Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 147

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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 should be read in conjunction with the Company’s audited Annual Report on Form 10-K for the year ended December 31, 2024, as certain disclosures in this Quarterly Report on Form 10-Q that would duplicate those included in the 10-K are not included in these financial statements.

42

Results From Operations

The following comparisons for the three and nine months ended September 30, 2025 ("2025"), as compared to the three and nine months ended September 30, 2024 ("2024"), make reference to the following: 

i.“Same-Store Properties,” which represent all in-service properties owned by the Company at December 31, 2024 excluding properties acquired or sold from January 1, 2024 through September 30, 2025; 

ii.“Acquired and Sold Properties,” which represent all properties acquired or sold by the Company from January 1, 2024 through September 30, 2025.

43

Three Months Ended September 30, 2025 Compared to Three Months Ended September 30, 2024

(dollars in thousands)Three Months Ended September 30,DollarChangePercent Change 20252024Revenue from rental operations and other:Revenue from leases$67,625 $62,227 $5,398 8.7 %Parking income3,893 3,903(10)(0.3)Other income1,399 1,251148 11.8 Total revenues from rental operations72,917 67,381 5,536 8.2 Property expenses:Real estate taxes10,129 8,572 1,557 18.2 Utilities2,382 2,129253 11.9 Operating services12,808 10,156 2,652 26.1 Total property expenses25,319 20,857 4,462 21.4  Non-property revenues:Management fees523 794 (271)(34.1)Total non-property revenues523 794 (271)(34.1)Non-property expenses:Property management4,261 3,762499 13.3 General and administrative8,517 8,956(439)(4.9)Transaction related costs1,550 — 1,550 100.0 Depreciation and amortization21,073 21,159(86)(0.4)Land and other impairments, net—