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
Sep. 30, 2024
Dec. 31, 2023
Rental property    
Land and leasehold interests $ 462,531 $ 474,499
Buildings and improvements 2,635,580 2,782,468
Tenant improvements 12,946 30,908
Furniture, fixtures and equipment 106,901 103,613
Gross investment in rental property 3,217,958 3,391,488
Less – accumulated depreciation and amortization (411,537) (443,781)
Total investment in rental property 2,806,421 2,947,707
Real estate held for sale, net 0 58,608
Net investment in rental property 2,806,421 3,006,315
Cash and cash equivalents 12,782 28,007
Restricted cash 19,687 26,572
Investments in unconsolidated joint ventures 113,595 117,954
Unbilled rents receivable, net 2,204 5,500
Deferred charges and other assets, net 49,110 53,956
Accounts receivable 2,041 2,742
Total assets 3,005,840 3,241,046
LIABILITIES AND EQUITY    
Revolving credit facility and term loans 353,580 0
Mortgages, loans payable and other obligations, net 1,324,336 1,853,897
Dividends and distributions payable 7,467 5,540
Accounts payable, accrued expenses and other liabilities 45,509 55,492
Rents received in advance and security deposits 10,993 14,985
Accrued interest payable 4,816 6,580
Total liabilities 1,746,701 1,936,494
Commitments and contingencies
Redeemable noncontrolling interests 9,294 24,999
Partners’ Capital:    
Accumulated other comprehensive income (2,364) 1,808
Total liabilities and equity 3,005,840 3,241,046
VERIS RESIDENTIAL, L.P.    
Rental property    
Land and leasehold interests 462,531 474,499
Buildings and improvements 2,635,580 2,782,468
Tenant improvements 12,946 30,908
Furniture, fixtures and equipment 106,901 103,613
Gross investment in rental property 3,217,958 3,391,488
Less – accumulated depreciation and amortization (411,537) (443,781)
Total investment in rental property 2,806,421 2,947,707
Real estate held for sale, net 0 58,608
Net investment in rental property 2,806,421 3,006,315
Cash and cash equivalents 12,782 28,007
Restricted cash 19,687 26,572
Investments in unconsolidated joint ventures 113,595 117,954
Unbilled rents receivable, net 2,204 5,500
Deferred charges and other assets, net 49,110 53,956
Accounts receivable 2,041 2,742
Total assets 3,005,840 3,241,046
LIABILITIES AND EQUITY    
Revolving credit facility and term loans 353,580 0
Mortgages, loans payable and other obligations, net 1,324,336 1,853,897
Dividends and distributions payable 7,467 5,540
Accounts payable, accrued expenses and other liabilities 45,509 55,492
Rents received in advance and security deposits 10,993 14,985
Accrued interest payable 4,816 6,580
Total liabilities 1,746,701 1,936,494
Commitments and contingencies
Redeemable noncontrolling interests 9,294 24,999
Partners’ Capital:    
General Partner, 92,900,256 and 92,229,424 common units outstanding 1,052,609 1,071,973
Limited partners, 8,683,370 and 8,692,561 common units/LTIPs outstanding 167,789 170,903
Accumulated other comprehensive income (2,364) 1,808
Total Veris Residential, L.P. partners’ capital 1,218,034 1,244,684
Noncontrolling interests in consolidated joint ventures 31,811 34,869
Total equity 1,249,845 1,279,553
Total liabilities and equity $ 3,005,840 $ 3,241,046