JERSEY CITY, N.J., July 26, 2023 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties, today announces that it will host its se. The information in this press release must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q(the "10-Q") filed by the Company for the same period with the Securities and Exchange Commission (the "SEC") and all of the Company's other public filings with the SEC (the "Public Filings"). Kushner Companies Issues Statement Regarding Veris Residential The neighborhoods where Veris properties stand are places to participate fully in the life of the community. Locations chosen for walkability and public transit accessibility. Veris Residential - Overview, News & Competitors | ZoomInfo.com Kushner currently owns and operates over 21,000 units across the country, with a strong presence in New Jersey, and has a multifamily development pipeline of over 9,300 units. The Company provides leasing, property management, acquisition, development, construction and tenant-related services for its commercial and other real estate and multifamily real estate portfolio. Prices and special offers valid for new residents only. For reconciliation of FFO and Core FFO to Net Income (Loss), please refer to the following pages. Our ESG report is a guide to our core values and how they inform our decision making. Sustainability isnt just important to usits a lifestyle. Another example of our core values in action: giving back to the community, supporting people, and helping to sustain the planet. And connect to a brighter future with our thoughtfully designed properties working to minimize environmental impact. FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. stock options). Full year and fourth quarter 2022 multifamily Same Store Net Operating Income ("NOI") increased by 20.1% and 12.6%, compared to the same period last year, reflecting higher revenues, reduced concessions and stable controllable expenses offset by higher real estate taxes and insurance. The average price target represents an increase . We make sure its easy for our residents to drop off lightly used clothing and household items that GreenDrop picks up and converts into funds for the American Red Cross and the Military Order of the Purple Heart Service Foundation. JERSEY CITY, N.J., June 27, 2023 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) ("the Company"), a forward-thinking, environmentally- and socially-conscious REIT that primarily owns, operates, acquires and develops Class A multifamily properties, today released its 2022 ESG Report. Heres a step-by-step guide on how one of our communities just got a lot greener: 1. For the fourth quarter 2022, Core FFO was $5.3 million, or $0.05 per share, compared to $17.1 million, or $0.17 per share, for the quarter ended December31, 2021. Its about how that companys properties and residents are included in its mission., As part of the Embrace the Bees program, Veris has installed beehivesat 15 of its properties, adding 750,000 bees in total. Some of our residents have four legs. A chance to connect with each other and the planet. They say your home is a reflection of who you are. All our properties have motion-activated lighting in common spaces and late-night dimmed lighting with motion sensors. Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically . Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares (8,620 and 8,765 shares for the three months ended June 30, 2022 and 2021, respectively and 8,642 and 8,784 shares for the six months ended June 30, 2022 and 2021, respectively), plus dilutive Common Stock Equivalents (i.e. Same Store multifamily Blended Net Rental Growth Ratewas 11.7% for the quarter and 17.0% for the year. Veris Residential, Inc. Reports First Quarter 2022 Results Veris Residential Releases 2022 ESG Report - Yahoo Finance However, the Company's FFO per share is comparable to the FFO per share of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts ("Nareit"). At our properties, sustainability-conscious residents connect with one another. Youre never looking for just an apartment. Veris Residential, Inc. is a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops holistically-inspired, Class A multifamily properties that meet the sustainability-conscious lifestyle needs of today's residents while seeking to positively impact the communities it serves and the planet at large. When it comes to scoring mega loans in a tough financing environment and on a summer Friday, no less Jersey City is in the "haus.". , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, http://investors.verisresidential.com/corporate-overview, http://investors.verisresidential.com/sec-filings, http://investors.verisresidential.com/quarterly-supplementals, Veris Residential Issues Clarification Regarding Scheduled Time for Second Quarter 2023 Earnings Conference Call, Veris Residential, Inc. Reports Second Quarter 2023 Results, Core Funds from Operations ("Core FFO") per share of, The 6,691-unit operating multifamily portfolio and Same Store 5,825-unit operating multifamily portfolio were 97.1% and 