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

Investments In Unconsolidated Joint Ventures (Tables)

Investments In Unconsolidated Joint Ventures (Tables)

6 Months Ended

Jun. 30, 2012

Investments In Unconsolidated Joint Ventures [Abstract]

Summary Of The Results Of Financial Position



		June 30, 2012
		Plaza VIII & IX Associates		Harborside South Pier		Red Bank Corporate Plaza		Gramercy Agreement		12 Vreeland		Boston-Downtown Crossing		Gale Jefferson		Stamford SM LLC		Combined Total
Assets:
Rental property, net	$	8,028	$	57,319	$	22,549	$	38,704	$	14,021		-		-		-	$	140,621
Loan receivable		-		-		-		-		-		-		-	$	40,954		40,954
Other assets		1,289		16,913		2,836		5,599		1,024	$	46,213	$	2,830		227		76,931
Total assets	$	9,317	$	74,232	$	25,385	$	44,303	$	15,045	$	46,213	$	2,830	$	41,181	$	258,506
Liabilities and partners'/members' capital (deficit):
Mortgages, loans payable
and other obligations		-	$	70,127	$	17,728	$	50,978		-		-		-		-	$	138,833
Other liabilities	$	537		9,095		42		1,106	$	725		-		-		-		11,505
Partners’/members’
capital (deficit)		8,780		(4,990)		7,615		(7,781)		14,320	$	46,213	$	2,830	$	41,181		108,168
Total liabilities and
partners’/members’
capital (deficit)	$	9,317	$	74,232	$	25,385	$	44,303	$	15,045	$	46,213	$	2,830	$	41,181	$	258,506
Company’s investments
in unconsolidated
joint ventures, net	$	4,312	$	(1,289)	$	3,702		-	$	10,558	$	13,010	$	1,121	$	32,945	$	64,359


		December 31, 2011
		Plaza VIII & IX Associates		Harborside South Pier		Red Bank Corporate Plaza		Gramercy Agreement		12 Vreeland		Boston-Downtown Crossing		Gale Jefferson		Stamford SM LLC		Combined Total
Assets:
Rental property, net	$	8,335	$	59,733	$	22,903	$	39,276	$	13,122		-		-		-	$	143,369
Other assets		933		12,840		2,909		5,669		521	$	46,121	$	2,927		-		71,920
Total assets	$	9,268	$	72,573	$	25,812	$	44,945	$	13,643	$	46,121	$	2,927		-	$	215,289
Liabilities and partners'/members' capital (deficit):
Mortgages, loans payable
and other obligations		-	$	70,690	$	18,100	$	50,978	$	1,207		-		-		-	$	140,975
Other liabilities	$	531		4,982		117		1,086		168		-		-		-		6,884
Partners’/members’
capital (deficit)		8,737		(3,099)		7,595		(7,119)		12,268	$	46,121	$	2,927		-		67,430
Total liabilities and
partners’/members’
capital (deficit)	$	9,268	$	72,573	$	25,812	$	44,945	$	13,643	$	46,121	$	2,927		-	$	215,289
Company’s investments
in unconsolidated
joint ventures, net	$	4,291	$	(343)	$	3,676		-	$	10,233	$	13,005	$	1,153		-	$	32,015

Summary Of The Results Of Operations


	Three Months Ended June 30, 2012
			Plaza VIII & IX Associates		Harborside South Pier		Red Bank Corporate Plaza		Gramercy Agreement		12 Vreeland		Boston-Downtown Crossing		Gale Jefferson		Stamford SM LLC		Combined Total
Total revenues		$	235	$	10,906	$	799	$	1,552	$	652		-	$	69	$	1,141	$	15,354
Operating and other			(60)		(6,814)		(182)		(999)		(266)	$	(755)		-		(4)		(9,080)
Depreciation and amortization			(153)		(1,410)		(228)		(453)		(154)		-		-		-		(2,398)
Interest expense			-		(1,098)		(186)		(386)		18		-		-		-		(1,652)

Net income		$	22	$	1,584	$	203	$	(286)	$	250	$	(755)	$	69	$	1,137	$	2,224
Company’s equity in earnings
(loss) of unconsolidated
joint ventures		$	12	$	792	$	101		-	$	125	$	(227)	$	20	$	910	$	1,733



	Three Months Ended June 30, 2011
			Plaza VIII & IX Associates		Harborside South Pier		Red Bank Corporate Plaza		Gramercy Agreement		12 Vreeland		Boston-Downtown Crossing		Gale Jefferson		Stamford SM LLC		Combined Total
Total revenues		$	255	$	10,815	$	865	$	1,525	$	594		-	$	76		-	$	14,130
Operating and other			(51)		(6,830)		(243)		(975)		(34)	$	(377)		-		-		(8,510)
Depreciation and amortization			(153)		(1,415)		(226)		(539)		(315)		-		-		-		(2,648)
Interest expense			-		(1,120)		(129)		(381)		(52)		-		-		-		(1,682)

Net income		$	51	$	1,450	$	267	$	(370)	$	193	$	(377)	$	76		-	$	1,290
Company’s equity in earnings
(loss) of unconsolidated
joint ventures		$	25	$	568	$	134		-	$	96	$	(113)	$	26		-	$	736

SUMMARIES OF UNCONSOLIDATED JOINT VENTURES

The following is a summary of the results of operations of the unconsolidated joint ventures for the period in which the Company had investment interests during the six months ended June 30, 2012 and 2011: (dollars in thousands)


	Six Months Ended June 30, 2012
			Plaza VIII & IX Associates		Harborside South Pier		Red Bank Corporate Plaza		Gramercy Agreement		12 Vreeland		Boston-Downtown Crossing		Gale Jefferson		Stamford SM LLC		Combined Total
Total revenues		$	464	$	19,067	$	1,646	$	2,898	$	1,246		-	$	129	$	1,608	$	27,058
Operating and other			(115)		(12,445)		(416)		(1,880)		(288)	$	(1,089)		-		(26)		(16,259)
Depreciation and amortization			(306)		(2,813)		(456)		(906)		(307)		-		-		-		(4,788)
Interest expense			-		(2,200)		(365)		(774)		(3)		-		-		-		(3,342)

Net income		$	43	$	1,609	$	409	$	(662)	$	648	$	(1,089)	$	129	$	1,582	$	2,669
Company’s equity in earnings
(loss) of unconsolidated
joint ventures		$	22	$	804	$	204		-	$	324	$	(327)	$	40	$	1,266	$	2,333



	Six Months Ended June 30, 2011
			Plaza VIII & IX Associates		Harborside South Pier		Red Bank Corporate Plaza		Gramercy Agreement		12 Vreeland		Boston-Downtown Crossing		Gale Jefferson		Stamford SM LLC		Combined Total
Total revenues		$	449	$	18,450	$	1,592	$	3,334	$	990		-	$	142		-	$	24,957
Operating and other			(102)		(12,564)		(370)		(1,892)		(52)	$	(751)		-		-		(15,731)
Depreciation and amortization			(306)		(2,839)		(451)		(1,332)		(631)		-		-		-		(5,559)
Interest expense			-		(2,245)		(209)		(783)		(88)		-		-		-		(3,325)

Net income		$	41	$	802	$	562	$	(673)	$	219	$	(751)	$	142		-	$	342
Company’s equity in earnings
(loss) of unconsolidated
joint ventures		$	20	$	407	$	281		-	$	109	$	(225)	$	43		-	$	635