VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands |
Sep. 30, 2022 |
Dec. 31, 2021 |
| Rental property |
|
|
| Land and leasehold interests |
$ 492,456
|
$ 494,935
|
| Buildings and improvements |
3,341,381
|
3,375,266
|
| Tenant improvements |
112,071
|
106,654
|
| Furniture, fixtures and equipment |
96,882
|
100,011
|
| Gross investment in rental property |
4,042,790
|
4,076,866
|
| Less – accumulated depreciation and amortization |
(611,759)
|
(583,416)
|
| Total investment in rental property |
3,431,031
|
3,493,450
|
| Real estate held for sale, net |
464,954
|
618,646
|
| Net investment in rental property |
3,895,985
|
4,112,096
|
| Cash and cash equivalents |
38,357
|
31,754
|
| Restricted cash |
25,702
|
19,701
|
| Investments in unconsolidated joint ventures |
129,575
|
137,772
|
| Unbilled rents receivable, net |
54,355
|
72,285
|
| Deferred charges and other assets, net |
109,781
|
151,347
|
| Accounts receivable |
2,337
|
2,363
|
| Total assets |
4,256,092
|
4,527,318
|
| LIABILITIES AND EQUITY |
|
|
| Revolving credit facility and term loans |
109,000
|
148,000
|
| Mortgages, loans payable and other obligations, net |
2,157,706
|
2,241,070
|
| Dividends and distributions payable |
110
|
384
|
| Accounts payable, accrued expenses and other liabilities |
80,618
|
134,977
|
| Rents received in advance and security deposits |
25,751
|
26,396
|
| Accrued interest payable |
5,931
|
5,760
|
| Total liabilities |
2,379,116
|
2,556,587
|
| Commitments and contingencies |
|
|
| Redeemable noncontrolling interests |
514,914
|
521,313
|
| Veris Residential, Inc. stockholders’ equity: |
|
|
| Common stock, $0.01 par value, 190,000,000 shares authorized, 91,083,837 and 90,948,008 shares outstanding |
911
|
909
|
| Additional paid-in capital |
2,529,645
|
2,530,383
|
| Dividends in excess of net earnings |
(1,333,256)
|
(1,249,319)
|
| Accumulated other comprehensive income (loss) |
4,279
|
9
|
| Total Veris Residential, Inc. stockholders’ equity |
1,201,579
|
1,281,982
|
| Noncontrolling interests in subsidiaries: |
|
|
| Operating Partnership |
122,560
|
127,053
|
| Consolidated joint ventures |
37,923
|
40,383
|
| Total noncontrolling interests in subsidiaries |
160,483
|
167,436
|
| Total equity |
1,362,062
|
1,449,418
|
| Total liabilities and equity |
$ 4,256,092
|
$ 4,527,318
|