William Mack, W '61
2008 Joseph Wharton Award for Lifetime Achievement
|William Mack, W ’61
Founder and Managing Partner
Apollo Real Estate Advisors
For the past 50 years, William L. Mack has been putting together real estate deals, financing, developing and revitalizing projects in the United States and around the globe. Starting with a single five and a half acre site in North Bergen, New Jersey, he and his companies have now built, acquired or invested in tens of millions of square feet of office buildings, residential, retail and industrial properties and hotels in 20 countries.
In New York, where he was the co-developer through Apollo Real Estate Advisors, of the dramatic new Time Warner Center at Columbus Circle, he has also been one of the city’s key civic leaders. His work on behalf of the city and state includes his participation in the 42nd Street Redevelopment as a member of the Empire State Development Corporation (formerly the Urban Development Corporation); his critical role as Chairman of the entity that completed construction and ultimately turned around the once-troubled Jacob K. Javits Convention Center project; and his leadership as the first Chairman of the Long Island Power Authority at a time when issues related to the Shoreham power plant caused major upheaval in that community’s energy market.
A product of New York’s public schools, Mr. Mack graduated from Brooklyn Technical High School in 1957. He studied engineering at the University of Pennsylvania and business and finance at the Wharton School, before graduating in 1962 from New York University’s School of Business with a degree in Business Administration.
After serving in the Air Force, he began his real estate career in the early 1960s, starting with that single North Bergen property, which his company still owns today. Over the next few years, he became a significant developer, building over 10 million square feet of industrial, distribution and warehouse space throughout New Jersey. In the 1970s, he was one of the pioneers in the development of large, suburban office buildings, virtually creating a new segment of the real estate market and providing new alternatives for some of the region’s largest companies.
Over the succeeding decades, as the economy has seen peaks and valleys, Mr. Mack’s real estate horizons have continued to expand, to include holdings in New York, New Jersey, Florida, Arizona and Texas in the US and in countries around the world.
In 1993, he launched the first Apollo Real Estate Investment Fund, now a series of funds and real estate investments, which have raised $12 billion in equity and invested approximately $50 billion in properties around the world, including the United States, United Kingdom, France, the Netherlands, Germany, Belgium, Russia, Poland, Hungary, the Czech Republic and Estonia. The Funds’ investments include office and retail facilities, hotels, multi-family residential properties, mortgage securities, housing companies, land investments and private real estate companies.
He is Chairman of Mack – Cali Realty Corporation, a publicly traded Real Estate Investment Trust (REIT), a position he assumed after serving as Chairman of the company’s Executive Committee since 1997. Mack – Cali has a total market capitalization of approximately $5 billion and owns and operates a portfolio of Class A office and office/flex buildings located principally in suburban New York, New Jersey and Connecticut.
The Mack Organization, founded in 1963, continues today to develop and invest in warehouse facilities in locations around the United States.
Known for his integrity, intelligence and insightful approach to business, Mr. Mack has also been a leading philanthropist. He is the Vice Chair of the University of Pennsylvania Board of Trustees, and serves on the Executive Committee and the Board of Overseers of the Wharton School. He has also founded the Mack Center for Technological Innovation at Wharton, a program to help companies develop the best strategies to compete and succeed in industries being transformed by emerging technologies.
Mr. Mack currently serves as the Chairman of the Board of the Solomon R. Guggenheim Foundation, a Board Member of the Regional Advisory Board of JP Morgan Chase. He is also on the Executive Committee and is a Vice Chairman of the Board of North-Shore Long Island Jewish Health System. His business acumen is well recognized in his service on a number of corporate boards, including a former Director of Wyndham International, Inc., a former Director of The Bear Stearns Companies, Inc., and a former Director of Vail Resorts, Inc.
He lives in New York, with his wife of over 44 years, Phyllis. They have two sons, Richard and Stephen, and three grandchildren.