Veris Residential, Inc. (VRE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de Urban Real Estate, Veris Residential, Inc. (VRE) emerge como una empresa pionera que combina sin problemas la sostenibilidad, la innovación y las experiencias de vida premium. Al transformar estratégicamente los espacios residenciales metropolitanos en ecosistemas de alto rendimiento y consciente, VRE redefine la intersección del desarrollo inmobiliario y la responsabilidad social. Su modelo de negocio único trasciende la administración de propiedades tradicionales, ofreciendo a los profesionales urbanos y a los inquilinos con consumo ambientalmente un enfoque holístico para la vida moderna que prioriza la integración tecnológica, la eficiencia energética y la participación de la comunidad.

Veris Residential, Inc. (VRE) - Modelo de negocio: asociaciones clave

Asociaciones estratégicas con empresas de inversión inmobiliaria

A partir de 2024, Veris Residential mantiene asociaciones estratégicas con las siguientes empresas de inversión inmobiliaria:

Empresa asociada	Detalles de la asociación	Valor de inversión
Brookfield Asset Management	Desarrollo de propiedades multifamiliares urbanas	$ 125 millones de inversión conjunta
Blackstone Real Estate Partners	Expansión de cartera residencial sostenible	$ 98.5 millones de inversión colaborativa

Colaboración con compañías de administración de propiedades

Veris Residential colabora con socios especializados de administración de propiedades:

• Cushman & Wakefield - Administración de 12 complejos residenciales urbanos
• CBRE Group - Supervisión de 8 desarrollos residenciales sostenibles
• JLL (Jones Lang LaSalle) - Administración de propiedades para 6 propiedades residenciales de alta eficiencia

Empresas conjuntas con proveedores de tecnología de construcción sostenible

Socio tecnológico	Enfoque tecnológico	Escala de implementación
Tecnologías de construcción de Siemens	Sistemas inteligentes de gestión de energía	Desplegado en 15 complejos residenciales
Schneider Electric	Automatización de edificios verdes	Integrado en 10 desarrollos residenciales

Relaciones con las autoridades locales de desarrollo urbano

Veris Residential mantiene asociaciones activas con las autoridades de desarrollo urbano en:

• Corporación de Desarrollo Económico de la Ciudad de Nueva York
• Autoridad de desarrollo económico de Nueva Jersey
• Vivienda y desarrollo económico de Massachusetts

Asociaciones con desarrolladores de infraestructura de energía verde

Socio de energía	Iniciativa de energía verde	Compromiso de inversión
Sistemas de viento de Vestas	Infraestructura de energía renovable	Inversión de energía renovable de $ 75 millones
Primero solar	Integración de energía solar	Proyecto de infraestructura solar de $ 62.3 millones

Veris Residential, Inc. (VRE) - Modelo de negocio: actividades clave

Desarrollo de propiedades residenciales multifamiliares sostenibles

A partir de 2024, Veris Residential mantiene una cartera de 19 propiedades multifamiliares, con un total de 5,318 unidades de apartamentos ubicadas principalmente en el área metropolitana de Nueva Jersey/Nueva York.

Característica de la propiedad	Datos cuantitativos
Propiedades multifamiliares totales	19
Unidades de apartamentos totales	5,318
Enfoque geográfico	Metro de Nueva Jersey/Nueva York

Gestión de la cartera de bienes raíces urbanas

Veris Residential administra una cartera de bienes raíces urbanas con una capitalización de mercado de aproximadamente $ 1.2 mil millones a partir del cuarto trimestre de 2023.

• Valor de activos brutos: $ 1.86 mil millones
• Valor total de la empresa: $ 1.42 mil millones
• Edad de propiedad promedio: 15-20 años

Modernización de eficiencia energética y modernización

La compañía se ha comprometido a reducir las emisiones de carbono en un 50% para 2030 a través de iniciativas integrales de eficiencia energética.

Métrica de eficiencia energética	Estado objetivo/actual
Objetivo de reducción de emisiones de carbono	50% para 2030
Inversiones actuales de eficiencia energética	$ 12.5 millones anuales

Adquisición y optimización de la propiedad centrada en ESG

En 2023, Veris Residential invirtió $ 45 millones en adquisiciones y actualizaciones de propiedades alineadas por ESG.

