Veris Residential, Inc. Reports First Quarter 2025 Results

, /PRNewswire/ -- Veris Residential, Inc. (NYSE: VRE) (the "Company"), a forward-thinking, Northeast-focused, Class A multifamily REIT, today reported results for the first quarter 2025. Three Months Ended March 31, 2025 2024 Net Income (loss) per Diluted Share $(0.12) $(0.04) Core FFO per Diluted Share $0.16 $0.14 Core AFFO per Diluted Share $0.17 $0.18 Dividend per Diluted Share $0.08 $0.0525 FIRST QUARTER UPDATE Year-over-year Same Store multifamily Blended Net Rental Growth Rate of 2.4%. Year-over-year Same Store NOI growth of 3.2%. Same Store occupancy of 94.0% (95.3% excluding Liberty Towers). $45 million of non-strategic assets sold year to date, unwinding two joint ventures, with an additional $34 million under binding contract. Subsequent to quarter-end, purchased our partner's interest in the Jersey City Urby joint venture, eliminating the Company's largest remaining unconsolidated joint venture for $38.5 million, rebranding the property to "Sable" and taking over management. The consolidation is expected to create over $1 million in annualized synergies. Mahbod Nia, Chief Executive Officer, commented, "During the first quarter, Veris Residential continued to achieve strong operational results while advancing the corporate plan announced earlier this year. With a combined $79 million of non-strategic asset sales either closed or under binding contract this year, we continue to unlock value embedded within the Company, despite elevated levels of market volatility. "In parallel, we further simplified our portfolio, consolidating our interest in the Jersey City Urby, now Sable, assuming management of the property. Leveraging the Veris Residential platform, we expect the property to realize over $1 million of annualized synergies on a run-rate basis." SAME STORE PORTFOLIO PERFORMANCE March 31, 2025 December 31, 2024 Change Same Store Units 7,621 7,621 — % Same Store Occupancy 94.0 % 93.9 % 0.1 % Same Store Blended Rental Growth Rate (Quarter) 2.4 % 0.5 % 1.9 % Average Rent per Home $4,019 $4,033 (0.3) % The following table shows Same Store performance: ($ in 000s) Three Months Ended March 31, 2025 2024 % Total Property Revenue $75,761 $73,978 2.4 % Controllable Expenses 13,046 12,607 3.5 % Non-Controllable Expenses 11,822 12,057 (1.9) % Total Property Expenses 24,868 24,664 0.8 % Same Store NOI $50,893 $49,314 3.2 % FINANCE AND LIQUIDITY Substantially all of the Company's debt is hedged or fixed with a weighted average effective interest rate of 4.96% and weighted average maturity of 2.8 years. Subsequent to quarter-end, the Company consolidated the mortgage on Sable and simultaneously modified it to suspend principal amortization through the remaining term. Balance Sheet Metric ($ in 000s) March 31, 2025 December 31, 2024 Weighted Average Interest Rate 4.96 % 4.95 % Weighted Average Years to Maturity 2.8 3.1 TTM Interest Coverage Ratio 1.7x 1.7x Net Debt $1,643,411 $1,647,892 TTM EBITDA $144,191 $140,694 TTM Net Debt to EBITDA 11.4x 11.7x As of April 21, 2025, the Company had liquidity of approximately $146 million, including funds available on the revolver and cash on hand. TRANSACTION ACTIVITY Year to date, the Company has closed on $45 million of non-strategic asset sales, including two unconsolidated joint ventures. An additional $34 million across two land parcels are under binding contract, with an expected close in the first half of 2025. Name ($ in 000s) Date Location GAV 65 Livingston 1/24/2025 Roseland, NJ $7,300 Wall Land 4/3/2025 Wall Township, NJ 31,000 PI - North Building (two parcels) and Metropolitan at 40 Park 4/21/2025 West New York, NJ and Morristown, NJ 7,100 Total Assets Sold in 2025-to-date $45,400 JV INTEREST ACQUISITION In April 2025, the Company acquired its joint venture partner's 15% interest in the entity that owns the property now known as "Sable" at Harborside for $38.5 million, including consideration for the tax credit and termination of the management contract. The acquisition was funded through proceeds from non-strategic asset sales. Upon closing, the Company owned 100% interest in the property, and as a result, consolidated the asset and its corresponding property-level mortgage of $181.8 million. The property-level mortgage was subsequently modified to be an interest-only mortgage. The Company anticipates over $1 million of annualized synergies as a result of integrating the asset into the Veris platform. SHARE BUYBACK PROGRAM The Company announced a $100 million share repurchase program in February. No shares have been repurchased year to date. DIVIDEND The Company paid a dividend of $0.08 per share on April 10, 2025, for shareholders of record as of March 31, 2025. GUIDANCE The Company is maintaining its guidance for 2025 in accordance with the following table: 2025 Guidance Ranges Low High Same Store Revenue Growth 2.1 % — 2.7 % Same Store Expense Growth 2.6 % — 3.0 % Same Store NOI Growth 1.7 % — 2.7 % Core FFO per Share Guidance Low High Net Loss per Share $(0.24) — $(0.22) Depreciation per Share $0.85 — $0.85 Core FFO per Share $0.61 — $0.63 CONFERENCE CALL/SUPPLEMENTAL INFORMATION An earnings conference call with management is scheduled for Thursday, April 24, 2025, at 8:30 a.m. Eastern Time and will be broadcast live via the Internet at: http://investors.verisresidential.com. The live conference call is also accessible by dialing (877) 451-6152 (domestic) or (201) 389-0879 (international) and requesting the Veris Residential first quarter 2025 earnings conference call. The conference call will be rebroadcast on Veris Residential, Inc.'s website