Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 45

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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069Total liabilities and equity$3,126,980$2,982,727

The accompanying notes are an integral part of these consolidated financial statements.

12

Table of ContentsVERIS RESIDENTIAL, L.P. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per unit amounts) (unaudited)

Three Months EndedJune 30,Six Months EndedJune 30,REVENUES2025202420252024Revenue from leases$69,348 $60,917 $131,313 $121,559 Management fees766 871 1,484 1,793 Parking income4,376 3,922 8,125 7,667 Other income1,438 1,766 2,762 3,797 Total revenues75,928 67,476 143,684 134,816 EXPENSESReal estate taxes10,105 9,502 19,317 18,679 Utilities2,103 1,796 4,910 4,067 Operating services12,887 12,628 23,880 25,198 Property management4,088 4,366 8,473 9,608 General and administrative9,605 8,975 19,673 20,063 Transaction related costs1,570 890 1,878 1,406 Depreciation and amortization22,471 20,316 43,724 40,433 Land and other impairments, net12,467 — 15,667 — Total expenses75,296 58,473 137,522 119,454 OTHER (EXPENSE) INCOMEInterest expense(24,604)(21,676)(47,564)(43,176)Interest and other investment income70 1,536 95 2,074 Equity in earnings (losses) of unconsolidated joint ventures526 2,933 4,368 3,187 Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net(6,877)— (6,877)— Gain (loss) on disposition of developable land36,566 10,731 36,410 11,515 Gain (loss) on sale of unconsolidated joint venture interests5,122 — 5,122