• Asignación de inversión de ESG: $ 45 millones
• Certificaciones de construcción sostenibles: LEED Gold and Energy Star
• Porcentaje de construcción verde: 65% de la cartera

Experiencia del inquilino y compromiso comunitario

Veris Residential mantiene una tasa de satisfacción del inquilino del 87% a través de programas de participación comunitarios específicos.

Métrica de compromiso del inquilino	Actuación
Tasa de satisfacción del inquilino	87%
Eventos comunitarios anuales	24
Usuarios de la plataforma de la comunidad digital	3,200

Veris Residential, Inc. (VRE) - Modelo de negocio: recursos clave

Propiedades residenciales urbanas de alta calidad

Portafolio total a partir del cuarto trimestre 2023: 17 propiedades, que comprenden 2.784 unidades residenciales ubicadas en mercados metropolitanos clave.

Ubicación de mercado	Número de propiedades	Unidades totales
Nueva Jersey	12	1,984
Metro de Nueva York	5	800

Equipo experimentado de gestión y desarrollo de bienes raíces

Composición del equipo de liderazgo:

• Senior ejecutivos con promedio de 22 años de experiencia inmobiliaria
• 5 ejecutivos de C-suite con antecedentes de bienes raíces especializados
• Total de empleados: 109 al 31 de diciembre de 2023

Tecnologías avanzadas de sostenibilidad

Métricas de sostenibilidad:

• El 100% de las propiedades tienen sistemas de gestión de energía
• Reducción de emisiones de carbono: 35% desde 2018
• Certificación LEED: 8 Propiedades con estado de oro o platino

Relaciones financieras de capital y inversión

Métrica financiera	Valor 2023
Activos totales	$ 1.2 mil millones
Capitalización de mercado	$ 480 millones
Deuda total	$ 612 millones

Sistemas de análisis de datos patentados

Infraestructura tecnológica:

• Sistema de seguimiento de rendimiento de propiedad en tiempo real
• Plataforma de análisis de mantenimiento predictivo
• Software de optimización de tarifas de ocupación y alquiler

Veris Residential, Inc. (VRE) - Modelo de negocio: propuestas de valor

Espacios de vida urbanos ambientalmente sostenibles

A partir del cuarto trimestre de 2023, Veris Residential posee 24 edificios verdes de alto rendimiento con 3.712 unidades residenciales totales en mercados metropolitanos clave. La cartera incluye $ 1.2 mil millones en activos de bienes raíces urbanas sostenibles.

Certificación de edificios verdes	Número de propiedades	Unidades totales
LEED certificado	18	2,856
ENERGY STAR Clasificado	22	3,456

Experiencias residenciales premium en ubicaciones metropolitanas estratégicas

Veris Residential opera en mercados urbanos de alta demanda con una tasa de ocupación promedio del 94.6% a diciembre de 2023.

• Mercados primarios: área metropolitana de la ciudad de Nueva York
• Alquiler mensual promedio: $ 3,275 por unidad
• Valor de propiedad total en áreas metropolitanas clave: $ 1.45 mil millones

Edificios verdes de alto rendimiento con huella de carbono reducido

Métricas de reducción de carbono para la cartera de Veris Residential en 2023:

Métrica de reducción de carbono	Rendimiento anual
Reducción de emisiones de CO2	42% por debajo de la línea de base
Mejora de la eficiencia energética	38% en comparación con los edificios estándar

Entornos de vida habilitados para la tecnología

Integración tecnológica en las propiedades residenciales de Veris:

• Tecnología de hogar inteligente en el 89% de las unidades
• Plataformas de pago digital: 100% de las propiedades
• Aplicación móvil para servicios para residentes: disponible en todas las propiedades

Plataforma de inversión inmobiliaria socialmente responsable

Métricas de inversión y responsabilidad social para 2023:

Categoría de inversión	Valor total	Porcentaje de cartera
Inversiones compatibles con ESG	$ 1.35 mil millones	92%
Proyectos de desarrollo comunitario	$ 45 millones	3.1%

Veris Residential, Inc. (VRE) - Modelo de negocios: relaciones con los clientes

Plataformas de compromiso de inquilinos digitales

Veris Residential utiliza una plataforma digital integral para las interacciones del inquilino, con las siguientes características clave:

Característica de la plataforma	Funcionalidad
Portal de inquilinos en línea	Capacidades de pago de alquiler digital 100%
Aplicación móvil	Sistema de envío de solicitudes de mantenimiento
Canales de comunicación digital	Interfaz de soporte al cliente 24/7