at:http://investors.verisresidential.com beginning at 8:30 a.m. Eastern Time on Thursday, April 24, 2025. A replay of the call will also be accessible Thursday, April 24, 2025, through Saturday, May 25, 2025, by calling (844) 512-2921 (domestic) or +1(412) 317-6671 (international) and using the passcode, 13751071. Copies of Veris Residential, Inc.'s first quarter 2025 Form 10-Q and first quarter 2025 Supplemental Operating and Financial Data are available on Veris Residential, Inc.'s website under Financial Results. In addition, once filed, these items will be available upon request from:Veris Residential, Inc. Investor Relations DepartmentHarborside 3, 210 Hudson St., Ste. 400, Jersey City, New Jersey 07311 ABOUT THE COMPANY Veris Residential, Inc. is a forward-thinking real estate investment trust (REIT) that primarily owns, operates, acquires and develops premier Class A multifamily properties in the Northeast. Our technology-enabled, vertically integrated operating platform delivers a contemporary living experience aligned with residents' preferences while positively impacting the communities we serve. We are guided by an experienced management team and Board of Directors, underpinned by leading corporate governance principles; a best-in-class approach to operations; and an inclusive culture based on meritocratic empowerment. For additional information on Veris Residential, Inc. and our properties available for lease, please visit http://www.verisresidential.com/. The information in this press release must be read in conjunction with, and is modified in its entirety by, the Annual Report on Form 10-K (the "10-K") 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"). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q and the Public Filings, available at https://investors.verisresidential.com/financial-information. We consider portions of this information, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations, and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as "may," "will," "plan," "potential," "projected," "should," "expect," "anticipate," "estimate," "target," "continue" or comparable terminology. Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which we cannot predict with accuracy and some of which we may not anticipate. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, we can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements and 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. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise, except as required under applicable law. Additional details in Company Information. Consolidated Balance Sheet (in thousands) (unaudited) March 31, 2025 December 31, 2024 ASSETS Rental property Land and leasehold interests $456,789 $458,946 Buildings and improvements 2,627,149 2,634,321 Tenant improvements 15,067 14,784 Furniture, fixtures and equipment 113,997 112,201 3,213,002 3,220,252 Less – accumulated depreciation and amortization (451,540) (432,531) 2,761,462 2,787,721 Real estate held for sale, net 9,138 7,291 Net investment in rental property 2,770,600 2,795,012 Cash and cash equivalents 7,596 7,251 Restricted cash 14,512 17,059 Investments in unconsolidated joint ventures 111,607 111,301 Unbilled rents receivable, net 2,409 2,253 Deferred charges and other assets, net 43,680 48,476 Accounts receivable 1,169 1,375 Total Assets $2,951,573 $2,982,727 LIABILITIES & EQUITY Revolving credit facility and term loans 345,172 348,839 Mortgages, loans payable and other obligations, net 1,322,036 1,323,474 Dividends and distributions payable 8,485 8,533 Accounts payable, accrued expenses and other liabilities 40,648 42,744 Rents received in advance and security deposits 11,529 11,512 Accrued interest payable 5,232 5,262 Total Liabilities 1,733,102 1,740,364 Redeemable noncontrolling interests 9,294 9,294 Total Stockholders' Equity 1,080,486 1,099,391 Noncontrolling interests in subsidiaries: Operating Partnership 99,814 102,588 Consolidated joint ventures 28,877 31,090 Total Noncontrolling Interests in Subsidiaries $128,691 $133,678 Total Equity $1,209,177 $1,233,069 Total Liabilities and Equity $2,951,573 $2,982,727 Consolidated Statement of Operations (In thousands, except per share amounts) (unaudited) Three Months Ended March 31, REVENUES 2025 2024 Revenue from leases $61,965 $60,642 Management fees 718 922 Parking income 3,749 3,745 Other income 1,324 2,031 Total revenues 67,756 67,340 EXPENSES Real estate taxes 9,212 9,177 Utilities 2,807 2,271 Operating services 10,993 12,570 Property management 4,385 5,242 General and administrative 10,068 11,088 Transaction-related costs 308 516 Depreciation and amortization 21,253 20,117 Land and other impairments, net 3,200 — Total expenses 62,226 60,981 OTHER (EXPENSE) INCOME Interest expense (22,960) (21,500) Interest and other investment income 25 538 Equity in earnings (loss) of unconsolidated joint ventures 3,842 254 Gain (loss) on disposition of developable land (156) 784 Gain (loss) on sale of unconsolidated joint venture interests — 7,100 Other income (expense), net (105) 255 Total other (expense) income, net (19,354) (12,569) Income (loss) from continuing operations before income tax expense (13,824) (6,210) Provision for income taxes (42) (59) Income (loss) from continuing operations after income tax expense (13,866) (6,269) Income (loss) from discontinued operations 136 252 Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net — 1,548 Total discontinued operations, net 136 1,800 Net Income (loss) (13,730) (4,469) Noncontrolling interest in consolidated joint ventures 2,125 495 Noncontrolling interests in Operating Partnership of loss (income) from continuing