VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands |
Jun. 30, 2022 |
Dec. 31, 2021 |
| Rental property |
|
|
| Land and leasehold interests |
$ 499,042
|
$ 494,935
|
| Buildings and improvements |
3,392,977
|
3,375,266
|
| Tenant improvements |
108,895
|
106,654
|
| Furniture, fixtures and equipment |
117,543
|
100,011
|
| Gross investment in rental property |
4,118,457
|
4,076,866
|
| Less – accumulated depreciation and amortization |
(620,414)
|
(583,416)
|
| Total investment in rental property |
3,498,043
|
3,493,450
|
| Real estate held for sale, net |
368,625
|
618,646
|
| Net investment in rental property |
3,866,668
|
4,112,096
|
| Cash and cash equivalents |
29,073
|
31,754
|
| Restricted cash |
24,356
|
19,701
|
| Investments in unconsolidated joint ventures |
132,790
|
137,772
|
| Unbilled rents receivable, net |
51,500
|
72,285
|
| Deferred charges and other assets, net |
203,467
|
151,347
|
| Accounts receivable |
3,143
|
2,363
|
| Total assets |
4,310,997
|
4,527,318
|
| LIABILITIES AND EQUITY |
|
|
| Revolving credit facility and term loans |
76,000
|
148,000
|
| Mortgages, loans payable and other obligations, net |
2,151,489
|
2,241,070
|
| Dividends and distributions payable |
111
|
384
|
| Accounts payable, accrued expenses and other liabilities |
69,220
|
134,977
|
| Rents received in advance and security deposits |
25,422
|
26,396
|
| Accrued interest payable |
5,257
|
5,760
|
| Total liabilities |
2,327,499
|
2,556,587
|
| Commitments and contingencies |
|
|
| Redeemable noncontrolling interests |
516,325
|
521,313
|
| Veris Residential, Inc. stockholders’ equity: |
|
|
| Common stock, $0.01 par value, 190,000,000 shares authorized, 91,062,532 and 90,948,008 shares outstanding |
911
|
909
|
| Additional paid-in capital |
2,525,466
|
2,530,383
|
| Dividends in excess of net earnings |
(1,232,038)
|
(1,249,319)
|
| Accumulated other comprehensive income (loss) |
1,941
|
9
|
| Total Veris Residential, Inc. stockholders’ equity |
1,296,280
|
1,281,982
|
| Noncontrolling interests in subsidiaries: |
|
|
| Operating Partnership |
132,250
|
127,053
|
| Consolidated joint ventures |
38,643
|
40,383
|
| Total noncontrolling interests in subsidiaries |
170,893
|
167,436
|
| Total equity |
1,467,173
|
1,449,418
|
| Total liabilities and equity |
$ 4,310,997
|
$ 4,527,318
|