Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 143

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 143
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142,075 Net income (loss)6,089 (1,215)3,997 (1,968)Unit distributions(691)(613)(2,070)(1,591)Redeemable noncontrolling interests(81)(81)(243)(459)Change in noncontrolling interests in consolidated joint ventures(18,749)(486)(19,278)(1,628)Redemption of common units for common stock(70)(22)(609)(135)Redemption of common units(308)— (456)— Other comprehensive income (loss)23 (411)(78)(389)Rebalancing of ownership percentage between parent and subsidiaries290 83 32 (2)Balance at September 30$114,973 $135,903 $114,973 $135,903 Pursuant to ASC 810, Consolidation, on the accounting and reporting for noncontrolling interests and changes in ownership interests of a subsidiary, changes in a parent’s ownership interest (and transactions with noncontrolling interests unitholders in the subsidiary) while the parent retains its controlling interest in its subsidiary should be accounted for as equity transactions. The carrying value of the noncontrolling interests shall be adjusted to reflect the change in its ownership interest in the subsidiary, with the offset to equity attributable to the parent. Accordingly, as a result of equity transactions which caused changes in ownership percentages between Veris Residential, Inc. stockholders’ equity and noncontrolling interests in the Operating Partnership that occurred during the nine months ended September 30, 2025, the Company has increased noncontrolling interests in the Operating Partnership and decreased additional paid-in capital in Veris Residential, Inc. stockholders’ equity by approximately $32 thousand as of September 30, 2025.NONCONTROLLING INTERESTS IN OPERATING PARTNERSHIP (applicable only to General Partner)Common UnitsDuring the three months ended September 30, 2025, the Company redeemed 4,917 common units for common shares, at their fair value of $70 thousand, and redeemed 20,744 common units for cash, at their fair value of $0.3 million.  During 

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the nine months ended September 30, 2025, the Company redeemed 50,530 common units for common shares, at their fair value of $0.6 million, and redeemed 30,015 common units for cash, at their fair value of $0.5