Recent Transactions (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| Real Estate Properties [Line Items] |
|
| Schedule Of Real Estate Held For Sale/Discontinued Operations/Dispositions |
The following table summarizes the real estate held for sale, net, and other assets and liabilities (dollars in thousands):
|
|
|
|
|
|
Assets |
|
|
|
Held for Sale |
|
Land |
$ |
142,212 |
|
Building & Other |
|
398,288 |
|
Less: Accumulated depreciation |
|
(128,442) |
|
Real estate held for sale, net |
$ |
412,058 |
|
|
|
|
|
|
|
|
Assets |
|
Other assets and liabilities |
|
Held for Sale |
|
Unbilled rents receivable, net (a) |
$ |
15,894 |
|
Deferred charges, net (a) |
|
12,637 |
|
Total deferred charges & other assets, net |
|
15,573 |
|
Mortgages & loans payable, net (a) |
|
(249,106) |
|
Accounts payable, accrued exp & other liability |
|
3,833 |
|
Unearned rents/deferred rental income (a) |
|
(3,694) |
|
(a)Expected to be removed with the completion of the sales.
|
| Schedule Of Real Estate Properties Sold And Disposed |
The Company disposed of the following rental property during the three months ended March 31, 2022 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains |
|
|
|
|
|
Rentable |
|
|
|
Net |
|
|
Net |
|
|
(Losses)/ |
Disposition |
|
|
# of |
|
Square |
|
Property |
|
Sales |
|
|
Carrying |
|
|
Unrealized |
Date |
Property/Address |
Location |
Bldgs. |
|
Feet |
|
Type |
|
Proceeds |
|
|
Value |
|
|
Losses, net |
01/21/22 |
111 River Street |
Hoboken, New Jersey |
1 |
|
566,215 |
|
Office |
$ |
208,268 |
(a) |
$ |
206,432 |
|
$ |
1,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals |
|
|
1 |
|
566,215 |
|
|
$ |
208,268 |
|
$ |
206,432 |
|
$ |
1,836 |
(a)The mortgage loan encumbering the property was repaid at closing, for which the Company incurred costs of $6.3 million. These costs were expensed as loss from extinguishment of debt during the three months ended March 31, 2022.
|
| Schedule Of Disposed Developable Land |
The Company disposed of the following developable land holdings during the three months ended March 31, 2022 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized |
|
|
|
|
|
|
|
|
|
|
|
Gains |
|
|
|
|
|
Net |
|
|
Net |
|
|
(Losses)/ |
Disposition |
|
|
|
|
Sales |
|
|
Carrying |
|
|
Unrealized |
Date |
Property Address |
Location |
|
|
Proceeds |
|
|
Value |
|
|
Losses, net |
03/22/22 |
Palladium residential land |
West Windsor, New Jersey |
|
$ |
23,908 |
|
$ |
24,182 |
|
$ |
(274) |
03/22/22 |
Palladium commercial land |
West Windsor, New Jersey |
|
|
4,688 |
|
|
1,791 |
|
|
2,897 |
|
|
|
|
|
|
|
|
|
|
|
|
Totals |
|
|
|
$ |
28,596 |
|
|
25,973 |
|
|
2,623 |
|
| VERIS RESIDENTIAL, L.P. [Member] |
|
| Real Estate Properties [Line Items] |
|
| Schedule Of Real Estate Held For Sale/Discontinued Operations/Dispositions |
The following table summarizes the real estate held for sale, net, and other assets and liabilities (dollars in thousands):
|
|
|
|
|
|
Assets |
|
|
|
Held for Sale |
|
Land |
$ |
142,212 |
|
Building & Other |
|
398,288 |
|
Less: Accumulated depreciation |
|
(128,442) |
|
Real estate held for sale, net |
$ |
412,058 |
|
|
|
|
|
|
|
|
Assets |
|
Other assets and liabilities |
|
Held for Sale |
|
Unbilled rents receivable, net (a) |
$ |
15,894 |
|
Deferred charges, net (a) |
|
12,637 |
|
Total deferred charges & other assets, net |
|
15,573 |
|
Mortgages & loans payable, net (a) |
|
(249,106) |
|
Accounts payable, accrued exp & other liability |
|
3,833 |
|
Unearned rents/deferred rental income (a) |
|
(3,694) |
|
(a)Expected to be removed with the completion of the sales.
|
| Schedule Of Real Estate Properties Sold And Disposed |
The Company disposed of the following rental property during the three months ended March 31, 2022 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains |
|
|
|
|
|
Rentable |
|
|
|
Net |
|
|
Net |
|
|
(Losses)/ |
Disposition |
|
|
# of |
|
Square |
|
Property |
|
Sales |
|
|
Carrying |
|
|
Unrealized |
Date |
Property/Address |
Location |
Bldgs. |
|
Feet |
|
Type |
|
Proceeds |
|
|
Value |
|
|
Losses, net |
01/21/22 |
111 River Street |
Hoboken, New Jersey |
1 |
|
566,215 |
|
Office |
$ |
208,268 |
(a) |
$ |
206,432 |
|
$ |
1,836 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Totals |
|
|
1 |
|
566,215 |
|
|
$ |
208,268 |
|
$ |
206,432 |
|
$ |
1,836 |
(a)The mortgage loan encumbering the property was repaid at closing, for which the Company incurred costs of $6.3 million. These costs were expensed as loss from extinguishment of debt during the three months ended March 31, 2022.
|
| Schedule Of Disposed Developable Land |
The Company disposed of the following developable land holdings during the three months ended March 31, 2022 (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized |
|
|
|
|
|
|
|
|
|
|
|
Gains |
|
|
|
|
|
Net |
|
|
Net |
|
|
(Losses)/ |
Disposition |
|
|
|
|
Sales |
|
|
Carrying |
|
|
Unrealized |
Date |
Property Address |
Location |
|
|
Proceeds |
|
|
Value |
|
|
Losses, net |
03/22/22 |
Palladium residential land |
West Windsor, New Jersey |
|
$ |
23,908 |
|
$ |
24,182 |
|
$ |
(274) |
03/22/22 |
Palladium commercial land |
West Windsor, New Jersey |
|
|
4,688 |
|
|
1,791 |
|
|
2,897 |
|
|
|
|
|
|
|
|
|
|
|
|
Totals |
|
|
|
$ |
28,596 |
|
|
25,973 |
|
|
2,623 |
|