operations 998 523 Noncontrolling interests in Operating Partnership in discontinued operations (11) (155) Redeemable noncontrolling interests (81) (297) Net income (loss) available to common shareholders $(10,699) $(3,903) Basic earnings per common share: Net income (loss) available to common shareholders $(0.12) $(0.04) Diluted earnings per common share: Net income (loss) available to common shareholders $(0.12) $(0.04) Basic weighted average shares outstanding 93,059 92,275 Diluted weighted average shares outstanding(1) 101,690 100,968 See Reconciliation to Net Income (Loss) to NOI for more details. FFO, Core FFO and Core AFFO (in thousands, except per share/unit amounts) Three Months Ended March 31, 2025 2024 Net loss available to common shareholders $ (10,699) $ (3,903) Add/(Deduct): Noncontrolling interests in Operating Partnership (998) (523) Noncontrolling interests in discontinued operations 11 155 Real estate-related depreciation and amortization on continuing operations(2) 23,445 22,631 Real estate-related depreciation and amortization on discontinued operations — 668 Continuing operations: Loss (gain) on sale from unconsolidated joint ventures — (7,100) Discontinued operations: Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net — (1,548) FFO(3) $ 11,759 $ 10,380 Add/(Deduct): Land and other impairments(4) 1,600 — (Gain) loss on disposition of developable land 156 (784) Rebranding and Severance/Compensation related costs (G&A)(5) 168 1,637 Rebranding and Severance/Compensation related costs (Property Management)(6) 510 1,526 Amortization of derivative premium(7) 1,084 904 Derivative mark to market adjustment 255 — Transaction related costs 308 516 Core FFO $ 15,840 $ 14,179 Add/(Deduct): Straight-line rent adjustments(8) (146) 25 Amortization of market lease intangibles, net (3) (7) Amortization of lease inducements — 7 Amortization of stock compensation 3,366 3,727 Non-real estate depreciation and amortization 150 210 Amortization of deferred financing costs 1,707 1,242 Add/(Deduct): Non-incremental revenue generating capital expenditures: Building improvements (3,306) (1,040) Tenant improvements and leasing commissions(9) (33) (9) Core AFFO(3) $ 17,575 $ 18,334 Funds from Operations per share/unit-diluted $0.12 $0.10 Core Funds from Operations per share/unit-diluted $0.16 $0.14 Core Adjusted Funds from Operations per share/unit-diluted $0.17 $0.18 Dividends declared per common share $0.08 $0.0525 See Consolidated Statements of Operations and Non-GAAP Financial Footnotes. See Consolidated Statements of Operations. Adjusted EBITDA ($ in thousands) (unaudited) Three Months Ended March 31, 2025 2024 Core FFO (calculated on a previous page) $ 15,840 $ 14,179 Deduct: Equity in (earnings) loss of unconsolidated joint ventures (3,842) (459) Equity in earnings share of depreciation and amortization (2,343) (2,724) Add: Interest expense 22,960 21,500 Amortization of derivative premium (1,084) (904) Derivative mark to market adjustment (255) — Recurring joint venture distributions 5,801 1,701 Income (loss) in noncontrolling interest in consolidated joint ventures, net of land and other impairments1 (525) (495) Redeemable noncontrolling interests 81 297 Income tax expense 43 82 Adjusted EBITDA $ 36,675 $ 33,177 See Consolidated Statements of Operations and Non-GAAP Financial Footnotes. See Non-GAAP Financial Definitions. 1 See Annex 7 for breakout of Noncontrolling interests in consolidated joint ventures. Components of Net Asset Value ($ in thousands) Real Estate Portfolio Other Assets Operating Multifamily NOI1 Total At Share Cash and Cash Equivalents $7,596 New Jersey Waterfront $169,460 $145,268 Restricted Cash 14,512 Massachusetts 26,220 26,220 Other Assets 47,258 Other 31,920 24,566 Subtotal Other Assets $69,366 Total Multifamily NOI $227,600 $196,054 Commercial NOI2 2,380 1,949 Liabilities and Other Considerations Total NOI $229,980 $198,003 Operating - Consolidated Debt at Share3 $1,440,886 Non-Strategic Assets Operating - Unconsolidated Debt at Share3 129,442 Other Liabilities 65,894 Estimated Value of Land Under Binding Contract $34,250 Revolving Credit Facility3 161,000 Estimated Value of Remaining Land 115,194 Term Loan 200,000 Total Non-Strategic Assets4 $149,444 Preferred Units 9,294 Subtotal Liabilities and OtherConsiderations $2,006,516 Outstanding Shares5 Diluted Weighted Average Shares Outstanding for 1Q 2025 (in 000s) 102,066 1 See Multifamily Operating Portfolio for more details. The Real Estate Portfolio table is reflective of the quarterly NOI annualized. 2 See Commercial Assets and Developable Land for more details. 3 See Debt Summary and Maturity Schedule for pro forma reconciliation. 4 The land values are VRE`s share of value. Wall Land, PI North - Buillding 6 and Riverbend I parcels were removed from the totals as the sales of these assets closed in April 2025. Estimated value of land under binding contract reflects two land parcels (PI South - Building 2 and 1 Water Street) and the value VRE expects to receive upon completion of the sale. For more details on unit change see Commercial Assets and Developable Land. 5 Outstanding shares for the quarter ended March 31, 2025 is comprised of the following (in 000s): 93,059 weighted average common shares outstanding, 8,631 weighted average Operating Partnership common and vested LTIP units outstanding, and 377 shares representing the dilutive effect of stock-based compensation awards. See Non-GAAP Financial Definitions. Multifamily Operating Portfolio (in thousands, except Revenue per home) Operating Highlights Percentage Occupied Average Revenue per Home NOI1 Debt Balance Ownership Apartments 