the fair value of the Roseland platform. The metric represents the net projected value of the Company’s interest after accounting for all priority debt and equity payments. The metric includes capital invested by the Company. Subordinated Joint Ventures: Joint Venture communities where the Company's ownership distributions are subordinate to payment of priority capital preferred returns. Net Operating Income (NOI): Total property revenues less real estate taxes, utilities and operating expenses. Third Party Capital: Capital invested other than MCRC Capital. Operating Communities: Communities that have achieved Project Stabilization. Total Costs: Represents full project budget, including land and developer fees, and interest expense through Project Completion.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS The Company considers portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “target”, “continue” or comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which we cannot predict with accuracy and some of which we might not even anticipate. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, the Company can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Among the factors about which the Company has made assumptions are: -risks and uncertainties affecting the general economic climate and conditions, which in turn may have a negative effect on the fundamentals of the Company’s business and the financial condition of the Company’s tenants and residents; -the value of the Company’s real estate assets, which may limit the Company’s ability to dispose of assets at attractive prices or obtain or maintain debt financing secured by our properties or on an unsecured basis; -the extent of any tenant bankruptcies or of any early lease terminations; -The Company’s ability to lease or re-lease space at current or anticipated rents; -changes in the supply of and demand for the Company’s properties; -changes in interest rate levels and volatility in the securities markets; -The Company’s ability to complete construction and development activities on time and within budget, including without limitation obtaining regulatory permits and the availability and cost of materials, labor and equipment; -forward-looking financial and operational information, including information relating to future development projects, potential acquisitions or dispositions, and projected revenue and income; -changes in operating costs; -The Company’s ability to obtain adequate insurance, including coverage for terrorist acts; -The Company’s credit worthiness and the availability of financing on attractive terms or at all, which may adversely impact our ability to pursue acquisition and development opportunities and refinance existing debt and the Company’s future interest expense; -changes in governmental regulation, tax rates and similar matters; and -other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants or residents will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact us and the statements contained herein, see Item 1A: Risk Factors in MCRC’s Annual Report on Form 10-K for the year ended December 31, 2015. We assume no obligation to update and supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise. This Supplemental Operating and Financial Data is not an offer to sell or solicitation to buy any securities of the Mack-Cali Reality Corporation (“MCRC”). Any offers to sell or solicitations of the MCRC shall be made by means of a prospectus. The information in this Supplemental Package must be read in conjunction with, and is modified in its entirety by, the Annual on Form 10-K (the “10-K”) filed by the MCRC for the same period with the Securities and Exchange Commission (the “SEC”) and all of the MCRC’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-K, the footnotes thereto and the limitations set forth therein. Investors may not rely on the Supplemental Package without reference to the 10-K and the Public Filings. Any investors’ receipt of, or access to, the information contained herein is subject to this qualification. 44 Q4 2016

Q4 2016

Veris Residential (VRE) 8-KResults of Operations and Financial Condition