Veris Residential, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Real Estate Investments And Accumulated Depreciation

Real Estate Investments And Accumulated Depreciation

12 Months Ended

Dec. 31, 2019

Real Estate Investments And Accumulated Depreciation



		MACK-CALI REALTY CORPORATION, MACK-CALI REALTY, L.P. AND SUBSIDIARIES
		REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION
				December 31, 2019
				(dollars in thousands)
											SCHEDULE III
								Gross Amount at Which
							Costs	Carried at Close of
					Initial Costs		Capitalized	Period (a)
	Property	Year		Related		Building and	Subsequent to		Building and		Accumulated
Property Location	Type	Built	Acquired	Encumbrances	Land	Improvements	Acquisition (d)	Land	Improvements	Total (d)	Depreciation (b)

NEW JERSEY
Bergen County
Fort Lee
One Bridge Plaza	Office	1981	1996	-	2,439	24,462	8,034	2,439	32,496	34,935	18,181
Essex County
Millburn (Short Hills)
150 J.F. Kennedy Parkway	Office	1980	1997	-	12,606	50,425	20,119	12,606	70,544	83,150	33,544

51 J.F. Kennedy Parkway	Office	1988	2017	69,525	5,873	100,359	1,129	5,873	101,488	107,361	10,575
101 J.F. Kennedy Parkway	Office	1981	2017	29,225	4,380	59,730	2,224	4,380	61,954	66,334	6,304
103 J.F. Kennedy Parkway	Office	1981	2017	24,899	3,158	50,813	1,337	3,158	52,150	55,308	5,316

Hudson County
Hoboken
111 River Street	Office	2002	2016	148,582	-	198,609	18,073	-	216,682	216,682	20,643
Soho Lofts	Multi-Family	2017	2019	158,875	27,601	224,039	1,166	27,601	225,205	252,806	4,220
Jersey City
Harborside Plaza 2	Office	1990	1996	-	17,655	101,546	69,341	8,364	180,178	188,542	75,555
Harborside Plaza 3	Office	1990	1996	-	17,655	101,878	69,007	8,363	180,177	188,540	75,555
Harborside Plaza 4A	Office	2000	2000	-	1,244	56,144	9,542	1,244	65,686	66,930	33,741
Harborside Plaza 5	Office	2002	2002	-	6,218	170,682	59,640	5,705	230,835	236,540	104,813
101 Hudson Street	Office	1992	2005	248,659	45,530	271,376	38,827	45,530	310,203	355,733	110,891
Liberty Towers	Multi-Family	2003	2019	230,667	66,670	328,347	398	66,670	328,745	395,415	2,075
Monaco	Multi-Family	2011	2017	166,753	58,761	240,871	3,891	58,761	244,762	303,523	16,861
Marbella I	Multi-Family	2003	2018	130,167	48,820	160,740	3,665	48,820	164,405	213,225	5,845
Marbella II	Multi-Family	2016	2019	116,252	36,595	152,440	93	36,595	152,533	189,128	3,542
Weehawken
100 Avenue at Port Imperial	Other	2016	2016	-	350	-	30,811	1,958	29,203	31,161	3,435
500 Avenue at Port Imperial	Other	2013	2013	37,315	13,099	56,669	(19,361)	13,099	37,308	50,407	5,904
Port Imperial South 11	Multi-Family	2018	2018	99,813	22,047	-	108,721	22,047	108,721	130,768	3,398
Residence Inn/Autograph Collection by Marriott	Other	2019	2015	75,029	23,660	-	113,702	23,660	113,702	137,362	2,031

Mercer County
Princeton
100 Overlook Center	Office	1988	1997	-	2,378	21,754	8,441	2,378	30,195	32,573	14,453
5 Vaughn Drive	Office	1987	1995	-	657	9,800	2,004	657	11,804	12,461	6,868

Middlesex County
Edison
333 Thornall Street	Office	1984	2015	-	5,542	40,762	4,991	5,542	45,754	51,295	5,994
343 Thornall Street	Office	1991	2006	-	6,027	39,101	14,720	6,027	53,822	59,848	16,399
Iselin
99 Wood Avenue South	Office	1987	2019	-	9,261	45,576	142	9,261	45,718	54,979	2,064
101 Wood Avenue South	Office	1990	2016	-	8,509	72,738	913	7,384	74,776	82,160	9,342
New Brunswick
Richmond Court	Multi-Family	1997	2013	29,759	2,992	13,534	1,908	2,992	15,442	18,434	2,293
Riverwatch Commons	Multi-Family	1995	2013	-	4,169	18,974	2,196	4,169	21,170	25,339	3,120
Plainsboro
500 College Road East (c)	Office	1984	1998	-	614	20,626	5,553	614	26,179	26,793	15,053
Woodbridge
581 Main Street	Office	1991	1997	-	3,237	12,949	35,066	8,115	43,137	51,252	16,907