1Q 2025 4Q 2024 1Q 2025 4Q 2024 1Q 2025 4Q 2024 NJ Waterfront Haus25 100.0 % 750 95.6 % 95.3 % $4,969 $4,986 $8,195 $7,803 $343,061 Liberty Towers* 100.0 % 648 80.5 % 85.6 % 4,428 4,319 4,289 4,543 — BLVD 401 74.3 % 311 95.0 % 95.7 % 4,272 4,309 2,431 2,428 115,010 BLVD 425 74.3 % 412 95.9 % 95.6 % 4,143 4,175 3,426 3,246 131,000 BLVD 475 100.0 % 523 96.4 % 94.4 % 4,235 4,201 4,197 4,100 163,844 Soho Lofts* 100.0 % 377 94.2 % 94.7 % 4,828 4,860 3,232 3,258 — Sable (f.k.a. Jersey City Urby)2 85.0 % 762 94.5 % 94.4 % 4,223 4,322 5,879 6,455 181,810 RiverHouse 9 at Port Imperial 100.0 % 313 96.4 % 95.4 % 4,493 4,516 2,715 2,674 110,000 RiverHouse 11 at Port Imperial 100.0 % 295 95.8 % 96.3 % 4,391 4,405 2,527 2,479 100,000 RiverTrace 22.5 % 316 94.2 % 94.4 % 3,808 3,851 2,151 2,243 82,000 Capstone 40.0 % 360 95.6 % 95.1 % 4,603 4,590 3,323 3,243 135,000 NJ Waterfront Subtotal 85.0 % 5,067 93.4 % 93.8 % $4,430 $4,441 $42,365 $42,472 $1,361,725 Massachusetts Portside at East Pier 100.0 % 180 96.4 % 95.2 % $3,283 $3,265 $1,156 $1,207 $56,500 Portside 2 at East Pier 100.0 % 296 95.8 % 93.9 % 3,502 3,425 2,115 2,070 95,022 145 Front at City Square* 100.0 % 365 94.8 % 94.0 % 2,513 2,524 1,636 1,549 — The Emery at Overlook Ridge 100.0 % 326 93.9 % 92.9 % 2,845 2,865 1,648 1,699 70,279 Massachusetts Subtotal 100.0 % 1,167 95.0 % 93.9 % $2,975 $2,962 $6,555 $6,525 $221,801 Other The Upton 100.0 % 193 93.3 % 91.4 % $4,355 $4,411 $1,290 $1,238 $75,000 The James* 100.0 % 240 97.8 % 95.8 % 3,074 3,168 1,570 1,447 — Signature Place* 100.0 % 197 95.7 % 96.5 % 3,350 3,312 1,101 1,050 — Quarry Place at Tuckahoe 100.0 % 108 96.8 % 95.8 % 4,406 4,368 798 821 41,000 Riverpark at Harrison 45.0 % 141 97.6 % 95.7 % 2,857 2,995 568 626 30,192 Metropolitan at 40 Park3 25.0 % 130 94.0 % 93.7 % 3,800 3,741 798 771 34,100 Station House 50.0 % 378 93.2 % 91.8 % 2,909 2,989 1,855 2,005 86,812 Other Subtotal 73.8 % 1,387 95.2 % 94.0 % $3,396 $3,442 $7,980 $7,958 $267,104 Operating Portfolio45 85.2 % 7,621 94.0 % 93.9 % $4,019 $4,033 $56,900 $56,955 $1,850,630 1 The sum of property level revenue, straight line and ASC 805 adjustments; less: operating expenses, real estate taxes and utilities. 2 Subsequent to quarter-end, purchased joint venture partner's interest in the Jersey City property that was previously known as the "Urby" and is now named "Sable". 3 On April 21, 2025, the Company sold its interests in the Metropolitan joint venture. 4 Rental revenue associated with retail leases is included in the NOI disclosure above. 5 See Unconsolidated Joint Ventures and Annex 6: Multifamily Operating Portfolio for more details. *Properties that are currently in the collateral pool for the Term Loan and Revolving Credit Facility. See Non-GAAP Financial Definitions. Commercial Assets and Developable Land ($ in thousands) Commercial Location Ownership Rentable SF1 Percentage Leased 1Q 2025 Percentage Leased 4Q 2024 NOI 1Q 2025 NOI 4Q 2024 Debt Balance Port Imperial South - Garage Weehawken, NJ 70.0 % Fn 1 N/A N/A $413 $537 $30,957 Port Imperial South - Retail Weehawken, NJ 70.0 % 18,064 77.0 % 92.0 % 112 147 — Port Imperial North - Garage Weehawken, NJ 70.0 % Fn 1 N/A N/A (54) 25 — Port Imperial North - Retail Weehawken, NJ 100.0 % 8,400 100.0 % 100.0 % 89 (275) — Riverwalk at Port Imperial West New York, NJ 100.0 % 29,923 80.0 % 80.0 % 35 61 — Commercial Total 56,387 82.0 % 86.8 % $595 $495 $30,957 Shops at 40 Park2 Morristown, NJ N/A N/A N/A 69.0 % — 68 — Commercial Total with Shops at 40 Park 82.0 % 78.4 % $595 $563 $30,957 Developable Land Parcel Units3 Total Units VRE Share NJ Waterfront 1,522 1,400 Massachusetts 737 737 Other 459 459 Developable Land Parcel Units Total at April 22, 20254 2,718 2,596 Less: land under binding contract 544 422 Developable Land Parcel Units Remaining 2,174 2,174 1 Port Imperial South - Garage and Port Imperial North - Garage include approximately 850 and 686 parking spaces, respectively. 2 The Company`s joint venture sold the Shops at 40 Park retail property on October 22, 2024. 3 The Company has an additional 34,375 SF of developable retail space within land developments that is not represented in this table. 4 Includes the impact of the three land parcels that sold in April 2025. Same Store Market Information1 Sequential Quarter Comparison (NOI in thousands) NOI at Share Occupancy Blended Lease Tradeouts2 Apartments 1Q 2025 4Q 2024 Change 1Q 2025 4Q 2024 Change 1Q 2025 4Q 2024 Change New Jersey Waterfront 5,067 $37,673 $37,733 (0.2) % 93.4 % 93.8 % (0.3) % 2.4 % 1.2 % 1.2 % Massachusetts 1,167 6,816 6,787 0.4 % 95.0 % 93.9 % 1.2 % 2.5 % — % 2.5 % Other3 1,387 6,404 6,299 1.7 % 95.2 % 94.0 % 1.1 % 2.6 % (1.7) % 4.3 % Total 7,621 $50,893 $50,819 0.1 % 94.0 % 93.9 % 0.1 % 2.4 % 0.5 % 1.9 % Year-over-Year First Quarter Comparison (NOI in thousands) NOI at Share Occupancy Blended Lease Tradeouts2 Apartments 1Q 2025 1Q 2024 Change 1Q 2025 1Q 2024 Change 1Q 2025 1Q 2024 Change New Jersey Waterfront 5,067 $37,673 $36,698 2.7 % 93.4 % 94.2 % (0.8) % 2.4 % 4.1 % (1.7) % Massachusetts 1,167 6,816 6,520 4.5 % 95.0 % 95.1 % (0.1) % 2.5 % 2.9 % (0.4) % Other3 1,387 6,404 6,096 5.1 % 95.2 % 92.7 % 2.7 % 2.6 % 4.8 % (2.2) % Total 7,621 $50,893 $49,314 3.2 % 94.0 % 94.1 % (0.1) % 2.4 % 4.6 % (2.2) % Average Revenue per Home Apartments 1Q 2025 4Q 2024 3Q 2024 2Q 2024 1Q 2024 New Jersey Waterfront 5,067 $4,430 $4,441 $4,371 $4,291 $4,274 Massachusetts 1,167 2,975 2,962 2,946 2,931 2,893 Other3 1,387 3,396 3,442 3,421 3,411 3,374 Total 7,621 $4,019 $4,033 $3,980 $3,923 $3,899 1 All statistics are based off the current 7,621 Same Store pool. 2 Blended lease tradeouts exclude properties not managed by Veris. 