Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 101

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 1
Chunk 101
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5 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) million and zero for the three months ended September 30, 2025 and 2024, respectively, and  $35.9 million and $11.5 million for the nine months ended September 30, 2025 and 2024, respectively.

These balances are included in the calculation to arrive at funds from operations as such charges relate to non-depreciable assets.

(b)Includes the Company’s share from unconsolidated joint ventures, and adjustments for noncontrolling interests of $0.5 million and $