Monmouth County
Holmdel
23 Main Street	Office	1977	2005	-	4,336	19,544	6,411	4,336	25,956	30,291	9,301
Middletown
One River Center, Building 1	Office	1983	2004	-	3,070	17,414	16,618	2,451	34,651	37,102	9,762
One River Center, Building 2	Office	1983	2004	-	2,468	15,043	3,657	2,452	18,716	21,168	8,081
One River Center, Building 3	Office	1984	2004	-	4,051	24,790	7,250	4,627	31,464	36,091	12,478
Red Bank
100 Schultz Drive	Office	1989	2017	-	1,953	6,790	4,301	1,953	11,091	13,044	949
200 Schultz Drive	Office	1989	2017	-	2,184	8,259	3,187	2,184	11,446	13,630	1,477

		MACK-CALI REALTY CORPORATION, MACK-CALI REALTY, L.P. AND SUBSIDIARIES
		REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION
				December 31, 2019
				(dollars in thousands)
												SCHEDULE III
								Gross Amount at Which
							Costs	Carried at Close of
					Initial Costs		Capitalized	Period (a)
	Property	Year		Related		Building and	Subsequent to		Building and			Accumulated
Property Location	Type	Built	Acquired	Encumbrances	Land	Improvements	Acquisition (d)	Land	Improvements	Total (d)		Depreciation (b)

Morris County
Florham Park
325 Columbia Parkway	Office	1987	1994	-	1,564	-	18,072	1,564	18,072	19,636		13,082
Madison
1 Giralda Farms	Office	1982	2017	-	3,370	27,145	2,177	3,370	29,322	32,692		3,435
7 Giralda Farms	Office	1997	2017	-	5,402	37,664	936	5,402	38,600	44,002		4,251
Morris Plains
Signature Place	Multi-Family	2018	2018	42,560	930	-	56,410	930	56,410	57,340		2,410
Parsippany
4 Campus Drive	Office	1983	2001	-	5,213	20,984	4,069	5,213	25,053	30,266		12,399
6 Campus Drive	Office	1983	2001	-	4,411	17,796	4,044	4,411	21,840	26,251		10,384
7 Campus Drive	Office	1982	1998	-	1,932	27,788	5,480	1,932	33,269	35,200		17,953
8 Campus Drive	Office	1987	1998	-	1,865	35,456	12,626	1,865	48,082	49,947		23,452
9 Campus Drive	Office	1983	2001	-	3,277	11,796	22,734	5,842	31,965	37,807		14,327
2 Dryden Way	Office	1990	1998	-	778	420	110	778	530	1,308		338
4 Gatehall Drive	Office	1988	2000	-	8,452	33,929	10,030	8,452	43,959	52,411		20,052
2 Hilton Court	Office	1991	1998	-	1,971	32,007	4,495	1,971	36,502	38,473		21,059
1 Sylvan Way	Office	1989	1998	-	1,689	24,699	5,675	1,021	31,042	32,063		15,040
3 Sylvan Way	Office	1988	2015	-	5,590	4,710	10,952	5,590	15,663	21,252		1,585
5 Sylvan Way	Office	1989	1998	-	1,160	25,214	7,835	1,161	33,049	34,209		15,475
7 Sylvan Way	Office	1987	1998	-	2,084	26,083	16,396	2,084	42,479	44,563		23,457
34 Sylvan Way	Other				37,873	550	42,390	45,840	34,973	80,813		6,634

NEW YORK
Westchester County
Eastchester
Quarry Place at Tuckahoe	Multi-Family	2016	2016	40,499	5,585	3,400	48,934	5,585	52,334	57,919		4,007

MASSACHUSETTS
Suffolk County
East Boston
Portside at Pier One	Multi-Family	2016	2016	58,723	-	73,713	560	-	74,273	74,273		8,432
Portside 5/6	Multi-Family	2018	2018	96,457	-	37,114	77,257	-	114,371	114,371		4,178

