Company: VRE
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000924901-25-000011
Chunk: 43

Company: Veris Residential, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 16
Chunk 43
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 and 2022, respectively. The Company had $0.5 million and $0.7 million in accounts receivable due from its unconsolidated joint ventures as of December 31, 2024 and 2023. As of December 31, 2024, the Company does not have any investments in unconsolidated joint ventures that are considered VIEs.

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The following is a summary of the Company's unconsolidated joint ventures as of December 31, 2024 and 2023 (dollars in thousands): Number of Apartment UnitsCompany's Carrying ValueProperty DebtAs of December 31, 2024Entity / Property NameDecember 31, 2024EffectiveOwnership % (a)December 31,2024December 31,2023 BalanceMaturityDate InterestRateMultifamilyMetropolitan and Lofts at 40 Park (b) (c)130units25.00 %$689 $908 $34,100 10/10/25 SOFR+2.85 %RiverTrace at Port Imperial 316units22.50 %4,074 4,506 82,000 11/10/26 3.21 %The Capstone at Port Imperial360units40.00 %20,519 21,361 135,000 12/22/25SOFR+1.20 %Riverpark at Harrison141units45.00 %— — 30,192 07/01/35 3.19 %Station House378units50.00 %31,509 32,022 87,350 07/01/33 4.82 %Urby Harborside (d)762units85.00 %52,832 57,060 182,604 08/01/29 5.20 %PI North - Land (b) (e)829potential units20.00 %1,678 1,678 — — — OtherOther (f)— 419 — — — Totals:$111,301 $117,954 $551,246 (a)Company's effective ownership % represents the Company's entitlement to residual distributions after payments of priority returns, where applicable.(b)The Company's ownership interests in this venture are subordinate to its partner's preferred capital balance and the Company is not expected to