Veris Residential, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

REVOLVING CREDIT FACILITY AND TERM LOANS (Details)

REVOLVING CREDIT FACILITY AND TERM LOANS (Details) $ in Thousands			1 Months Ended	6 Months Ended
	Jul. 27, 2021 USD ($)	Dec. 31, 2020	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) property	Dec. 31, 2021 USD ($)	May 06, 2021 USD ($) lender
Line of Credit Facility [Line Items]
Loan balance				$ 2,200,000	$ 2,400,000
Outstanding borrowings under the facility				$ 76,000	148,000
2021 Credit Facility \| Until May 6, 2022
Line of Credit Facility [Line Items]
Debt service coverage ratio				1.10%
2021 Credit Facility \| May 7, 2022 through May 6, 2023
Line of Credit Facility [Line Items]
Debt service coverage ratio				1.20%
2021 Credit Facility \| After May 6, 2023
Line of Credit Facility [Line Items]
Debt service coverage ratio				1.40%
2021 Term Loan
Line of Credit Facility [Line Items]
Loan period				18 months
2021 Credit Agreement
Line of Credit Facility [Line Items]
Loan period				3 years
2021 Credit Agreement, Letter Of Credit
Line of Credit Facility [Line Items]
Borrowing capacity under the credit facility				$ 50,000
2021 Credit Facility, Usage Less Or Equal To Fifty Percent
Line of Credit Facility [Line Items]
Facility fee basis points				0.35%
2021 Credit Facility, Usage Greater Than Fifty Percent
Line of Credit Facility [Line Items]
Facility fee basis points				0.25%
2021 Credit Facility
Line of Credit Facility [Line Items]
Number of lenders \| lender						7
Secured debt						$ 250,000
Variable interest rate				0.12%
Maximum collateral pool leverage ratio				40.00%
Tangible net worth ratio		80.00%
Percentage of net cash proceeds of equity issuances				80.00%
2021 Credit Facility \| 2021 Credit Facility \| Overnight Bank Funding Rate
Line of Credit Facility [Line Items]
Variable interest rate				0.50%
2021 Credit Facility \| 2021 Credit Facility \| Adjusted LIBO Rate
Line of Credit Facility [Line Items]
Variable interest rate				1.00%
2021 Credit Facility \| 2021 Credit Agreement \| Harborside 2/3 And Harborside 5
Line of Credit Facility [Line Items]
Appraisal value				$ 800,000
2021 Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Variable interest rate				1.25%
Number of collateral pool properties \| property				2
2021 Credit Facility \| Minimum \| 2021 Credit Facility
Line of Credit Facility [Line Items]
Appraisal value				$ 800,000
2021 Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Variable interest rate				2.75%
Total leverage ratio				65.00%
2021 Term Loan
Line of Credit Facility [Line Items]
Secured debt						150,000
Borrowing capacity under the credit facility				$ 150,000
Loan balance						150,000
Debt paid	$ 27,000		$ 123,000
2021 Term Loan \| Harborside 2/3 And Harborside 5
Line of Credit Facility [Line Items]
Appraisal value				800,000
2021 Credit Agreement
Line of Credit Facility [Line Items]
Borrowing capacity under the credit facility				$ 250,000
Outstanding borrowings under the facility						$ 145,000
2021 Credit Agreement \| Overnight Bank Funding Rate
Line of Credit Facility [Line Items]
Variable interest rate				0.00%
2021 Credit Agreement \| Adjusted LIBO Rate
Line of Credit Facility [Line Items]
Variable interest rate				1.00%
Unsecured Term Loan \| Unsecured Revolving Credit Facility
Line of Credit Facility [Line Items]
Loan balance					$ 148,000
Outstanding borrowings under the facility				$ 76,000