Veris Residential is a multifamily REIT that owns and operates Class A apartment communities concentrated in the Northeast U.S., primarily in Jersey City (Waterfront and Port Imperial) and Boston. Veris targets affluent urban professionals — residents with average household incomes exceeding $480,000 — seeking high-quality, well-amenitized apartments with strong transit access to Manhattan. Veris argues its properties offer a compelling value proposition versus Manhattan, with generally newer and larger units at rents roughly 30% below comparable Manhattan properties. As of year-end 2025, Veris owned interests in 17 multifamily properties, with average revenue per unit of approximately $4,255. Veris is fully integrated and self-managed, handling property management, leasing, development, and capital allocation in-house, and has invested in a proprietary technology platform ("Prism") to drive operational efficiency. Veris earns rental revenue on standard 12-month leases, with same-store NOI growth — driven by rental rate increases and occupancy — as the primary earnings engine. Veris targets approximately 95% occupancy and manages controllable expenses through technology and centralization. The company carries meaningful leverage and is actively deleveraging through asset sales, which is directly accretive to Core FFO via lower interest expense. In February 2026, Veris announced a definitive agreement to be taken private by affiliates of Affinius Capital, GIC, and Vista Hill Partners at $19.00 per share, expected to close in Q2 2026.