Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 60

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 60
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 months ended March 31, 2024, the remaining 15,700 Series A Preferred Units were redeemed for cash at the stated value. At March 31, 2025, there were 9,213 Series A-1 Preferred Units outstanding.Summary of Redeemable Noncontrolling InterestsThe following tables set forth the changes in Redeemable noncontrolling interests within the mezzanine section for the three months ended March 31, 2025 and 2024, respectively (dollars in thousands):SeriesA-1 Preferred UnitsIn VRLPBalance at January 1, 2025$9,294Income Attributed to Noncontrolling Interests81Distributions(81)Balance at March 31, 2025$9,294

29

Series A andA-1 Preferred UnitsIn VRLPBalance at January 1, 2024$24,999Redemption/Payout(15,700)Income Attributed to Noncontrolling Interests297Distributions(302)Balance at March 31, 2024$9,294

14.    VERIS RESIDENTIAL, INC. STOCKHOLDERS’ EQUITY AND VERIS RESIDENTIAL, L.P.’S PARTNERS’ CAPITAL

Partners’ Capital in the accompanying consolidated financial statements relates to (a) General Partners’ capital consisting of common units in the Operating Partnership held by the General Partner, and (b) Limited Partners’ capital consisting of common units and Long Term Incentive Performance Units ("LTIP Units") held by the limited partners. See Note 15: Noncontrolling Interests in Subsidiaries.The following table reflects the activity of the General Partner capital for the three months ended March 31, 2025 and 2024, respectively (dollars in thousands):Three Months EndedMarch 31,20252024Opening Balance $1,099,391$1,137,478Net income (loss) available to common shareholders(10,699)(3,903)Shares issued under ATM Program, net— (55)Common stock distributions(7,550)(4,984)Redemption of common units for common stock509 — Shares issued under Dividend Reinvestment and Stock Purchase Plan21Directors' deferred compensation plan9899Stock Compensation3,3224,200Cancellation of common stock(3,923)(1,534)Other comprehensive income (loss)(1,011)998Rebalancing of ownership percent