Company: VRE
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000924901-25-000028
Chunk: 34

Company: Veris Residential, Inc.
Filing Date: 2025-04-23
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 except per unit amounts) (unaudited)

ASSETSMarch 31,2025December 31,2024Rental propertyLand and leasehold interests$456,789$458,946Buildings and improvements2,627,1492,634,321Tenant improvements15,06714,784Furniture, fixtures and equipment113,997112,2013,213,0023,220,252Less – accumulated depreciation and amortization(451,540)(432,531)2,761,4622,787,721Real estate held for sale, net9,1387,291Net investment in rental property2,770,6002,795,012Cash and cash equivalents7,5967,251Restricted cash14,51217,059Investments in unconsolidated joint ventures111,607111,301Unbilled rents receivable, net2,4092,253Deferred charges and other assets, net43,68048,476Accounts receivable1,1691,375Total assets$2,951,573$2,982,727LIABILITIES AND EQUITYRevolving credit facility and term loans$345,172$348,839Mortgages, loans payable and other obligations, net1,322,0361,323,474Dividends and distributions payable8,4858,533Accounts payable, accrued expenses and other liabilities40,64842,744Rents received in advance and security deposits11,52911,512Accrued interest payable5,2325,262Total liabilities1,733,1021,740,364Commitments and contingenciesRedeemable noncontrolling interests9,2949,294Partners’ Capital:General Partner, 93,311,881 and 92,912,253 common units outstanding1,017,0451,035,795Limited partners, 8,619,943 and 8,672,247 common units/LTIPs outstanding164,112166,030Accumulated other comprehensive income(857)154Total Veris Residential, L.P. partners’ capital1,180,3001,201,979Noncontrolling interests in consolidated joint ventures28,87731,090Total equity1,209,1771,233,069Total liabilities and equity$2,951,573$2,982,727

The accompanying notes are an integral part of these consolidated financial statements.

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Table of ContentsVERIS RESIDENTIAL, L.P.