Mack-Cali Realty Corporation provided earnings guidance for 2014. The company provided initial 2014 guidance in the range of a $1.90 to $2.10 per share in a press release on December 23, 2013. The major assumptions at the midpoint of guidance were: Sales.

The company expects non-core office property sales totaling $450 million, $100 million to close around the end of the first quarter at a cap rate of 6% and an additional $350 million to close at the end of the third quarter at a cap rate of about 8%. The company expects interest expense in 2014 to be approximately a $110 million, anticipating a reduction of approximately $13 million. Half of the reduction is attributable to lower average debt balances projected for 2014 primarily using cash on hand to repay $200 million in bonds which mature next month; and the other half resulting from higher capitalized interest from increased investment and development projects.