Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 79

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 79
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ization on continuing operations (a)23,445 22,631 Real estate-related depreciation and amortization on discontinued operations— 668 Continuing operations: (Gain) loss on sale from unconsolidated joint ventures— (7,100)Discontinued operations: Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net— (1,548)Funds from operations available to common stock and Operating Partnership unitholders (b)$11,759 $10,380 

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(a)Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interests of $2.3 million and $2.7 million for the three months ended March 31, 2025 and 2024, respectively. Excludes non-real estate-related depreciation and amortization of $0.2 million for the three months ended March 31, 2025 and 2024, respectively.

(b)Net loss available to common shareholders included $3.2 million and zero of land impairment charges for the three months ended March 31, 2025 and 2024.  Net loss available to common shareholders also included $0.2 million loss on disposition of developable land for the three months ended March 31, 2025 and a $0.8 million gain for the three months ended March 31, 2024.  These balances are included in the calculation to arrive at funds from operations as such charges relate to non-depreciable assets.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

We consider portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “target,” “continue” or comparable terminology. Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which we cannot predict with accuracy