Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 115

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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082 $35,292 (a) Net carrying value reflects previously recorded impairment charges of $2.6 million.(b) This property was owned through a consolidated joint venture; the amounts presented in this table reflect the Company’s consolidated balances.(c) Net carrying value reflects previously recorded impairment charges of $3.2 million.The Company disposed of the following rental property during the nine months ended September 30, 2024 (dollars in thousands):DispositionDatePropertyLocationRentableSquareFeetProperty TypeNetSalesProceedsNetCarryingValueDiscontinued Operations: Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net03/20/24Harborside 5Jersey City, NJ977,225Office$81,515 $81,228 $287 Others (a)1,261 Totals  $81,515 $81,228 $1,548 (a) Others represent resolution of estimated accrued expenses from various previously sold rental properties.The Company disposed of the following developable land holdings during the nine months ended September 30, 2024 (dollars in thousands):

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DispositionDatePropertyLocationNetSalesProceedsNetCarryingValueGain (loss) on disposition of developable land01/03/242 CampusParsippany-Troy Hills, NJ$10,155 $9,371 $784 04/16/24107 MorganJersey City, NJ50,630 50,929 (a)(299)04/30/246 Becker Farm / 85 LivingstonRoseland, NJ27,985 16,955 11,030 Totals  $88,770 $77,255 $11,515 (a) Carrying value reflects previously recorded impairment charges of $10.5 million.Dispositions of Unconsolidated Joint VenturesIn April 2025, the Company sold its interest in The Metropolitan at 40 Park multifamily rental property in Morristown, New Jersey for $0.5 million. The Company recorded a gain on sale of its interest of approximately $0.2 million during the nine months ended September 30, 2025.In April 2025, the Company sold its interest in the PI North developable land parcels in West New York, New Jersey for $6.6 million. The Company recorded a gain on sale of its interest of approximately $4.9 million during