VERIS RESIDENTIAL, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands |
Sep. 30, 2023 |
Dec. 31, 2022 |
| Rental property |
|
|
| Land and leasehold interests |
$ 476,207
|
$ 492,204
|
| Buildings and improvements |
2,841,573
|
3,332,315
|
| Tenant improvements |
40,846
|
122,509
|
| Furniture, fixtures and equipment |
101,793
|
99,094
|
| Gross investment in rental property |
3,460,419
|
4,046,122
|
| Less – accumulated depreciation and amortization |
(460,664)
|
(631,910)
|
| Total investment in rental property |
2,999,755
|
3,414,212
|
| Real estate held for sale, net |
99,183
|
193,933
|
| Net investment in rental property |
3,098,938
|
3,608,145
|
| Cash and cash equivalents |
17,274
|
26,782
|
| Restricted cash |
23,603
|
20,867
|
| Investments in unconsolidated joint ventures |
119,830
|
126,158
|
| Unbilled rents receivable, net |
5,626
|
39,734
|
| Deferred charges and other assets, net |
60,764
|
96,162
|
| Accounts receivable |
3,855
|
2,920
|
| Total assets |
3,329,890
|
3,920,768
|
| LIABILITIES AND EQUITY |
|
|
| Revolving credit facility and term loans |
59,067
|
0
|
| Mortgages, loans payable and other obligations, net |
1,853,799
|
1,903,977
|
| Dividends and distributions payable |
$ 5,221
|
$ 110
|
| Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] |
Accounts payable, accrued expenses and other liabilities
|
Accounts payable, accrued expenses and other liabilities
|
| Accounts payable, accrued expenses and other liabilities |
$ 57,737
|
$ 72,041
|
| Rents received in advance and security deposits |
15,916
|
22,941
|
| Accrued interest payable |
6,845
|
7,131
|
| Total liabilities |
1,998,585
|
2,006,200
|
| Commitments and contingencies |
|
|
| Redeemable noncontrolling interests |
40,231
|
515,231
|
| Veris Residential, Inc. stockholders’ equity: |
|
|
| Common stock, $0.01 par value, 190,000,000 shares authorized, 92,217,463 and 91,141,649 shares outstanding |
920
|
911
|
| Additional paid-in capital |
2,551,137
|
2,532,182
|
| Dividends in excess of net earnings |
(1,408,313)
|
(1,301,385)
|
| Accumulated other comprehensive income |
3,866
|
3,977
|
| Total Veris Residential, Inc. stockholders’ equity |
1,147,610
|
1,235,685
|
| Noncontrolling interests in subsidiaries: |
|
|
| Operating Partnership |
108,214
|
126,109
|
| Consolidated joint ventures |
35,250
|
37,543
|
| Total noncontrolling interests in subsidiaries |
143,464
|
163,652
|
| Total equity |
1,291,074
|
1,399,337
|
| Total liabilities and equity |
$ 3,329,890
|
$ 3,920,768
|