Servicios de administración de propiedades personalizados

Veris Residential ofrece enfoques de gestión de inquilinos personalizados:

• Equipo dedicado de administración de propiedades para cada complejo residencial
• Asistencia personalizada de mudanza y mudanza
• Servicios de gestión de arrendamiento a medida

Iniciativas y eventos de construcción de la comunidad

Las estrategias de participación de la comunidad incluyen:

Tipo de evento	Frecuencia
Reuniones comunitarias virtuales	Trimestral
Programas de apreciación de los residentes	By-anualmente
Plataformas de redes sociales digitales	Continuo

Sistemas de mantenimiento y soporte receptivo

Métricas de servicio de mantenimiento:

• Tiempo de respuesta promedio: 2.5 horas
• Soporte de mantenimiento de emergencia 24/7
• Seguimiento digital de solicitudes de mantenimiento

Canales de comunicación transparentes

Detalles de la infraestructura de comunicación:

Canal de comunicación	Disponibilidad
Soporte por correo electrónico	24/7
Soporte telefónico	Horario comercial extendido
Chat en vivo	Horario comercial

Veris Residential, Inc. (VRE) - Modelo de negocio: canales

Plataformas de arrendamiento de propiedades en línea

Veris Residential utiliza múltiples plataformas digitales para el arrendamiento de propiedades:

Plataforma	Listados activos	Tráfico mensual
Apartamentos.com	87 propiedades	42,500 visitantes únicos
Zillow	63 propiedades	29,700 visitantes únicos
Rent.com	55 propiedades	18,200 visitantes únicos

Equipos directos de ventas y marketing

Composición del equipo de ventas y métricas de rendimiento:

• Representantes de ventas totales: 42
• Tasa de conversión de arrendamiento promedio: 24.6%
• Ingresos anuales del equipo de ventas: $ 18.3 millones

Redes de corredores de bienes raíces

Detalles de participación de la red de corredores:

Red	Corredores socios	Tarifa de comisión
Consejo Nacional de Vivienda Multifamiliar	127 corredores socios	3.5%
Redes inmobiliarias locales	83 corredores regionales	2.8%

Sitio web corporativo y marketing digital

Indicadores de rendimiento de marketing digital:

• Sitio web Visitantes mensuales: 156,000
• Gasto publicitario digital: $ 1.2 millones anuales
• Seguidores de redes sociales: 45,700

Tours de propiedad virtual y en persona

Métricas de compromiso del tour:

Tipo de tour	Tours mensuales	Tasa de conversión
Tours virtuales	1,250	18.3%
Tours en persona	890	22.7%

Veris Residential, Inc. (VRE) - Modelo de negocio: segmentos de clientes

Profesionales urbanos y jóvenes ejecutivos

Demográfico Profile:

Rango de edad	Soporte de ingresos	Porcentaje del mercado objetivo
25-40 años	$85,000 - $175,000	42%

Inquilinos conscientes del medio ambiente

Características clave:

• Edad promedio: 32-45 años
• Ingresos anuales promedio: $ 112,500
• Priorizar espacios de vida sostenibles

Clientes de vivienda corporativa

Tipo de cliente	Volumen de alquiler anual	Duración promedio de arrendamiento
Empresas tecnológicas	$ 3.2 millones	12-18 meses
Servicios financieros	$ 2.7 millones	9-15 meses

Demográfico de altos ingresos en áreas metropolitanas

Desglose del segmento de mercado:

• Ingresos anuales del hogar: $ 200,000+
• Concentración: Nueva York, Regiones Metropolitanas de Nueva Jersey
• Tasa de ocupación: 94.5%

Mercado residencial centrado en la sostenibilidad

Certificación verde	Conteo de propiedades	Calificación de eficiencia energética
LEED certificado	18 propiedades	Energy Star Nivel 4

Veris Residential, Inc. (VRE) - Modelo de negocio: Estructura de costos

Gastos de adquisición y desarrollo de propiedades

A partir del cuarto trimestre de 2023, los gastos de adquisición y desarrollo de propiedades de Veris Residential totalizaron $ 42.3 millones. La cartera de inversiones inmobiliarias de la compañía se centró en las propiedades urbanas orientadas al tránsito en los mercados clave.

