Annual report pursuant to Section 13 and 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
Dec. 31, 2023
Dec. 31, 2022
Rental property    
Land and leasehold interests $ 474,499 $ 492,204
Buildings and improvements 2,782,468 3,332,315
Tenant improvements 30,908 122,509
Furniture, fixtures and equipment 103,613 99,094
Gross investment in rental property 3,391,488 4,046,122
Less – accumulated depreciation and amortization (443,781) (631,910)
Total investment in rental property 2,947,707 3,414,212
Real estate held for sale, net 58,608 193,933
Net investment in rental property 3,006,315 3,608,145
Cash and cash equivalents 28,007 26,782
Restricted cash 26,572 20,867
Investments in unconsolidated joint ventures 117,954 126,158
Unbilled rents receivable, net 5,500 39,734
Deferred charges and other assets, net 53,956 96,162
Accounts receivable 2,742 2,920
Total assets 3,241,046 3,920,768
LIABILITIES AND EQUITY    
Mortgages, loans payable and other obligations, net 1,853,897 1,903,977
Dividends payable 5,540 110
Accounts payable, accrued expenses and other liabilities 55,492 72,041
Rents received in advance and security deposits 14,985 22,941
Accrued interest payable 6,580 7,131
Total liabilities 1,936,494 2,006,200
Commitments and contingencies
Redeemable noncontrolling interests 24,999 515,231
Partners’ Capital:    
Accumulated other comprehensive income 1,808 3,977
Total liabilities and equity 3,241,046 3,920,768
VERIS RESIDENTIAL, L.P.    
Rental property    
Land and leasehold interests 474,499 492,204
Buildings and improvements 2,782,468 3,332,315
Tenant improvements 30,908 122,509
Furniture, fixtures and equipment 103,613 99,094
Gross investment in rental property 3,391,488 4,046,122
Less – accumulated depreciation and amortization (443,781) (631,910)
Total investment in rental property 2,947,707 3,414,212
Real estate held for sale, net 58,608 193,933
Net investment in rental property 3,006,315 3,608,145
Cash and cash equivalents 28,007 26,782
Restricted cash 26,572 20,867
Investments in unconsolidated joint ventures 117,954 126,158
Unbilled rents receivable, net 5,500 39,734
Deferred charges and other assets, net 53,956 96,162
Accounts receivable 2,742 2,920
Total assets 3,241,046 3,920,768
LIABILITIES AND EQUITY    
Mortgages, loans payable and other obligations, net 1,853,897 1,903,977
Dividends payable 5,540 110
Accounts payable, accrued expenses and other liabilities 55,492 72,041
Rents received in advance and security deposits 14,985 22,941
Accrued interest payable 6,580 7,131
Total liabilities 1,936,494 2,006,200
Commitments and contingencies
Redeemable noncontrolling interests 24,999 515,231
Partners’ Capital:    
General Partner, 92,229,424 and 91,141,649 common units outstanding 1,071,973 1,163,935
Limited partners, 8,692,561 and 9,301,521 common units/LTIPs outstanding 170,903 193,882
Accumulated other comprehensive income 1,808 3,977
Total Veris Residential, L.P. partners’ capital 1,244,684 1,361,794
Noncontrolling interests in consolidated joint ventures 34,869 37,543
Total equity 1,279,553 1,399,337
Total liabilities and equity $ 3,241,046 $ 3,920,768