96.8% occupied, respectively, as of, Same Store Net Operating Income ("NOI") for the operating multifamily portfolio increased year-over-year and quarter-over-quarter by 28.0% and 8.2%, respectively, reflecting higher occupancy, lower concessions and increasing market rents, Second quarter 2022 multifamily Blended Net Rental Growth Rate of 21%, Strong leasing momentum continues at Haus25, a 750-unit property located in, Completed acquisition of The James, a Class-A 240-unit property located in, The Hyatt Hotel and 23 Main Street, the Company's last suburban office property, are under binding contracts for a total sales price of, Refinanced the construction loan for RiverHouse 9 in Port Imperial with a five-year, 76% of total debt is fixed and/or hedged with a weighted average maturity of five years, Released 2021 ESG report, including commitment to 50% emissions reduction as validated by the Science Based Targets initiative (SBTi) and achieved independent sector leading ESG rankings. Veris Residential Releases 2022 ESG Report | Veris Residential About VRE Financial Performance In 2022, VRE's revenue was $355.02 million, an increase of 9.78% compared to the previous year's $323.39 million. Veris Residential Inc VRE.N Latest Trade 18.61 USD 0.15 +0.81% As of Aug 6 2023. KUSHNER COMPANIES ISSUES STATEMENT REGARDING VERIS RESIDENTIAL PR Newswire NEW YORK, Aug. 18, 2023 NEW YORK, Aug. 18, 2023 /PRNewswire/ -- Kushner (together with its affiliates, 'Kushner'), a seaso. 400, Jersey City, New Jersey 07311. Real Estate NJ features Veris Residentials purchase of Class A multifamily property in Northern New Jersey. As properties are considered for sale and acquisition based on NOI estimates and projections, the Company utilizes this measure to make investment decisions, as well as compare the performance of its assets to those of its peers. Everything we do, we do with intention. Scores are provided on a scale from 1 to 10, with 10 being the highest risk rating. Total liquidity was$277 million, comprised of $27 million in unrestricted cash and $250 millionavailable under the revolving credit facility, which was fully repaid in the fourth quarter. 601 W Companies LLC completed the acquisition of Three Class A office buildings in Jersey City, N.J. from Veris Residential, Inc.. Truist Securities Adjusts Price Target on Veris Residential to $13 From $16, Maintains Hold Rating, Veris Residential, Inc. Hostile Takeover Battle Between Kushner Cos and Veris Residential Veris Seals $340M Refi for Jersey City Luxury Multifamily Property Veris Residential | Luxury Rental Apartments | NJ, NY, MA Embrace News & Events Ready to apply INSPIRING OUR RESIDENTS, SUSTAINING OUR PLANET Explore our living spaces. Investors may not rely on the press release without reference to the 10-K and the Public Filings. Haus25, a 750-unit property located at 25 Christopher Columbus in Jersey City, NJ was 66% leased as of July 31, 2022. Cocina Mexicana & Tequila Bar will offer a full-service indoor and outdoor dining space at Haus25 at 25 Christopher Columbus Drive. MIT/CRE has created a global network of researchers and industry leaders, centered around sharing ideas and experience to quickly scale more sustainable practices, such as building decarbonization and circular economy in real estate, as well as climate risk modeling and pricing. JERSEY CITY, N.J., July 26, 2023 /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, environmentally- and socially-conscious real estate investment trust. GreenDrop, Red Cross, Purple Heart: The colors that serving the community and the planet at the same time. The Company expects growth projection ranges for 2023 shown below (compared to the full year 2022 Same Store NOI). We take pride in our communities. Enabling people to live better and do betterfor themselves, for others, for the planet. Little things mean a lot. InvestorsAnna MalhariChief Operating Officer[emailprotected], MediaAmanda Shpiner/Grace CartwrightGasthalter & Co.212-257-4170[emailprotected], (In thousands, except per share amounts) (unaudited), Interest and other investment income (loss), Equity in earnings (loss) of unconsolidated joint ventures, Realized gains (losses) and unrealized gains (losses) on disposition of rentalproperty, net, Gain (loss) from extinguishment of debt, net, Realized gains (losses) and unrealized gains (losses) on disposition of rentalproperty and impairments, net, Noncontrolling interests in consolidated joint ventures, Noncontrolling interests in Operating Partnership of income from continuingoperations, Noncontrolling interests in Operating Partnership in discontinued operations, Net income (loss) available to common shareholders, Basic weighted average shares outstanding, Diluted weighted average shares outstanding, Statements of Funds from Operations and Core FFO, (in thousands, except per share/unit amounts) (unaudited), Add (deduct): Noncontrolling interests in Operating Partnership, Noncontrolling interests in discontinued operations, Real estate-related depreciation and amortization, Property impairments on continuing operations, Impairment of unconsolidated joint venture investment, Continuing operations: Realized (gains) losses and unrealized (gains), losses on disposition of rental property, net, Discontinued operations: Realized (gains) losses and unrealized (gains), (Gain) loss from early extinguishment of debt, net, Dead deal and post sales items in Other Income/expense, (Gain) on disposition of developable land, Diluted weighted average shares/units outstanding (c), Funds from operations per share/unit-diluted, Core funds from operations per share/unit diluted. