Quarterly report [Sections 13 or 15(d)]

VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

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VERIS RESIDENTIAL, L.P. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ 79,439 $ (12,641)
Net (income) loss from discontinued operations (3,891) (3,425)
Net income (loss) from continuing operations 75,548 (16,066)
Adjustments to reconcile net loss to net cash provided by    
Depreciation and amortization, including related intangible assets 64,790 61,567
Amortization of deferred compensation stock units 338 296
Amortization of stock compensation 9,013 10,256
Amortization of deferred financing costs and derivative premiums 7,527 7,506
Equity in (earnings) loss of unconsolidated joint ventures (4,708) (2,919)
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net (84,160) 0
Gain (loss) on disposition of developable land (35,292) (11,515)
(Gain) loss on sale of unconsolidated joint ventures (5,122) (7,100)
Land and other impairments, net 15,667 2,619
Gain (loss) from extinguishment of debt, net 3,212 777
Changes in operating assets and liabilities:    
Decrease (increase) in unbilled rents receivable, net (655) (646)
Decrease (increase) in deferred charges and other assets (2,181) 3,582
Decrease (increase) in accounts receivable, net 319 (508)
(Decrease) increase in accounts payable, accrued expenses and other liabilities 2,986 (5,126)
(Decrease) increase in rents received in advance and security deposits (1,038) (845)
(Decrease) increase in accrued interest payable (131) (1,764)
Net cash flows provided by (used in) operating activities - continuing operations 46,113 40,114
Net cash flows provided by (used in) operating activities - discontinued operations 4,385 355
Net cash provided by (used in) operating activities 50,498 40,469
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property additions, improvements and other costs (22,490) (11,105)
Development of rental property and other related costs (5,896) (4,699)
Purchase of unconsolidated joint venture interest, net of cash acquired (36,469) 0
Proceeds from the sales of developable land 94,680 88,962
Proceeds from the sales of rental property 340,148 0
Proceeds from sale of investments in unconsolidated joint ventures 7,129 6,095
Repayment of notes receivable 0 32
Investment in unconsolidated joint ventures 0 (226)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 9,229 8,553
Other investing activities 0 250
Net cash provided by (used in) investing activities - continuing operations 386,331 87,862
Net cash provided by (used in) investing activities - discontinued operations 0 77,182
Net cash provided by (used in) investing activities 386,331 165,044
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 201,000 157,000
Repayment of revolving credit facility (322,000) 0
Borrowings from term loans 0 200,000
Repayments of term loans (200,000) 0
Repayment of mortgages, loans payable and other obligations (63,708) (533,318)
Redemption of redeemable noncontrolling interests, net 0 (15,700)
Common unit redemptions (456) 0
Payment of financing costs and derivative premiums, net (1,451) (14,401)
Contribution from noncontrolling interests 225 108
Distribution to noncontrolling interests (19,503) (1,735)
Distributions to redeemable noncontrolling interests (243) (464)
Payment of common dividends and distributions (24,781) (16,886)
Share issuance proceeds (costs), net 0 1,765
Payment for taxes related to the net share settlement of stock compensation awards (4,402) (3,992)
Net cash provided by (used in) financing activities (435,319) (227,623)
Net increase (decrease) in cash and cash equivalents 1,510 (22,110)
Cash, cash equivalents and restricted cash, beginning of period [1] 24,310 54,579
Cash, cash equivalents and restricted cash, end of period [2] 25,820 32,469
Noncash Investing and Financing Items [Abstract]    
Mortgage and loans payable assumed in real estate acquisitions 180,969 0
Mortgage and loans payable assigned through sales of rental property (41,000) 0
VERIS RESIDENTIAL, L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss 79,439 (12,641)
Net (income) loss from discontinued operations (3,891) (3,425)
