Veris Residential (NYSE:VRE) (NYSE: VRE) is a real estate investment trust that owns, operates, invests in, develops, acquires and repositions multifamily rental housing properties in high‐barrier‐to‐entry markets. The company pursues a targeted growth strategy, focusing on assets that offer the potential for value enhancement through renovations, operational improvements and selective development. With an emphasis on risk‐adjusted returns, Veris Residential seeks to balance a stable income profile with opportunities for long‐term capital appreciation.
The firm’s portfolio is concentrated in the New York City metropolitan area and select West Coast markets, including Los Angeles and Orange County, California. Its communities feature a range of floor plans and amenity offerings such as fitness centers, co‐working spaces, rooftop lounges and pet‐friendly services. By combining modern design elements with resident‐focused amenities, Veris Residential aims to differentiate its properties and foster strong occupancy trends.
Originally formed in 2016 as a spin‐off from Mack‐Cali Real Estate Corporation, Veris Residential has established a reputation as a specialist in the multifamily sector. Since its inception, the company has executed a disciplined acquisition and development program, assembling a multi‐thousand‐unit portfolio in markets characterized by limited supply and sustained population growth. Strategic partnerships with local developers and service providers support the firm’s ability to execute value‐add projects and new construction initiatives.
The company is led by President and Chief Executive Officer Lawrence R. Newman, who brings more than three decades of real estate finance, development and asset management experience. Under his leadership, Veris Residential has strengthened its operational platform and embraced initiatives in environmental sustainability, technology integration and community engagement. The firm’s executive team remains focused on optimizing portfolio performance and delivering long‐term value for shareholders and residents.
