Quarterly report pursuant to Section 13 or 15(d)

VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS

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VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Rental property    
Land and leasehold interests $ 483,195 $ 492,204
Buildings and improvements 2,845,193 3,332,315
Tenant improvements 40,809 122,509
Furniture, fixtures and equipment 100,803 99,094
Gross investment in rental property 3,470,000 4,046,122
Less – accumulated depreciation and amortization (438,113) (631,910)
Total investment in rental property 3,031,887 3,414,212
Real estate held for sale, net 122,690 193,933
Net investment in rental property 3,154,577 3,608,145
Cash and cash equivalents 396,940 26,782
Restricted cash 27,614 20,867
Investments in unconsolidated joint ventures 122,435 126,158
Unbilled rents receivable, net 7,808 39,734
Deferred charges and other assets, net 58,961 96,162
Accounts receivable 4,498 2,920
Total assets 3,772,833 3,920,768
LIABILITIES AND EQUITY    
Mortgages, loans payable and other obligations, net 1,820,981 1,903,977
Mandatorily redeemable noncontrolling interests 487,619 0
Dividends and distributions payable 72 110
Accounts payable, accrued expenses and other liabilities 53,239 72,041
Rents received in advance and security deposits 15,710 22,941
Accrued interest payable 6,963 7,131
Total liabilities 2,384,584 2,006,200
Commitments and contingencies
Redeemable noncontrolling interests 40,231 515,231
Partners’ Capital:    
Accumulated other comprehensive income 4,518 3,977
Total liabilities and equity 3,772,833 3,920,768
VERIS RESIDENTIAL, L.P.    
Rental property    
Land and leasehold interests 483,195 492,204
Buildings and improvements 2,845,193 3,332,315
Tenant improvements 40,809 122,509
Furniture, fixtures and equipment 100,803 99,094
Gross investment in rental property 3,470,000 4,046,122
Less – accumulated depreciation and amortization (438,113) (631,910)
Total investment in rental property 3,031,887 3,414,212
Real estate held for sale, net 122,690 193,933
Net investment in rental property 3,154,577 3,608,145
Cash and cash equivalents 396,940 26,782
Restricted cash 27,614 20,867
Investments in unconsolidated joint ventures 122,435 126,158
Unbilled rents receivable, net 7,808 39,734
Deferred charges and other assets, net 58,961 96,162
Accounts receivable 4,498 2,920
Total assets 3,772,833 3,920,768
LIABILITIES AND EQUITY    
Mortgages, loans payable and other obligations, net 1,820,981 1,903,977
Mandatorily redeemable noncontrolling interests 487,619 0
Dividends and distributions payable 72 110
Accounts payable, accrued expenses and other liabilities 53,239 72,041
Rents received in advance and security deposits 15,710 22,941
Accrued interest payable 6,963 7,131
Total liabilities 2,384,584 2,006,200
Commitments and contingencies
Redeemable noncontrolling interests 40,231 515,231
Partners’ Capital:    
General Partner, 92,041,386 and 91,141,649 common units outstanding 1,127,647 1,163,935
Limited partners, 8,666,675 and 9,301,521 common units/LTIPs outstanding 180,095 193,882
Accumulated other comprehensive income 4,518 3,977
Total Veris Residential, L.P. partners’ capital 1,312,260 1,361,794
Noncontrolling interests in consolidated joint ventures 35,758 37,543
Total equity 1,348,018 1,399,337
Total liabilities and equity $ 3,772,833 $ 3,920,768