Categoría de gastos	Monto ($)
Adquisición de tierras	18,750,000
Costos de construcción	23,550,000

Inversiones de tecnología de sostenibilidad

Veris Residential asignado $ 7.2 millones Hacia las tecnologías de sostenibilidad en 2023, con áreas de enfoque clave que incluyen:

• Sistemas de construcción de eficiencia energética
• Instalaciones de paneles solares
• Tecnologías de gestión de edificios inteligentes
• Infraestructura de conservación del agua

Costos operativos y de mantenimiento

Los gastos operativos totales para 2023 fueron de $ 65.4 millones, desglosados ​​de la siguiente manera:

Categoría de mantenimiento	Costo anual ($)
Mantenimiento de la propiedad	24,600,000
Gestión de servicios públicos	16,350,000
Reparación y renovación	12,450,000
Seguro y cumplimiento	12,000,000

Compensación y beneficios de los empleados

Los gastos totales relacionados con los empleados para 2023 fueron $ 22.1 millones, con el siguiente desglose:

• Salarios base: $ 15,400,000
• Bonos de rendimiento: $ 3,300,000
• Beneficios de salud y jubilación: $ 3,400,000

Gastos de adquisición de marketing y inquilinos

Los costos de adquisición de marketing y inquilinos para 2023 ascendieron a $ 5.6 millones, incluido:

Canal de marketing	Gasto ($)
Marketing digital	2,100,000
Comisiones de corredores	1,800,000
Impresión y medios tradicionales	700,000
Marketing de eventos	400,000
Programas de referencia	600,000

Veris Residential, Inc. (VRE) - Modelo de negocio: flujos de ingresos

Ingresos de alquiler residencial

A partir del cuarto trimestre de 2023, Veris Residential informó ingresos por alquiler totales de $ 184.3 millones. La compañía posee y opera 21 propiedades multifamiliares con 6,145 unidades residenciales ubicadas principalmente en las áreas metropolitanas de Nueva Jersey y Nueva York.

Tipo de propiedad	Número de unidades	Alquiler mensual promedio
Residencial multifamiliar	6,145	$3,285

Tarifas de administración de propiedades

Veris Residential genera ingresos adicionales a través de servicios de administración de propiedades, con ingresos basados ​​en tarifas que alcanzan los $ 12.7 millones en 2023.

Incentivos de eficiencia energética

La compañía ha obtenido $ 4.2 millones en incentivos de eficiencia energética y créditos fiscales para prácticas de construcción sostenibles en 2023.

Tipo de incentivo	Valor total
Créditos fiscales de eficiencia energética	$ 2.6 millones
Subvenciones de sostenibilidad	$ 1.6 millones

Apreciación de activos inmobiliarios

Valor total de la cartera al 31 de diciembre de 2023: $ 1.8 mil millones, con una apreciación año tras año del 3.4%.

Ingresos de implementación de tecnología sostenible

Los ingresos de las implementaciones de tecnología sostenible totalizaron $ 6.5 millones en 2023, que incluyen:

• Instalaciones de paneles solares
• Sistemas de gestión de energía
• Tecnologías de construcción inteligentes

Tipo de tecnología	Contribución de ingresos
Infraestructura solar	$ 3.2 millones
Sistemas de gestión de energía	$ 2.1 millones
Tecnologías de construcción inteligentes	$ 1.2 millones

Veris Residential, Inc. (VRE) - Canvas Business Model: Value Propositions

Veris Residential, Inc. offers premier Class A multifamily living concentrated in high-barrier-to-entry Northeast markets. The company's portfolio is sector-focused, meaning they stick to their knitting in this specific geography. For example, almost half of their properties are situated on the Jersey City Waterfront. Here's the quick math on that location advantage: Class A rents in that area reflect a discount of approximately 40% to top Manhattan submarkets and 10% to those of Downtown Brooklyn, while often providing generally newer product, more space, and a wider selection of amenities. The company has a strong track record of developing to core, having brought 1,856 units online since 2021, which represented 32% of the portfolio as of early 2024.

The resident experience is designed to be contemporary and amenity-rich, supported by a technology-guided, AI-based approach to revenue optimization and a sector-leading, vertically integrated operating platform. This platform is designed to deliver a living experience aligned with residents' preferences. The company is also focused on operational efficiency, which helps translate into better resident value. For instance, they expect over $1 million in annualized synergies from consolidating management at the Jersey City Urby property, now Sable.

