Company: VRE
Filing Date: 2025-10-22
Form Type: 10-Q
Source: 0001628280-25-045884
Chunk: 126

Company: Veris Residential, Inc.
Filing Date: 2025-10-22
Form: 10-Q
Item: Part I, Item 8
Chunk 126
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FR+1.41 %110,000 110,000 06/21/27Quarry Place at Tuckahoe (f)Natixis Real Estate Capital LLC 4.48 %— 41,000 08/05/27BLVD 475The Northwestern Mutual Life Insurance Co. 2.91 %162,088 164,712 11/10/27Haus25Freddie Mac6.04 %343,061 343,061 09/01/28RiverHouse 11 at Port ImperialThe Northwestern Mutual Life Insurance Co. 4.52 %100,000 100,000 01/10/29Sable (g)Pacific Life5.20 %181,544 — 08/01/29Port Imperial South 4/5 GarageAmerican General Life & A/G PC 4.85 %30,670 31,098 12/01/29The Emery at Overlook Ridge (h)Flagstar Bank 3.21 %69,522 70,653 01/01/31Principal balance outstanding $1,411,069 $1,333,966  Unamortized deferred financing costs (8,532)(10,492)    Total mortgages, loans payable and other obligations, net $1,402,537 $1,323,474  (a)Reflects effective rate of debt, including deferred financing costs, comprised of debt initiation costs, and other transaction costs, as applicable.(b)In June 2024, the lender terminated the Company's payment guarantee of 10 percent of the outstanding principal.(c)As of September 30, 2025, this mortgage was fully repaid and the corresponding interest-rate cap was terminated.(d)As of September 30, 2025, this mortgage is hedged with an interest-rate cap with a strike rate of 3.5%, expiring in November 2026. (e)As of September 30, 2025, this mortgage is hedged with an interest-rate cap with a strike rate of 3.5%, expiring in July 2026.(f)In September 2025, the Company sold the property encumbered by this mortgage, simultaneously assigning the mortgage to the purchaser.  See Note 3: Investments in Rental Properties for more information.(g)The Company consolidated its interest in Sable on April 21