Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 2

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 2
Chunk 2
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9,177 35 0.4 Utilities2,807 2,271536 23.6 Operating services10,993 12,570 (1,577)(12.5)Total property expenses23,012 24,018 (1,006)(4.2) Non-property revenues:Management fees718 922 (204)(22.1)Total non-property revenues718 922 (204)(22.1)Non-property expenses:Property management4,385 5,242(857)(16.3)General and administrative10,068 11,088(1,020)(9.2)Transaction related costs308 516(208)(40.3)Depreciation and amortization21,253 20,1171,136 5.6 Land and other impairments, net3,200 — 3,200 100.0 Total non-property expenses39,214 36,963 2,251 6.1 Operating profit5,530 6,359 (829)(13.0)Other (expense) income:Interest expense(22,960)(21,500)(1,460)6.8 Interest and other investment income 25 538(513)(95.4)Equity in earnings (losses) of unconsolidated joint ventures3,842 2543,588 1412.6 Gain (loss) on disposition of developable land(156)784(940)(119.9)Gain (loss) on sale of unconsolidated joint venture interests— 7,100(7,100)(100.0)Other income (expense), net(105)255 (360)(141.2)Total other (expense) income, net(19,354)(12,569)(6,785)54.0 Income (loss) from continuing operations before income tax expense(13,824)(6,210)(7,614)122.6 Provision for income taxes(42)(59)17 (28.8)Income (loss) from continuing operations after income tax expense(13,866)(6,269)(7,597)121.2 Discontinued operations:Income (loss) from discontinued operations136 252 (116)(46.0)Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net— 1