Jersey City, NJ-based Mack-Cali Realty Corp. promoted Michael J. DeMarco to CEO and Mitchell Rudin will become vice chairman, a newly created position. DeMarco, who previously served as president, will assume day-to-day leadership of the business as it continues to undergo a transformation. The changes are effective immediately.
DeMarco said, “Given the strong success of Mack-Cali over the last two years under our leadership, the company is well positioned to continue its strategic evolution.” The REIT continues to grow its dual, office and multi-family platform focused on the Hudson River Waterfront and transit-based markets.
DeMarco, who joined Mack-Cali in 2015 as president and COO, has more than 30 years of CRE industry experience. Previous leadership roles have included positions at Vornado Realty Trust, Fortress Investments, and Lehman Brothers Real Estate Investment Banking Group.
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