Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 90

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 1
Chunk 90
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,544 (11,113)88,657 (797.8)Discontinued operations:Income (loss) from discontinued operations3,782 206 3,576 1,735.9 Total discontinued operations, net3,782 206 3,576 1,735.9 Net income (loss)$81,326 $(10,907)$92,233 (845.6)%

44

The following is a summary of the changes in revenue from rental operations and other, and property expenses in 2025, as

compared to 2024, divided into Same-Store Properties, Acquired and Sold Properties (excluding properties classified as discontinued operations):

(dollars in thousands)TotalCompanySame-StorePropertiesAcquired and Sold PropertiesDollarChangePercent ChangeDollarChangePercentChangeDollarChangePercentChangeRevenue from rental operations and other:Revenue from leases$5,398 8.7 %$1,176 1.9 %$4,222 6.8 %Parking income(10)(0.3)(48)(1.2)38 1.0 Other income148 11.8 120 9.6 28 2.2 Total$5,536 8.2 %$1,248 1.9 %$4,288 6.4 %Property expenses:Real estate taxes$1,557 18.2 %$787 9.2 %$770 9.0 %Utilities253 11.9 126 5.9 127 6.0 Operating services2,652 26.1 1,920 18.9 732 7.2 Total$4,462 21.4 %$2,833 13.6 %$1,629 7.8 %OTHER DATA:Number of Consolidated Properties16155Multifamily portfolio (number of units)5,3864,6241,672

Revenue from leases. Revenue from leases from Same-Store properties increased $1.2 million, or 1.9 percent, due primarily to an increase in market rental rates.

Real estate taxes. Real estate taxes from Same-Store properties increased  $0.8 million, or 9.2 percent, due primarily to an increase in tax rates and increased PILOT taxes based on higher revenues in 2025.

Operating services.