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Veris Residential, L.P.

What Do They Do?

Owns, operates and develops multifamily rental properties for residents, alongside commercial properties and developable land.

How Do They Make Money?

Residents and commercial tenants pay rent under leases over the lease term; commercial tenants also reimburse certain property costs. The company also earns income from parking, management services and other tenant services.

Year to Dec 2015 revenue by reportable segment revenue
SegmentShareRevenue
Real Estate - Commercial And Other
90%
Year to Dec 2012: 98%
Real Estate - Multi Family
4.7%
Multi Family Services
5.6%
Year to Dec 2012: 0.7%

Who Are Their Customers?

Residents rent the multifamily properties, and commercial tenants lease commercial space. The company also provides property management and related services to unconsolidated joint ventures.

Do Revenues Turn Into Profits?

No. It lost $141M in Year to Dec 2015.

Operating income, Year to Dec 2015
−16% of revenue
▼ Now a loss vs Year to Dec 2014 ($88.8M, 14%)
Net income, Year to Dec 2015
−24% of revenue
▼ Now a loss vs Year to Dec 2014 ($32.2M, 5%)

How Are They Changing?

Since the latest annual report
  • May 27, 2026 Investor consortium completed Veris acquisition; shares ceased trading The all-cash deal paid $19.00 per share, and the stock ceased trading on the New York Stock Exchange.

Shrinking. Revenue fell 9% in 4 years, from $652.2M in Year to Dec 2011 to $594.9M in Year to Dec 2015, about 2% a year.

Revenue over time
Real Estate - Commercial And Other Real Estate - Multi Family Multi Family Services Corporate And Other
$1B$500M$0

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