Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 44

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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 financial statements. 

11

Table of ContentsVERIS RESIDENTIAL, L.P. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS (in thousands, except per unit amounts) (unaudited)

ASSETSJune 30,2025December 31,2024Rental propertyLand and leasehold interests$442,566$458,946Buildings and improvements2,611,2762,634,321Tenant improvements16,14514,784Furniture, fixtures and equipment112,424112,2013,182,4113,220,252Less – accumulated depreciation and amortization(475,073)(432,531)2,707,3382,787,721Real estate held for sale, net288,5757,291Net investment in rental property2,995,9132,795,012Cash and cash equivalents11,4387,251Restricted cash18,58117,059Investments in unconsolidated joint ventures53,618111,301Unbilled rents receivable, net3,2522,253Deferred charges and other assets, net43,05948,476Accounts receivable1,1191,375Total assets$3,126,980$2,982,727LIABILITIES AND EQUITYRevolving credit facility and term loans$324,513$348,839Mortgages, loans payable and other obligations, net1,459,9641,323,474Liabilities held for sale, net40,862—Dividends and distributions payable8,5298,533Accounts payable, accrued expenses and other liabilities50,26242,744Rents received in advance and security deposits13,18511,512Accrued interest payable5,8065,262Total liabilities1,903,1211,740,364Commitments and contingenciesRedeemable noncontrolling interests9,2949,294Partners’ Capital:General Partner, 93,422,978 and 92,912,253 common units outstanding1,022,7941,035,795Limited partners, 8,617,363 and 8,672,247 common units/LTIPs outstanding164,422166,030Accumulated other comprehensive income(938)154Total Veris Residential, L.P. partners’ capital1,186,2781,201,979Noncontrolling interests in consolidated joint ventures28,28731,090Total equity1,214,5651,233,