Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 92

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 1
Chunk 92
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$183,786 $15,152 8.2 %Parking income12,018 11,570448 3.9 Other income4,161 5,048(887)(17.6)Total revenues from rental operations215,117 200,404 14,713 7.3 Property expenses:Real estate taxes29,446 27,251 2,195 8.1 Utilities7,292 6,1961,096 17.7 Operating services36,688 35,354 1,334 3.8 Total property expenses73,426 68,801 4,625 6.7 Non-property revenues:Management fees2,007 2,587 (580)(22.4)Total non-property revenues2,007 2,587 (580)(22.4)Non-property expenses:Property management12,734 13,370(636)(4.8)General and administrative28,190 29,019(829)(2.9)Transaction related costs3,428 1,4062,022 143.8 Depreciation and amortization64,797 61,5923,205 5.2 Land and other impairments, net15,667 2,619 13,048 498.2 Total non-property expenses124,816 108,006 16,810 15.6 Operating profit18,882 26,184 (7,302)(27.9)Other (expense) income:Interest expense(69,804)(64,683)(5,121)7.9 Interest and other investment income 268 2,255 (1,987)(88.1)Equity in earnings (losses) of unconsolidated joint ventures4,708 2,9191,789 61.3 Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net84,160 —84,160 (100.0)Gain (loss) on disposition of developable land35,292 11,515 23,777 206.5 Gain (loss) on sale of unconsolidated joint venture interests5,122 7,100 (1,978)(27.9)Gain (loss) from extinguishment of debt, net(3,212)(777)(2,435)313