Mack-Cali Realty Names CEO
- Mar 04, 2021
Mack-Cali Realty Corp.’s board of directors has named Mahbod Nia as the new CEO of the company, effective March 8. Nia will succeed interim CEO MaryAnne Gilmartin, who will step down from her provisional role and serve as special advisor in the transfer of responsibilities. Additionally, the board appointed Lead Independent Director Tammy Jones as chair, also replacing Gilmartin.
Nia has been with the company since June 2020 as non-executive director. He brings more than two decades of real estate experience to his new role. Prior to joining Mack-Cali, he served as CEO of NorthStar Realty Europe Corp.—another NYSE-listed REIT—where he also served as a member of the investment committee and board of directors.
Mack-Cali tapped Gilmartin for her provisional role in July 2020, succeeding Michael DeMarco. The company’s latest statement shows that Gilmartin will not run for re-election as chair at the upcoming annual meeting of shareholders, through which she will remain director. Eventually, Gilmartin will return to her role as CEO of MAG Partners.
Decades of experience
During his tenure at NRE, Nia led a strategic transformation that resulted in per-share net asset value growth of more than 40 percent. Earlier, he served as managing director & head of European investments at NorthStar Asset Management Group, where he later oversaw the platform’s 2015 spinoff to create NRE. Nia has also held positions with Colony Capital, Goldman Sachs and Citigroup.
Jones brings more than 25 years of experience to her role as board chair. Currently the co-founder & CEO of Basis Investment Group, she also serves as an independent director with Crown Castle International Corp. and KKR Real Estate Select Trust and leads the Real Estate Executive Council trade association.
Mack-Cali owns, manages and develops office and multifamily properties in a number of waterfront and transit-oriented markets throughout New Jersey. Last October, the REIT assembled a team of industry experts to complete the repositioning of Harborside, a 4.3 million-square-foot mixed-use office campus on the Jersey City, N.J. waterfront.