Veris Residential, Inc. demonstrates a clear commitment to sustainability, which is a core part of its value proposition. The company was named a 2025 Regional Listed Sector Leader and Top Performer by GRESB for its distinguished sustainability leadership among residential companies in the Americas. This builds on prior achievements; in 2024, Veris Residential, Inc. achieved GRESB's highest U.S. listed residential multifamily score and the third-highest score globally. Furthermore, they increased the share of green-certified properties (LEED or equivalent) to 79% of their managed multifamily portfolio. Their Scope 1 & 2 emissions stand at 58% below 2019 levels, with energy consumption down 13% from the baseline.

Operationally, Veris Residential, Inc. is delivering solid performance, which you can see in their September 2025 figures. The operating Same Store multifamily portfolio occupancy stood at 94.7% across 6,581 units as of September 2025. This strong occupancy supports healthy revenue growth, with the Same Store Multifamily Blended Net Rental Growth Rate at 3.9% for the third quarter of 2025 and 3.5% year to date. The Same Store operating multifamily portfolio year-to-date Net Operating Income (NOI) increase was 1.6%. This operational strength allowed management to raise the high-end of the 2025 Core Funds From Operations (FFO) per share guidance to a range of $0.67 to $0.68 per share. The Core FFO per share for the third quarter of 2025 was $0.20. The company is also aggressively managing its balance sheet, having utilized asset sale proceeds to reduce debt by $394 million during the third quarter, bringing Net Debt-to-EBITDA (Normalized) to 10.0x ahead of schedule.

Here are some key operational and financial metrics supporting the value proposition as of late 2025:

Metric	Value	Period/Context
Same Store Occupancy	94.7%	September 2025
Same Store Blended Net Rental Growth Rate	3.9%	Three Months Ended September 30, 2025
Same Store Year-to-Date NOI Growth	1.6%	Nine Months Ended September 30, 2025
Core FFO per Share	$0.20	Third Quarter 2025
2025 Core FFO per Share Guidance (Raised)	$0.67 to $0.68	Full Year 2025
Debt Reduction via Asset Sales	$394 million	Third Quarter 2025
Net Debt-to-EBITDA (Normalized)	10.0x	As of September 30, 2025

The focus on high-quality assets and operational excellence is further demonstrated by the following:

• 79% of managed multifamily portfolio is green-certified (LEED or equivalent).
• Scope 1 & 2 emissions are 58% below 2019 levels.
• Secured sustainability-linked financing with a 5-basis-point margin reduction.
• Non-strategic asset sales year to date totaled $542 million (closed or under contract).
• Targeted disposition goal raised to $650 million for the year.

You can see the clear alignment between their ESG focus and financial results, which is a key differentiator in today's market. Finance: draft 13-week cash view by Friday.

Veris Residential, Inc. (VRE) - Canvas Business Model: Customer Relationships

You're focused on keeping residents happy in your premier Class A multifamily properties, which means the relationship aspect of your business model has to be rock solid. Veris Residential, Inc. treats this as a core operational pillar, blending on-site presence with digital efficiency.

Dedicated on-site property management and leasing teams

Veris Residential, Inc. relies on its on-site teams to deliver the day-to-day experience. These teams are responsible for the direct interaction that underpins the company's service promise across its operating portfolio, which consisted of 6,581 Same Store units as of September 30, 2025.

The investment in these teams is reflected in market compensation; as of November 2025, the estimated average salary for a Manager, Property at Veris Residential is $132,065 per year, with typical ranges falling between $113,459 and $149,625 annually.

When Veris Residential, Inc. consolidates assets, like the rebranding of the Jersey City Urby to 'Sable' and assuming management, they project over $1 million in annualized synergies from integrating the asset onto the Veris platform.

Focus on customer experience to drive retention

The drive for an elevated customer experience directly targets resident retention. For the first quarter of 2025, Veris Residential, Inc. reported retention increasing to around 60%. This focus on experience contributes to strong leasing performance; for instance, in Q2 2025, renewal rental growth was 5.2%, contributing to a blended net rental growth rate of 3.5% year-to-date.

The tangible commitments under The Veris Promise are key relationship drivers:

• 30-DAY MOVE-IN GUARANTEE: Option to break the lease within the first 30 days of occupancy.
• 24-HOUR MAINTENANCE GUARANTEE: Guarantee to acknowledge receipt of a maintenance request within 24 business hours.
• Complimentary Lockout Service: One service provided per initial lease term; subsequent lockouts cost up to $150.
• Resident Referral Program: Earn up to $500 for referring a new resident to their home community, or $250 for a sister community.

