Company: VRE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000924901-25-000011
Chunk: 157

Company: Veris Residential, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 7
Chunk 157
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, as of the taxable year ended December 31, 2023, the most recent year for which tax returns have been

filed, has net operating losses of $240.0 million.

Dividends declared (on a per share basis) for the year ended December 31, 2024 were as follows:

Date of DeclarationDate of RecordDate of PaymentDividend DeclaredFebruary 27, 2024April 3, 2024April 16, 2024$0.0525May 6, 2024July 3, 2024July 16, 2024$0.0600August 5, 2024September 30, 2024October 16, 2024$0.0700November 13, 2024December 31, 2024January 10, 2025$0.0800

Debt Financing

Debt Strategy 

The Company has historically utilized a combination of corporate and property level indebtedness. The Company will seek to refinance or retire its debt obligations at maturity with available proceeds received from the Company’s planned non-strategic asset sales, as well as with new corporate or property level indebtedness on or before the applicable maturity dates. 

Debt Summary

The following is a breakdown of the Company’s debt between fixed and variable-rate financing as of December 31, 2024:

  Balance($000’s)% of Total Weighted AverageInterest RateWeighted AverageMaturity in YearsFixed Rate & Hedged Debt, including Term Loan and Revolving Credit Facility (a)$1,683,966 99.88 %5.05 %2.76 Unhedged portion of Revolving Credit Facility2,000 0.12 %7.08 %2.31 Totals/Weighted Average:$1,685,966 100.00 %5.05 %2.76 Unamortized deferred financing costs (b)(13,653)Total Debt, Net$1,672,313 

(a)Includes debt with interest rate caps outstanding with a notional amount of $591.5 million.

(b)Excludes $4.7 million of unamortized deferred financing costs recorded in Deferred charges and other assets, net, pertaining to the Company's Revolving Credit Facility as of December 31, 2024.

31

Debt Maturities

Scheduled principal payments and related weighted average annual effective interest rates for