Worcester County
Worcester
145 Front Street	Multi-Family	2018	2015	62,687	4,380	-	92,147	4,380	92,147	96,527		3,791

Projects Under Development
and Developable Land				41,588	319,819	559,896	-	319,819	559,896	879,715		52,082

Furniture, Fixtures
and Equipment				-	-	-	78,716	-	78,716	78,716		16,610

TOTALS				1,908,034	893,154	3,737,148	1,179,762	889,219	4,920,845	5,810,064	(e)	971,402	(f)

(a)The aggregate cost for federal income tax purposes at December 31, 2019 was approximately $4.1 billion.

(b)Depreciation of buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(c)This property is located on land leased by the Company.

(d)These costs are net of impairments and valuation allowances recorded, if any.

(e)Includes properties classified as held for sale at December 31, 2019. The gross amount includes $235.3 million of land and $1.3 billion of building improvements related to these held for sale assets at period end.

(f)Accumulated depreciation includes $412.8 million from assets classified as held for sale as of December 31, 2019.

MACK-CALI REALTY CORPORATION/MACK-CALI REALTY, L.P. AND SUBSIDIARIES

NOTE TO SCHEDULE III

Changes in rental properties and accumulated depreciation for the periods ended December 31, 2019, 2018 and 2017 are as follows: (dollars in thousands)


		2019		2018		2017
Rental Properties
Balance at beginning of year	$	5,306,017	$	5,102,844	$	4,804,867
Additions		1,349,959		686,452		1,179,365
Real estate held for sale		(1,553,383)		(184,233)		(310,089)
Properties sold		(824,167)		(238,873)		(538,424)
Retirements/disposals		(21,745)		(60,173)		(32,875)
Balance at end of year	$	4,256,681	$	5,306,017	$	5,102,844


Accumulated Depreciation
Balance at beginning of year	$	1,097,868	$	1,087,083	$	1,332,073
Depreciation expense		156,250		140,726		154,343
Real estate held for sale		(411,833)		(30,404)		(126,503)
Properties sold		(261,923)		(39,364)		(217,625)
Repurposed buildings		-		-		(22,330)
Retirements/disposals		(21,745)		(60,173)		(32,875)
Balance at end of year	$	558,617	$	1,097,868	$	1,087,083

Mack-Cali Realty LP [Member]

Real Estate Investments And Accumulated Depreciation



		MACK-CALI REALTY CORPORATION, MACK-CALI REALTY, L.P. AND SUBSIDIARIES
		REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION
				December 31, 2019
				(dollars in thousands)
											SCHEDULE III
								Gross Amount at Which
							Costs	Carried at Close of
					Initial Costs		Capitalized	Period (a)
	Property	Year		Related		Building and	Subsequent to		Building and		Accumulated
Property Location	Type	Built	Acquired	Encumbrances	Land	Improvements	Acquisition (d)	Land	Improvements	Total (d)	Depreciation (b)

NEW JERSEY
Bergen County
Fort Lee
One Bridge Plaza	Office	1981	1996	-	2,439	24,462	8,034	2,439	32,496	34,935	18,181
Essex County
Millburn (Short Hills)
150 J.F. Kennedy Parkway	Office	1980	1997	-	12,606	50,425	20,119	12,606	70,544	83,150	33,544

51 J.F. Kennedy Parkway	Office	1988	2017	69,525	5,873	100,359	1,129	5,873	101,488	107,361	10,575
101 J.F. Kennedy Parkway	Office	1981	2017	29,225	4,380	59,730	2,224	4,380	61,954	66,334	6,304
103 J.F. Kennedy Parkway	Office	1981	2017	24,899	3,158	50,813	1,337	3,158	52,150	55,308	5,316