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http:// www.verisresidential.com/. This includes two Port Imperial Land Parcels that were sold in November. Se vuoi personalizzare le tue scelte, clicca su "Gestisci le impostazioni per la privacy". Readers are cautioned not to place undue reliance on these forward-looking statementsand are advised to consider the factors listed above together with the additional factors under the heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Report on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. They say travel broadens the mindand we agree. Share below ways you are doing your part to protect our environment . People. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/. Invigorating our neighborhoods. Founded in New Jersey in 1985, Kushner is a diversified real estate organization responsible for the ownership, management, development, and redevelopment of properties through the country. Amenities that support well-being and invite interaction. 3. FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. Veris Residential properties mean possibilities. Veris Residential creates communities with purpose. The company's board wrote that the $16-per-share offer "grossly undervalues the Company in its current form and denies. Veris earns highest score among peer group from independent third party. ), ROI-NJ calls Veris Residentials Q2 performance strong, CoStar covers recent Veris Residential transactions, Yahoo! Core FFO is a non-GAAP financial measure that is not intended to represent cash flow and is not indicative of cash flows provided by operating activities as determined in accordance with GAAP. The Indian Residential School Survivors Society (IRSSS) can be . Smart architecture and construction. By signing up you agree to receive content from us. The eatery will help anchor the ground-floor retail space at the recently completed, 750-unit building in the downtown, which is now leased up after opening last year to strong demand from renters. Places designed to support not only the people who live there, but those in the surrounding area as well. northjersey.com shares Veris Residentials role in bringing Smorgasburg to Jersey City. Realized gains (losses) and unrealized gains (losses) on disposition of rental, Noncontrolling interests in Operating Partnership of income from continuing, Common stock, $0.01 par value, 190,000,000 shares authorized, 91,062,532 and 90,948,008 shares. We take pride in our communities and pride in our planet. The Company further believes that as FFO per share excludes the effect of depreciation, gains (or losses) from property transactions and impairments related to depreciable rental property (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO per share can facilitate comparison of operating performance between equity REITs. Youre looking for a home, which encompasses the property, neighborhood, and community youll join. Here are a few small ways you can make a big impact: -Air-dry dishes (and clothing, when possible)save over 3% of residential power consumption, -Adjust your thermostat a few degrees (higher in summer, lower in winter) when youre not home, -Save energy, money, and water by doing only full loads of laundry and dishes. OPERATIONAL HIGHLIGHTS FOR SECOND QUARTER 2023 Net loss available to common shareholders was $ (0.30) per share. Kushner Companies Issues Statement Regarding Veris Residential - Advfn VRE.N - | Stock Price & Latest News | Reuters Same Store NOI quarter-over-quarter decreased by (0.2)%, driven by the real estate tax increase in Jersey City, NJ. For the second quarter 2022, Core FFO was $15.3 million, or $0.15 per share, compared to $15.3 million, or $0.15 per share, for the quarter ended June 30, 2021. Blended Net Rental Growth RateWeighted average of the net effective change in rent (inclusive of concessions) for a lease with a new resident or for a renewed lease compared to the rent for the prior lease of the identical apartment unit. News & Updates News & Events Properties (54) People (22) About Us (21) Planet (21) Social (27) All About Us People Planet Properties Social Veris Residential, Inc. Reports Second Quarter 2023 Results Veris shares financial updates and steps taken in its strategic transformation It is recommended that participants log on or dial in to the call approximately 10 minutes prior to the scheduled start time. JERSEY CITY, N.J., July 26, 2023 -- Veris Residential, Inc. (NYSE: VRE) (the "Company") today reported results for the second quarter 2023.
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