3 "Other" includes properties in Suburban NJ, New York, and Washington, DC. See Multifamily Operating Portfolio for breakout. See Non-GAAP Financial Definitions. Same Store Performance ($ in thousands) Multifamily Same Store1 Three Months Ended March 31, Sequential 2025 2024 Change % 1Q25 4Q24 Change % Apartment Rental Income $68,679 $66,701 $1,978 3.0 % $68,679 $69,149 $(470) (0.7) % Parking/Other Income 7,082 7,277 (195) (2.7) % 7,082 7,226 (144) (2.0) % Total Property Revenues2 $75,761 $73,978 $1,783 2.4 % $75,761 $76,375 $(614) (0.8) % Marketing & Administration 2,145 2,138 7 0.3 % 2,145 2,618 (473) (18.1) % Utilities 3,244 2,570 674 26.2 % 3,244 2,278 966 42.4 % Payroll 4,291 4,295 (4) (0.1) % 4,291 4,525 (234) (5.2) % Repairs & Maintenance 3,366 3,604 (238) (6.6) % 3,366 4,486 (1,120) (25.0) % Controllable Expenses $13,046 $12,607 $439 3.5 % $13,046 $13,907 $(861) (6.2) % Other Fixed Fees 725 712 13 1.8 % 725 719 6 0.8 % Insurance 1,467 1,779 (312) (17.5) % 1,467 1,388 79 5.7 % Real Estate Taxes 9,630 9,566 64 0.7 % 9,630 9,542 88 0.9 % Non-Controllable Expenses $11,822 $12,057 $(235) (1.9) % $11,822 $11,649 $173 1.5 % Total Property Expenses $24,868 $24,664 $204 0.8 % $24,868 $25,556 $(688) (2.7) % Same Store GAAP NOI $50,893 $49,314 $1,579 3.2 % $50,893 $50,819 $74 0.1 % Same Store NOI Margin 67.2 % 66.7 % 0.5 % 67.2 % 66.5 % 0.7 % Total Units 7,621 7,621 7,621 7,621 % Ownership 85.2 % 85.2 % 85.2 % 85.2 % % Occupied 94.0 % 94.1 % (0.1) % 94.0 % 93.9 % 0.1 % 1 Values represent the Company's pro rata ownership of the operating portfolio. All periods displayed have the same properties in the pool. 2 Revenues reported based on Generally Accepted Accounting Principals or "GAAP". Debt Profile ($ in thousands) Lender Effective Interest Rate(1) March 31, 2025 December 31, 2024 Date of Maturity Secured Permanent Loans Portside 2 at East Pier New York Life Insurance Co. 4.56 % 95,022 95,427 03/10/26 BLVD 425 New York Life Insurance Co. 4.17 % 131,000 131,000 08/10/26 BLVD 401 New York Life Insurance Co. 4.29 % 115,010 115,515 08/10/26 Portside at East Pier(2) KKR SOFR + 2.75% 56,500 56,500 09/07/26 The Upton(3) Bank of New York Mellon SOFR + 1.58% 75,000 75,000 10/27/26 RiverHouse 9 at Port Imperial(4) JP Morgan SOFR + 1.41% 110,000 110,000 06/21/27 Quarry Place at Tuckahoe Natixis Real Estate Capital, LLC 4.48 % 41,000 41,000 08/05/27 BLVD 475 The Northwestern Mutual Life Insurance Co. 2.91 % 163,844 164,712 11/10/27 Haus25 Freddie Mac 6.04 % 343,061 343,061 09/01/28 RiverHouse 11 at Port Imperial The Northwestern Mutual Life Insurance Co. 4.52 % 100,000 100,000 01/10/29 Port Imperial Garage South American General Life & A/G PC 4.85 % 30,957 31,098 12/01/29 The Emery at Overlook Ridge(5) Flagstar Bank 3.21 % 70,279 70,653 01/01/31 Secured Permanent Loans Outstanding $1,331,673 $1,333,966 Unamortized Deferred Financing Costs (9,637) (10,492) Secured Permanent Loans $1,322,036 $1,323,474 Secured RCF & Term Loans: Revolving Credit Facility(6) Various Lenders SOFR + 2.73% $148,000 $152,000 04/22/27 Term Loan(6) Various Lenders SOFR + 2.73% 200,000 200,000 04/22/27 RCF & Term Loan Balances $348,000 $352,000 Unamortized Deferred Financing Costs (2,828) (3,161) Total RCF & Term Loan Debt $345,172 $348,839 Total Debt $1,667,208 $1,672,313 See to Debt Profile Footnotes. Debt Summary and Maturity Schedule ($ in thousands) Nearly all of the Company's total pro forma debt portfolio (consolidated and unconsolidated) is hedged or fixed. The Company's total pro forma debt portfolio has a weighted average interest rate of 4.96% and a weighted average maturity of 2.8 years. Balance % of Total Weighted Average Interest Rate Weighted Average Maturity in Years Fixed Rate & Hedged Debt Fixed Rate & Hedged Secured Debt $1,679,673 100.0 % 5.05 % 2.51 Variable Rate Debt Variable Rate Debt — — % — % — Totals / Weighted Average $1,679,673 100.0 % 5.05 % 2.51 Unamortized Deferred Financing Costs (12,465) Total Consolidated Debt, net $1,667,208 Partners' Share (72,597) VRE Share of Total Consolidated Debt, net1 $1,594,611 Unconsolidated Secured Debt VRE Share $292,506 53.2 % 4.71 % 3.80 Partners' Share 257,408 46.8 % 4.71 % 3.80 Total Unconsolidated Secured Debt $549,914 100.0 % 4.71 % 3.80 Pro Forma Debt Portfolio Fixed Rate & Hedged Secured Debt $1,920,328 99.4 % 4.94 % 2.84 Variable Rate Secured Debt 11,000 0.6 % 7.04 % 2.06 Total Pro Forma Debt Portfolio $1,931,328 100.0 % 4.96 % 2.83 Debt Maturity Schedule as of March 31, 202523 2025 2026 2027 2028 2029 2030 2031 Secured Debt 473 315 343 131 70 Term Loan 200 Revolver 148 Unused Revolver Capacity 152 Pro Forma Total Consolidated Debt, gross on 3/31/25 1,679,673 Partners' Share (72,597) VRE Share of Total Consolidated Debt, as of 3/31/25 1,607,076 Net Revolver activity in April 13,000 Consolidation of debt associated with JV interest acquisition 181,810 VRE Share of Total Consolidated Debt, as of 4/21/25 1,800,886 VRE Share of Unconsolidated Secured Debt, on 3/31/25 292,506 Consolidation of debt associated with JV interest acquisition (154,539) Disposition of our interest in Metropolitan at 40 Park joint venture (8,525) VRE Share of Total Unconsolidated Debt, on 4/21/25 129,442 Total Pro Forma Debt Portfolio 1,931,328 1 Minority interest share of consolidated debt is comprised of $33.7 million at BLVD 425, $29.6 million at BLVD 401 and $9.3 million at Port Imperial South Garage. 2 The Term Loan, Revolver and Unused Revolver Capacity are shown with the one-year extension option utilized on the facilities. At quarter end, the Term Loan was fully drawn and hedged with an interest-rate cap with a strike rate of 3.5%, expiring July 2026. The Revolver is fully hedged with an interest-rate cap of 3.5%, expiring in June 2025. 