Hudson County
Hoboken
111 River Street	Office	2002	2016	148,582	-	198,609	18,073	-	216,682	216,682	20,643
Soho Lofts	Multi-Family	2017	2019	158,875	27,601	224,039	1,166	27,601	225,205	252,806	4,220
Jersey City
Harborside Plaza 2	Office	1990	1996	-	17,655	101,546	69,341	8,364	180,178	188,542	75,555
Harborside Plaza 3	Office	1990	1996	-	17,655	101,878	69,007	8,363	180,177	188,540	75,555
Harborside Plaza 4A	Office	2000	2000	-	1,244	56,144	9,542	1,244	65,686	66,930	33,741
Harborside Plaza 5	Office	2002	2002	-	6,218	170,682	59,640	5,705	230,835	236,540	104,813
101 Hudson Street	Office	1992	2005	248,659	45,530	271,376	38,827	45,530	310,203	355,733	110,891
Liberty Towers	Multi-Family	2003	2019	230,667	66,670	328,347	398	66,670	328,745	395,415	2,075
Monaco	Multi-Family	2011	2017	166,753	58,761	240,871	3,891	58,761	244,762	303,523	16,861
Marbella I	Multi-Family	2003	2018	130,167	48,820	160,740	3,665	48,820	164,405	213,225	5,845
Marbella II	Multi-Family	2016	2019	116,252	36,595	152,440	93	36,595	152,533	189,128	3,542
Weehawken
100 Avenue at Port Imperial	Other	2016	2016	-	350	-	30,811	1,958	29,203	31,161	3,435
500 Avenue at Port Imperial	Other	2013	2013	37,315	13,099	56,669	(19,361)	13,099	37,308	50,407	5,904
Port Imperial South 11	Multi-Family	2018	2018	99,813	22,047	-	108,721	22,047	108,721	130,768	3,398
Residence Inn/Autograph Collection by Marriott	Other	2019	2015	75,029	23,660	-	113,702	23,660	113,702	137,362	2,031

Mercer County
Princeton
100 Overlook Center	Office	1988	1997	-	2,378	21,754	8,441	2,378	30,195	32,573	14,453
5 Vaughn Drive	Office	1987	1995	-	657	9,800	2,004	657	11,804	12,461	6,868

Middlesex County
Edison
333 Thornall Street	Office	1984	2015	-	5,542	40,762	4,991	5,542	45,754	51,295	5,994
343 Thornall Street	Office	1991	2006	-	6,027	39,101	14,720	6,027	53,822	59,848	16,399
Iselin
99 Wood Avenue South	Office	1987	2019	-	9,261	45,576	142	9,261	45,718	54,979	2,064
101 Wood Avenue South	Office	1990	2016	-	8,509	72,738	913	7,384	74,776	82,160	9,342
New Brunswick
Richmond Court	Multi-Family	1997	2013	29,759	2,992	13,534	1,908	2,992	15,442	18,434	2,293
Riverwatch Commons	Multi-Family	1995	2013	-	4,169	18,974	2,196	4,169	21,170	25,339	3,120
Plainsboro
500 College Road East (c)	Office	1984	1998	-	614	20,626	5,553	614	26,179	26,793	15,053
Woodbridge
581 Main Street	Office	1991	1997	-	3,237	12,949	35,066	8,115	43,137	51,252	16,907

Monmouth County
Holmdel
23 Main Street	Office	1977	2005	-	4,336	19,544	6,411	4,336	25,956	30,291	9,301
Middletown
One River Center, Building 1	Office	1983	2004	-	3,070	17,414	16,618	2,451	34,651	37,102	9,762
One River Center, Building 2	Office	1983	2004	-	2,468	15,043	3,657	2,452	18,716	21,168	8,081
One River Center, Building 3	Office	1984	2004	-	4,051	24,790	7,250	4,627	31,464	36,091	12,478
Red Bank
100 Schultz Drive	Office	1989	2017	-	1,953	6,790	4,301	1,953	11,091	13,044	949
200 Schultz Drive	Office	1989	2017	-	2,184	8,259	3,187	2,184	11,446	13,630	1,477

		MACK-CALI REALTY CORPORATION, MACK-CALI REALTY, L.P. AND SUBSIDIARIES
		REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION
				December 31, 2019
				(dollars in thousands)
												SCHEDULE III
								Gross Amount at Which
							Costs	Carried at Close of
					Initial Costs		Capitalized	Period (a)
	Property	Year		Related		Building and	Subsequent to		Building and			Accumulated
Property Location	Type	Built	Acquired	Encumbrances	Land	Improvements	Acquisition (d)	Land	Improvements	Total (d)		Depreciation (b)

