Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Rental property    
Land and leasehold interests $ 494,935 $ 639,636
Buildings and improvements 3,375,266 3,743,831
Tenant improvements 106,654 171,623
Furniture, fixtures and equipment 100,011 83,553
Gross investment in rental property 4,076,866 4,638,643
Less - accumulated depreciation and amortization (583,416) (656,331)
Total investment in rental property 3,493,450 3,982,312
Real estate held for sale, net 618,646 656,963
Net investment in rental property 4,112,096 4,639,275
Cash and cash equivalents 31,754 38,096
Restricted cash 19,701 14,207
Investments in unconsolidated joint ventures 137,772 162,382
Unbilled rents receivable, net 72,285 84,907
Deferred charges, goodwill and other assets, net 151,347 199,541
Accounts receivable 2,363 9,378
Total assets 4,527,318 5,147,786
LIABILITIES AND EQUITY    
Senior unsecured notes, net   572,653
Revolving credit facility and term loans 148,000 25,000
Mortgages, loans payable and other obligations, net 2,241,070 2,204,144
Dividends and distributions payable 384 1,493
Accounts payable, accrued expenses and other liabilities 134,977 194,717
Rents received in advance and security deposits 26,396 34,101
Accrued interest payable 5,760 10,001
Total liabilities 2,556,587 3,042,109
Commitments and contingencies
Redeemable noncontrolling interests 521,313 513,297
Veris Residential, Inc. stockholders’ equity:    
Common stock, $0.01 par value, 190,000,000 shares authorized, 90,947,387 and 90,712,417 shares outstanding 909 907
Additional paid-in capital 2,530,383 2,528,187
Dividends in excess of net earnings (1,249,319) (1,130,277)
Accumulated other comprehensive income (loss) 9  
Total Veris Residential, Inc. stockholders’ equity 1,281,982 1,398,817
Noncontrolling interests in subsidiaries:    
Operating Partnership 127,053 148,791
Consolidated joint ventures 40,383 44,772
Total noncontrolling interests in subsidiaries 167,436 193,563
Total equity 1,449,418 1,592,380
Total liabilities and equity 4,527,318 5,147,786
VERIS RESIDENTIAL, L.P. [Member]    
Rental property    
Land and leasehold interests 494,935 639,636
Buildings and improvements 3,375,266 3,743,831
Tenant improvements 106,654 171,623
Furniture, fixtures and equipment 100,011 83,553
Gross investment in rental property 4,076,866 4,638,643
Less - accumulated depreciation and amortization (583,416) (656,331)
Total investment in rental property 3,493,450 3,982,312
Real estate held for sale, net 618,646 656,963
Net investment in rental property 4,112,096 4,639,275
Cash and cash equivalents 31,754 38,096
Restricted cash 19,701 14,207
Investments in unconsolidated joint ventures 137,772 162,382
Unbilled rents receivable, net 72,285 84,907
Deferred charges, goodwill and other assets, net 151,347 199,541
Accounts receivable 2,363 9,378
Total assets 4,527,318 5,147,786
LIABILITIES AND EQUITY    
Senior unsecured notes, net   572,653
Revolving credit facility and term loans 148,000 25,000
Mortgages, loans payable and other obligations, net 2,241,070 2,204,144
Dividends and distributions payable 384 1,493
Accounts payable, accrued expenses and other liabilities 134,977 194,717
Rents received in advance and security deposits 26,396 34,101
Accrued interest payable 5,760 10,001
Total liabilities 2,556,587 3,042,109
Commitments and contingencies
Redeemable noncontrolling interests 521,313 513,297
Veris Residential, Inc. stockholders’ equity:    
General Partner, 90,948,008 and 90,712,417 common units outstanding 1,211,790 1,330,048
Limited partners, 9,013,534 and 9,649,031 common units/LTIPs outstanding 197,236 217,560
Accumulated other comprehensive income (loss) 9  
Total Veris Residential, L.P. partners’ capital 1,409,035 1,547,608
Noncontrolling interests in subsidiaries:    
Noncontrolling interests in consolidated joint ventures 40,383 44,772
Total equity 1,449,418 1,592,380
Total liabilities and equity $ 4,527,318 $ 5,147,786