3 The graphic reflects consolidated debt balances only. Dollars are shown in millions. Annex 1: Transaction Activity ($ in thousands except per SF) Location Transaction Date Number of Buildings Units Gross Asset Value 2025 dispositions-to-date Land 65 Livingston Roseland, NJ 1/24/2025 N/A N/A $7,300 Wall Land Wall Township, NJ 4/3/2025 N/A N/A 31,000 PI North - Building 6 and Riverbend I West New York, NJ 4/21/2025 N/A N/A 6,500 Land dispositions-to-date $44,800 Multifamily Metropolitan at 40 Park Morristown, NJ 4/21/2025 1 130 $600 Multifamily dispositions-to-date $600 Total dispositions-to-date $45,400 Land Under Binding Contract 1 Water Street White Plains, NY N/A N/A N/A PI South - Building 2 Weehawken, NJ N/A N/A N/A 2025 Acquisitions-to-Date Multifamily Sable (f.k.a Jersey City Urby) Jersey City, NJ 4/21/2025 1 762 $38,5001 Multifamily acquisitions-to-date $38,500 1 Represents gross value associated with the purchase of our partner`s equity interest in the Jersey City property now known as Sable. Annex 2: Reconciliation of Net Income (loss) to NOI (three months ended) 1Q 2025 4Q 2024 Total Total Net Income (loss) $ (13,730) $ (14,023) Deduct: Management fees (718) (751) Loss (income) from discontinued operations (136) 1,015 Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairment, net — (1,899) Interest and other investment income (25) (111) Equity in (earnings) loss of unconsolidated joint ventures (3,842) (1,015) (Gain) loss on disposition of developable land 156 — Gain on sale of unconsolidated joint venture interests — 154 Other (income) expense, net 105 396 Add: Property management 4,385 3,877 General and administrative 10,068 10,040 Transaction-related costs 308 159 Depreciation and amortization 21,253 21,182 Interest expense 22,960 23,293 Provision for income taxes 42 2 Land and other impairments, net 3,200 — Net operating income (NOI) $ 44,026 $ 42,319 Summary of Consolidated Multifamily NOI by Type (unaudited): 1Q 2025 4Q 2024 Total Consolidated Multifamily - Operating Portfolio $ 42,326 $ 41,612 Total Consolidated Commercial 595 495 Total NOI from Consolidated Properties (excl. unconsolidated JVs/subordinated interests) $ 42,921 $ 42,107 NOI (loss) from services, land/development/repurposing & other assets 1,250 398 Total Consolidated Multifamily NOI $ 44,171 $ 42,505 See Consolidated Statement of Operations. See Non-GAAP Financial Definitions. Annex 3: Consolidated Statement of Operations and Non-GAAP Financial Footnotes FFO, Core FFO, AFFO, NOI, & Adjusted EBITDA 1. Calculated based on weighted average common shares outstanding, assuming redemption of Operating Partnership common units into common shares 8,360 and 8,418 shares for the three months ended March 31, 2025 and 2024, respectively, plus dilutive Common Stock Equivalents (i.e. stock options). 2. Includes the Company's share from unconsolidated joint ventures, and adjustments for noncontrolling interest of $2.3 million and $2.7 million for the three months ended March 31, 2025 and 2024, respectively. Excludes non-real estate-related depreciation and amortization of $0.2 million and $0.2 million for each of the three months ended March 31, 2025 and 2024. 3. Funds from operations is calculated in accordance with the definition of FFO of the National Association of Real Estate Investment Trusts (Nareit). See Non-GAAP Financial Definitions for information About FFO, Core FFO, AFFO, NOI & Adjusted EBITDA. 4. Represents the Company`s controlling interest portion of $3.2 million land and other impairment charge. 5. Accounting for the impact of Severance/Compensation related costs, General and Administrative expense was $9.9 million and $9.6 million for the three months ended March 31, 2025 and 2024, respectively. 6. Accounting for the impact of Severance/Compensation related costs, Property Management expense was $3.9 million and $3.7 million for the three months ended March 31, 2025 and 2024, respectively. 7. Includes the Company's share from unconsolidated joint ventures of $12 thousand and $19 thousand for the three months ended March 31, 2025 and 2024, respectively. 8. Includes the Company's share from unconsolidated joint ventures of $10 thousand for each of the three months ended March 31, 2025 and 2024. 9. Excludes expenditures for tenant spaces in properties that have not been owned by the Company for at least a year. Back to Consolidated Statement of Operations. Back to FFO, Core FFO and Core AFFO. Back to Adjusted EBITDA. Annex 4: Unconsolidated Joint Ventures ($ in thousands) Property Units Percentage Occupied VRE's Nominal Ownership1 1Q 2025 NOI2 Total Debt VRE Share of 1Q NOI VRE Share of Debt Multifamily Sable (f.k.a Jersey City Urby)3 762 94.5 % 85.0 % $5,879 $181,810 $4,997 $154,539 RiverTrace at Port Imperial 316 94.2 % 22.5 % 2,151 82,000 484 18,450 Capstone at Port Imperial 360 95.6 % 40.0 % 3,323 135,000 1,329 54,000 Riverpark at Harrison 141 97.6 % 45.0 % 568 30,192 256 13,586 Metropolitan at 40 Park4 130 94.0 % 25.0 % 798 34,100 200 8,525 Station House 378 93.2 % 50.0 % 1,855 86,812 928 43,406 Total Multifamily 2,087 94.6 % 55.0 % $14,574 $549,914 $8,193 $292,506 Total UJV 2,087 94.6 % 55.0 % $14,574 $549,914 $8,193 $292,506 1 Amounts represent the Company's share based on ownership percentage. 2 The sum of property level revenue, straight line and ASC 805 adjustments; less: operating expenses, real estate taxes and utilities. 3 Subsequent to quarter-end, purchased joint venture partner's interest in the Jersey City property that was previously known as the "Urby" and is now named "Sable". 