Company: VRE
Filing Date: 2025-07-23
Form Type: 10-Q
Source: 0000924901-25-000051
Chunk: 56

Company: Veris Residential, Inc.
Filing Date: 2025-07-23
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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04/03/25Wall LandWall Township, NJ30,152 4,116 26,036 04/29/251 Water StreetWhite Plains, NY15,563 5,033 10,530 Totals  $52,854 $16,444 $36,410 (a) Carrying value reflects previously recorded impairment charges of $2.6 million.The Company disposed of the following rental properties during the six months ended June 30, 2024 (dollars in thousands):DispositionDatePropertyLocation# ofBldgs.RentableSquareFeetProperty TypeNetSalesProceedsNetCarryingValueDiscontinued Operations: Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net03/20/24Harborside 5Jersey City, New Jersey1977,225Office$81,515 $81,228 $287 Others (a)1,261 Totals  $81,515 $81,228 $1,548 (a) Others represent resolution of estimated accrued expenses from various previously sold rental properties.The Company disposed of the following developable land holding during the six months ended June 30, 2024 (dollars in thousands):DispositionDatePropertyLocationNetSalesProceedsNetCarryingValueGain (loss) on disposition of developable land01/03/242 CampusParsippany-Troy Hills, New Jersey$10,155 $9,371 $784 04/16/24107 MorganJersey City, New Jersey50,630 50,929 (a)(299)04/30/246 Becker Farm / 85 LivingstonRoseland, NJ27,985 16,955 11,030 Totals  $88,770 $77,255 $11,515 (a) Carrying value reflects previously recorded impairment charges of $10.5 million.Dispositions of Unconsolidated Joint VenturesIn April 2025, the Company sold its interest in The Metropolitan at 40 Park multifamily rental property in Morristown, New Jersey for $0.5 million. The Company recorded a gain on sale for its interest of approximately $0.2 million during the three and six months ended June 30, 2025.In April 2025, the Company sold its interest in the PI North developable land parcels in West New York, New Jersey for $