UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
April 7, 2023 (
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Securities Registered Pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
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Item 8.01 | Other Events. |
As previously disclosed, in February 2017 and June 2019, Veris Residential, Inc., a Maryland corporation (the “General Partner”) and the general partner of Veris Residential, L.P. (the “Operating Partnership,” and collectively with the General Partner, the “Company”), Veris Residential Trust (formerly known as Roseland Residential Trust, the Company’s subsidiary through which the Company conducts its multifamily residential real estate operations; hereinafter “VRT”), Veris Residential Partners, L.P. (formerly known as Roseland Residential, L.P., the operating partnership through which VRT conducts all of its operations; hereinafter “VRPLP”), and certain other affiliates of the Company entered into preferred equity investment agreements with certain affiliates of Rockpoint Group, L.L.C. (Rockpoint Group, L.L.C. and its affiliates, collectively, “Rockpoint”) pursuant to which VRPLP issued and sold to Rockpoint an aggregate of $400 million of preferred units of VRPLP (the “Preferred Units”) as further described in Note 14 – Redeemable Noncontrolling Interests – Rockpoint Transaction beginning on page 97 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2022.
Under the terms and conditions of the Third Amended and Restated Limited Partnership Agreement of VRPLP, dated as of June 28, 2019 (the “VRPLP Partnership Agreement”), VRT may purchase and redeem from Rockpoint the Preferred Units and certain other ownership interests in affiliates of Rockpoint that own the Preferred Units (collectively, the “Put/Call Interests”). On April 5, 2023, the Company delivered notice to Rockpoint that VRT was exercising its right to purchase and redeem the Put/Call Interests from Rockpoint.
On April 6, 2023, Rockpoint delivered notice to the Company that Rockpoint was exercising its right under the VRPLP Partnership Agreement to defer the closing of the Company purchase and redemption of the Put/Call Interests for one year until May 2024.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
Exhibit Number | Exhibit Title | |
104.1 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
VERIS RESIDENTIAL, INC. | |||
Dated: April 7, 2023 | By: | /s/ Taryn Fielder | |
Taryn Fielder | |||
Executive Vice President, General Counsel and Corporate Secretary | |||
VERIS RESIDENTIAL, L.P. | |||
By: | Veris Residential, Inc. | ||
its general partner | |||
Dated: April 7, 2023 | By: | /s/ Taryn Fielder | |
Taryn Fielder | |||
Executive Vice President, General Counsel and Corporate Secretary |