4 On April 21, the Company sold its interests in the Metropolitan joint venture. Annex 5: Debt Profile Footnotes 1. Effective rate of debt, including deferred financing costs, comprised of debt initiation costs, and other transaction costs, as applicable. 2. The loan on Portside at East Pier is hedged with a 3-year cap at a strike rate of 3.5%, expiring in September 2026. 3. The loan on Upton is hedged with an interest rate cap at a strike rate of 3.5%, expiring in November 2026. 4. The loan on RiverHouse 9 is hedged with an interest rate cap at a strike rate of 3.5%, expiring in July 2026. 5. Effective rate reflects the fixed rate period, which ends on January 1, 2026. After that period ends, the Company must make a one-time interest rate election of either: (a) the floating-rate option, the sum of the highest prime rate as published in the New York Times on each applicable Rate Change Date plus 2.75% annually or (b) the fixed-rate option, the sum of the Five Year Fixed Rate Advance of the Federal Home Loan Bank of New York in effects as of the first business day of the month which is three months prior to the Rate Change Date plus 3.00% annually. 6. The Company's facilities consist of a $300 million Revolver and $200 million delayed-draw Term Loan and are supported by a group of eight lenders. The eight lenders consists of JP Morgan Chase and Bank of New York Mellon as Joint Bookrunners; Bank of America Securities, Capital One, Goldman Sachs Bank USA, and RBC Capital Markets as Joint Lead Arrangers; and Associated Bank and Eastern Bank as participants. The facilities have a three-year term ending April 22, 2027, with a one-year extension option. The Term Loan was fully drawn and hedged with interest rate caps at strike rates of 3.5%, expiring in July 2026. As of March 31, 2025, the balance outstanding under the Revolver was $148 million, of which was fully hedged with an interest rate cap at a strike rate of 3.5%, expiring in June 2025. Balance as of March 31, 2025 Initial Spread DeferredFinancing Costs 5 bps reduction KPI Updated Spread SOFR or SOFR Cap All In Rate Secured Revolving Credit Facility $148,000,000 2.10 % 0.68 % (0.05) % 2.73 % 3.50 % 6.23 % Secured Term Loan $200,000,000 2.10 % 0.68 % (0.05) % 2.73 % 3.50 % 6.23 % Back to Debt Profile. Annex 6: Multifamily Property Information Location Ownership Apartments Rentable SF1 Average Size Year Complete NJ Waterfront Haus25 Jersey City, NJ 100.0 % 750 617,787 824 2022 Liberty Towers Jersey City, NJ 100.0 % 648 602,210 929 2003 BLVD 401 Jersey City, NJ 74.3 % 311 273,132 878 2016 BLVD 425 Jersey City, NJ 74.3 % 412 369,515 897 2003 BLVD 475 Jersey City, NJ 100.0 % 523 475,459 909 2011 Soho Lofts Jersey City, NJ 100.0 % 377 449,067 1,191 2017 Sable (f.k.a Jersey City Urby)2 Jersey City, NJ 85.0 % 762 474,476 623 2017 RiverHouse 9 at Port Imperial Weehawken, NJ 100.0 % 313 245,127 783 2021 RiverHouse 11 at Port Imperial Weehawken, NJ 100.0 % 295 250,591 849 2018 RiverTrace West New York, NJ 22.5 % 316 295,767 936 2014 Capstone West New York, NJ 40.0 % 360 337,991 939 2021 NJ Waterfront Subtotal 85.0 % 5,067 4,391,122 867 Massachusetts Portside at East Pier East Boston, MA 100.0 % 180 154,859 862 2015 Portside 2 at East Pier East Boston, MA 100.0 % 296 230,614 779 2018 145 Front at City Square Worcester, MA 100.0 % 365 304,936 835 2018 The Emery at Overlook Ridge Revere, MA 100.0 % 326 273,140 838 2020 Massachusetts Subtotal 100.0 % 1,167 963,549 826 Other The Upton Short Hills, NJ 100.0 % 193 217,030 1,125 2021 The James Park Ridge, NJ 100.0 % 240 215,283 897 2021 Signature Place Morris Plains, NJ 100.0 % 197 203,716 1,034 2018 Quarry Place at Tuckahoe Eastchester, NY 100.0 % 108 105,551 977 2016 Riverpark at Harrison Harrison, NJ 45.0 % 141 124,774 885 2014 Metropolitan at 40 Park3 Morristown, NJ 25.0 % 130 124,237 956 2010 Station House Washington, DC 50.0 % 378 290,348 768 2015 Other Subtotal 73.8 % 1,387 1,280,939 924 Operating Portfolio4 85.2 % 7,621 6,635,610 871 Back to Multifamily Operating Portfolio. 1 Total sf outlined above excludes approximately 191,838 sqft of ground floor retail, of which 149,497 sf was leased as of March 31, 2025. 2 Subsequent to quarter-end, purchased joint venture partner's interest in the Jersey City property that was previously known as the "Urby" and is now named "Sable". 3 On April 21, the Company sold the Metropolitan joint venture. 4 Rental revenue associated with retail leases is included in the NOI disclosure on the Multifamily Operating Portfolio. Annex 7: Noncontrolling Interests in Consolidated Joint Ventures Three Months Ended March 31, 2025 2024 BLVD 425 $ 152 $ 80 BLVD 401 (552) (552) Port Imperial Garage South (82) (26) Port Imperial Retail South 8 34 Other consolidated joint ventures (1,651) (31) Net losses in noncontrolling interests $ (2,125) $ (495) Depreciation in noncontrolling interests 736 721 Funds from operations - noncontrolling interest in consolidated joint ventures $ (1,389) $ 226 Interest expense in noncontrolling interest in consolidated joint ventures 782 788 Net operating income before debt service in consolidated joint ventures $ (607) $ 1,014 Non-GAAP Financial Definitions NON-GAAP FINANCIAL MEASURES Included in this financial package are Funds from Operations, or FFO, Core Funds from Operations, or Core FFO, net operating income, or NOI and Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization, or Adjusted EBITDA, each a "non-GAAP financial measure," measuring Veris Residential, Inc.'s historical or future financial performance that is different from measures calculated and presented in accordance with generally accepted accounting