Mack-Cali Realty Corp. is selling its portfolio of offices and hotels as it pivots to owning apartment buildings.
The Jersey City-based real estate investment trust is targeting more than $1 billion for four office buildings and two hotels in New Jersey, according to a person familiar with the matter.
That includes office properties at Jersey City’s Harborside development, where Amazon.com Inc. was close to signing a major lease before the deal fell apart last month.
Mack-Cali, which faced pressure from activist investors, has overhauled its leadership as it shifts away from suburban offices toward apartment buildings.
“We believe that continuing to focus and ultimately becoming a pure-play
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