Morris County
Florham Park
325 Columbia Parkway	Office	1987	1994	-	1,564	-	18,072	1,564	18,072	19,636		13,082
Madison
1 Giralda Farms	Office	1982	2017	-	3,370	27,145	2,177	3,370	29,322	32,692		3,435
7 Giralda Farms	Office	1997	2017	-	5,402	37,664	936	5,402	38,600	44,002		4,251
Morris Plains
Signature Place	Multi-Family	2018	2018	42,560	930	-	56,410	930	56,410	57,340		2,410
Parsippany
4 Campus Drive	Office	1983	2001	-	5,213	20,984	4,069	5,213	25,053	30,266		12,399
6 Campus Drive	Office	1983	2001	-	4,411	17,796	4,044	4,411	21,840	26,251		10,384
7 Campus Drive	Office	1982	1998	-	1,932	27,788	5,480	1,932	33,269	35,200		17,953
8 Campus Drive	Office	1987	1998	-	1,865	35,456	12,626	1,865	48,082	49,947		23,452
9 Campus Drive	Office	1983	2001	-	3,277	11,796	22,734	5,842	31,965	37,807		14,327
2 Dryden Way	Office	1990	1998	-	778	420	110	778	530	1,308		338
4 Gatehall Drive	Office	1988	2000	-	8,452	33,929	10,030	8,452	43,959	52,411		20,052
2 Hilton Court	Office	1991	1998	-	1,971	32,007	4,495	1,971	36,502	38,473		21,059
1 Sylvan Way	Office	1989	1998	-	1,689	24,699	5,675	1,021	31,042	32,063		15,040
3 Sylvan Way	Office	1988	2015	-	5,590	4,710	10,952	5,590	15,663	21,252		1,585
5 Sylvan Way	Office	1989	1998	-	1,160	25,214	7,835	1,161	33,049	34,209		15,475
7 Sylvan Way	Office	1987	1998	-	2,084	26,083	16,396	2,084	42,479	44,563		23,457
34 Sylvan Way	Other				37,873	550	42,390	45,840	34,973	80,813		6,634

NEW YORK
Westchester County
Eastchester
Quarry Place at Tuckahoe	Multi-Family	2016	2016	40,499	5,585	3,400	48,934	5,585	52,334	57,919		4,007

MASSACHUSETTS
Suffolk County
East Boston
Portside at Pier One	Multi-Family	2016	2016	58,723	-	73,713	560	-	74,273	74,273		8,432
Portside 5/6	Multi-Family	2018	2018	96,457	-	37,114	77,257	-	114,371	114,371		4,178

Worcester County
Worcester
145 Front Street	Multi-Family	2018	2015	62,687	4,380	-	92,147	4,380	92,147	96,527		3,791

Projects Under Development
and Developable Land				41,588	319,819	559,896	-	319,819	559,896	879,715		52,082

Furniture, Fixtures
and Equipment				-	-	-	78,716	-	78,716	78,716		16,610

TOTALS				1,908,034	893,154	3,737,148	1,179,762	889,219	4,920,845	5,810,064	(e)	971,402	(f)

(a)The aggregate cost for federal income tax purposes at December 31, 2019 was approximately $4.1 billion.

(b)Depreciation of buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(c)This property is located on land leased by the Company.

(d)These costs are net of impairments and valuation allowances recorded, if any.

(f)Accumulated depreciation includes $412.8 million from assets classified as held for sale as of December 31, 2019.

MACK-CALI REALTY CORPORATION/MACK-CALI REALTY, L.P. AND SUBSIDIARIES

NOTE TO SCHEDULE III

Changes in rental properties and accumulated depreciation for the periods ended December 31, 2019, 2018 and 2017 are as follows: (dollars in thousands)


		2019		2018		2017
Rental Properties
Balance at beginning of year	$	5,306,017	$	5,102,844	$	4,804,867
Additions		1,349,959		686,452		1,179,365
Real estate held for sale		(1,553,383)		(184,233)		(310,089)
Properties sold		(824,167)		(238,873)		(538,424)
Retirements/disposals		(21,745)		(60,173)		(32,875)
Balance at end of year	$	4,256,681	$	5,306,017	$	5,102,844


Accumulated Depreciation
Balance at beginning of year	$	1,097,868	$	1,087,083	$	1,332,073
Depreciation expense		156,250		140,726		154,343
Real estate held for sale		(411,833)		(30,404)		(126,503)
Properties sold		(261,923)		(39,364)		(217,625)
Repurposed buildings		-		-		(22,330)
Retirements/disposals		(21,745)		(60,173)		(32,875)
Balance at end of year	$	558,617	$	1,097,868	$	1,087,083