Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 76

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 on or before the applicable maturity dates.

Debt Summary

The following is a breakdown of the Company’s debt between fixed and variable-rate financing as of March 31, 2025:

Balance($000’s)% of Total Weighted AverageInterest RateWeighted AverageMaturity in YearsFixed Rate & Hedged Debt, including Term Loan and Revolving Credit Facility (a)$1,679,673 100.0 %5.05 %2.51Unamortized deferred financing costs (b)(12,465)Total Debt, Net$1,667,208 

(a)Includes debt with interest rate caps outstanding with a notional amount of $591.5 million.

(b)Excludes $4.2 million of unamortized deferred financing costs recorded in Deferred charges and other assets, net, pertaining to the Company's Revolving Credit Facility as of March 31, 2025.

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Debt Maturities

Scheduled principal payments and related weighted average annual effective interest rates for the Company’s debt as of March 31, 2025 are as follows:

PeriodScheduledAmortization($000’s)PrincipalMaturities($000’s)Total($000’s)Weighted Avg.Effective Interest Rate ofFuture Repayments2025$7,125 $— $7,125 3.68 %20267,879 467,904 475,783 4.65 20275,326 653,318 658,644 5.10 20282,396 343,061 345,457 6.03 20292,289 127,792 130,081 4.58 Thereafter1,771 60,812 62,583 3.21 Sub-total26,786 1,652,887 1,679,673 5.05 Unamortized deferred financing costs (a)(12,465)— (12,465)Totals/Weighted Average$14,321 $1,652,887 $1,667,208 5.05 %

(a)Excludes $4.2 million of unamortized deferred financing costs recorded in Deferred charges and other assets, net, pertaining to the Company's Revolving Credit Facility as of March 31, 2025.

Unencumbered Properties

As of March 31, 2025, the Company had two unencumbered properties with