principles ("U.S. GAAP"), within the meaning of the applicable Securities and Exchange Commission rules. Veris Residential, Inc. believes these metrics can be a useful measure of its performance which is further defined. Adjusted Earnings Before Interest, Tax, Depreciation and Amortization (Adjusted "EBITDA")The Company defines Adjusted EBITDA as Core FFO, plus interest expense, plus income tax expense, plus income (loss) in noncontrolling interest in consolidated joint ventures, and plus adjustments to reflect the entity's share of Adjusted EBITDA of unconsolidated joint ventures. The Company presents Adjusted EBITDA because the Company believes that Adjusted EBITDA, along with cash flow from operating activities, investing activities and financing activities, provides investors with an additional indicator of the Company's ability to incur and service debt. Adjusted EBITDA should not be considered as an alternative to net income (determined in accordance with GAAP), as an indication of the Company's financial performance, as an alternative to net cash flows from operating activities (determined in accordance with GAAP), or as a measure of the Company's liquidity. Blended Net Rental Growth Rate or Blended Lease 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. Core FFO and Adjusted FFO ("AFFO")Core FFO is defined as FFO, as adjusted for certain items to facilitate comparative measurement of the Company's performance over time. Adjusted FFO ("AFFO") is defined as Core FFO less (i) recurring tenant improvements, leasing commissions, and capital expenditures, (ii) straight-line rents and amortization of acquired above/below market leases, net, and (iii) other non-cash income, plus (iv) other non-cash charges. Core FFO and Adjusted AFFO are presented solely as supplemental disclosure that the Company's management believes provides useful information to investors and analysts of its results, after adjusting for certain items to facilitate comparability of its performance from period to period. Core FFO and Adjusted FFO are non-GAAP financial measures that are not intended to represent cash flow and are not indicative of cash flows provided by operating activities as determined in accordance with GAAP. As there is not a generally accepted definition established for Core FFO and Adjusted FFO, the Company's measures of Core FFO may not be comparable to the Core FFO and Adjusted FFO reported by other REITs. A reconciliation of net income per share to Core FFO and Adjusted FFO in dollars and per share are included in the financial tables accompanying this press release. Funds From Operations ("FFO") FFO is defined as net income (loss) before noncontrolling interests in Operating Partnership, computed in accordance with U.S. GAAP, excluding gains or losses from depreciable rental property transactions (including both acquisitions and dispositions), and impairments related to depreciable rental property, plus real estate-related depreciation and amortization. The Company believes that FFO per share is helpful to investors as one of several measures of the performance of an equity REIT. 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. FFO per share should not be considered as an alternative to net income available to common shareholders per share as an indication of the Company's performance or to cash flows as a measure of liquidity. 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. 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"). A reconciliation of net income per share to FFO per share is included in the financial tables accompanying this press release. NOI and Same Store NOI NOI represents total revenues less total operating expenses, as reconciled to net income above. The Company considers NOI to be a meaningful non-GAAP financial measure for making decisions and assessing unlevered performance of its property types and markets, as it relates to total return on assets, as opposed to levered return on equity. 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. NOI should not be considered a substitute for net income, and the Company's use of NOI may not be comparable to similarly titled measures used by other companies. The Company calculates NOI before any allocations to noncontrolling interests, as those interests do not affect the overall performance of the individual assets being measured and assessed. Same Store NOI is presented for the same store portfolio, which comprises all properties that were owned by the Company throughout both of the reporting periods. Company Information Company Information Corporate Headquarters Stock Exchange Listing Contact Information Veris Residential, Inc. New York Stock Exchange Veris Residential, Inc. 210 Hudson St., Suite 400 Investor Relations Department Jersey City, New Jersey 07311 Trading Symbol 210 Hudson St., Suite 400 (732) 590-1010 Common Shares: VRE Jersey City, New Jersey 07311 Mackenzie Rice Director, Investor Relations E-Mail: [email protected] Web: www.verisresidential.com Executive Officers Mahbod Nia Amanda Lombard Taryn Fielder Chief Executive Officer Chief Financial Officer General Counsel and Secretary Anna Malhari Jeff Turkanis Chief Operating Officer EVP & Chief Investment Officer Equity Research Coverage Bank of America Merrill Lynch BTIG, LLC Citigroup Jana Galan Thomas Catherwood Nicholas Joseph Evercore ISI Green Street Advisors JP Morgan Steve Sakwa John Pawlowski Anthony Paolone Truist Michael R. Lewis SOURCE Veris Residential, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Veris Residential, Inc. Reports First Quarter 2025 Results

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