Net income (loss) from continuing operations 75,548 (16,066)
Adjustments to reconcile net loss to net cash provided by    
Depreciation and amortization, including related intangible assets 64,790 61,567
Amortization of deferred compensation stock units 338 296
Amortization of stock compensation 9,013 10,256
Amortization of deferred financing costs and derivative premiums 7,527 7,506
Equity in (earnings) loss of unconsolidated joint ventures (4,708) (2,919)
Realized (gains) losses and unrealized (gains) losses on disposition of rental property, net (84,160) 0
Gain (loss) on disposition of developable land (35,292) (11,515)
(Gain) loss on sale of unconsolidated joint ventures (5,122) (7,100)
Land and other impairments, net 15,667 2,619
Gain (loss) from extinguishment of debt, net 3,212 777
Changes in operating assets and liabilities:    
Decrease (increase) in unbilled rents receivable, net (655) (646)
Decrease (increase) in deferred charges and other assets (2,181) 3,581
Decrease (increase) in accounts receivable, net 319 (508)
(Decrease) increase in accounts payable, accrued expenses and other liabilities 2,986 (5,126)
(Decrease) increase in rents received in advance and security deposits (1,038) (845)
(Decrease) increase in accrued interest payable (131) (1,764)
Net cash flows provided by (used in) operating activities - continuing operations 46,113 40,113
Net cash flows provided by (used in) operating activities - discontinued operations 4,385 355
Net cash provided by (used in) operating activities 50,498 40,468
CASH FLOWS FROM INVESTING ACTIVITIES    
Rental property additions, improvements and other costs (22,490) (11,105)
Development of rental property and other related costs (5,896) (4,699)
Purchase of unconsolidated joint venture interest, net of cash acquired (36,469) 0
Proceeds from the sales of developable land 94,680 88,962
Proceeds from the sales of rental property 340,148 0
Proceeds from sale of investments in unconsolidated joint ventures 7,129 6,095
Repayment of notes receivable 0 32
Investment in unconsolidated joint ventures 0 (226)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 9,229 8,553
Other investing activities 0 250
Net cash provided by (used in) investing activities - continuing operations 386,331 87,862
Net cash provided by (used in) investing activities - discontinued operations 0 77,182
Net cash provided by (used in) investing activities 386,331 165,044
CASH FLOW FROM FINANCING ACTIVITIES    
Borrowings from revolving credit facility 201,000 157,000
Repayment of revolving credit facility (322,000) 0
Borrowings from term loans 0 200,000
Repayments of term loans (200,000) 0
Repayment of mortgages, loans payable and other obligations (63,708) (533,318)
Redemption of redeemable noncontrolling interests, net 0 (15,700)
Common unit redemptions (456) 0
Payment of financing costs and derivative premiums, net (1,451) (14,401)
Contribution from noncontrolling interests 225 108
Distribution to noncontrolling interests (19,503) (1,735)
Distributions to redeemable noncontrolling interests (243) (464)
Payment of common dividends and distributions (24,781) (16,886)
Share issuance proceeds (costs), net 0 1,765
Payment for taxes related to the net share settlement of stock compensation awards (4,402) (3,992)
Net cash provided by (used in) financing activities (435,319) (227,623)
Net increase (decrease) in cash and cash equivalents 1,510 (22,111)
Cash, cash equivalents and restricted cash, beginning of period [3] 24,310 54,579
Cash, cash equivalents and restricted cash, end of period [4] 25,820 32,468
Noncash Investing and Financing Items [Abstract]    
Mortgage and loans payable assumed in real estate acquisitions 180,969 0
Mortgage and loans payable assigned through sales of rental property $ (41,000) $ 0
[1] Includes Restricted Cash of $17,059 and $26,572 as of December 31, 2024 and 2023, respectively.
[2] Includes Restricted Cash of $17,042 and $19,687 as of September 30, 2025 and 2024, respectively.
[3] Includes Restricted Cash of $17,059 and $26,572 as of December 31, 2024 and 2023, respectively.
[4] Includes Restricted Cash of $17,042 and $19,687 as of September 30, 2025 and 2024, respectively.