Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 14

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 2
Chunk 14
---
FO is comparable to the FFO of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts (“NAREIT”).

As the Company considers its primary earnings measure, net income available to common shareholders, as defined by GAAP, to be the most comparable earnings measure to FFO, the following table presents a reconciliation of net income 

53

available to common shareholders to FFO, as calculated in accordance with NAREIT’s current definition, for the three and nine months ended September 30, 2025 and 2024 (in thousands):

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Net income (loss) available to common shareholders (a)$75,237 $(9,692)$75,442 $(10,673)Add (deduct): Noncontrolling interests in Operating Partnership6,596 (923)6,607 (1,293)Noncontrolling interests in discontinued operations319 18 328 295 Real estate-related depreciation and amortization on continuing operations (b)21,395 23,401 68,071 68,547 Real estate-related depreciation and amortization on discontinued operations— — — 668 Continuing operations: (Gain) loss on sale from unconsolidated joint ventures— — (5,122)(7,100)Continuing operations: Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net(91,037)— (84,160)— 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$12,510 $12,804 $61,166 $48,896 

(a)Includes land impairment charges, after allocations to Noncontrolling interests in consolidated joint ventures, of zero and $2.6 million for the three months ended September 30, 2025 and 2024, respectively, and $14.1 million and $2.6 million for the nine months ended September 30, 2025 and 2024, respectively.

Also includes gains (losses) on disposition of developable land, after allocations to Noncontrolling interests in consolidated joint ventures, of $(0.6)