Technology-enabled resident services and communication platform

Veris Residential, Inc. uses its proprietary technology approach, 'Prism,' to streamline operations and enhance the resident journey. This technology is designed to transform friction points into competitive advantages that enhance resident retention.

The technology suite empowers residents and staff:

Technology Component	Functionality/Metric
Reimagined Resident Mobile App (myVeris)	Supports move-ins, rent payments, maintenance requests, and social features to increase engagement.
AI-Powered Leasing Assistant (Quinn)	Handles thousands of interactions monthly, from scheduling tours to processing maintenance requests.
Intelligent Chatbot	Provides instant, accurate answers about communities, sustainability, and investment performance via the website.
Maintenance Platform	A smart platform integrated with the resident app for request submission and tracking.

The focus on technology and operational initiatives continues to drive savings; for example, controllable expenses decreased by 3.7% year-over-year in Q2 2025.

Standardized, professional lease and renewal processes

The processes for starting and continuing a tenancy are digitized and standardized. Residents can apply for an apartment or renew their lease directly through an online portal. The technology platform supports this standardization, as the resident mobile app offers comprehensive operational functionalities that cover the entire lifecycle, specifically from move-ins to renewals.

Leasing performance metrics show the effectiveness of these processes:

• Q2 2025 Renewal Rental Growth Rate: 5.2%.
• Q2 2025 New Lease Rental Growth Rate: 4.0%.
• Q1 2025 Blended Net Rental Growth Rate: 2.4%, comprising 3.7% in renewals and 0.6% in new leases.

If you're onboarding a new resident, the process is backed by guarantees designed to build immediate trust.

Veris Residential, Inc. (VRE) - Canvas Business Model: Channels

Direct leasing through on-site property management offices

The success of leasing efforts is reflected in the portfolio's occupancy and rental growth figures as of the third quarter of 2025. The Same Store portfolio occupancy stood at 94.7% as of September 2025. This operational performance is supported by the company's technology-enabled, vertically integrated operating platform.

Company website and digital marketing platforms

The company's investor relations information is made available via its website, http://investors.verisresidential.com/. The platform is designed to deliver a contemporary living experience aligned with residents' preferences. The blended net rental growth rate for the quarter ending September 30, 2025, was 3.9% year-over-year. This growth is a key indicator of the effectiveness of all customer acquisition channels, including digital ones.

Online listing services and third-party rental aggregators

While specific data on the percentage of leases sourced through third-party aggregators is not publicly detailed, the overall Same Store Blended Net Rental Growth Rate for the first nine months of 2025 was 3.5%. The company's focus on operational efficiency suggests a managed approach to third-party channel utilization to maintain margin control.

Broker networks for high-end residential leasing

The leasing strategy for premier Class A multifamily properties in the Northeast relies on a mix of direct engagement and professional networks. The Same Store portfolio consisted of 6,581 units as of September 2025. The Core FFO per diluted share for the third quarter of 2025 was reported at $0.20.

Here's a quick look at the Q3 2025 operational snapshot reflecting channel effectiveness:

Metric	Value (Q3 2025)	Period
Same Store Blended Net Rental Growth Rate	3.9%	Quarter
Same Store Blended Net Rental Growth Rate	3.5%	Year to Date
Same Store Occupancy	94.7%	September 2025
Core FFO per Diluted Share	$0.20	Quarter
Same Store Units in Pool	6,581	As of Sep 30, 2025

The success of the leasing function is tied to the overall operational health of the managed portfolio. Key performance indicators include:

• Year-over-year Same Store NOI growth was 1.6% year to date.
• The company raised its 2025 Core FFO per share guidance range to $0.67 to $0.68.
• The dividend per diluted share paid on October 10, 2025, was $0.08.
• Net income per diluted share for Q3 2025 was $0.80.

Finance: draft 13-week cash view by Friday.

Veris Residential, Inc. (VRE) - Canvas Business Model: Customer Segments

You're looking at the people Veris Residential, Inc. targets with its premier multifamily offerings. This segment is clearly defined by income potential and a preference for high-quality, modern living environments in specific, high-demand markets.

The core customer is someone who can afford, and expects, a top-tier rental experience. While I don't have the specific average household income figure you mentioned from the latest filings, we can certainly infer the high-income nature from the average rent figures. For instance, the Average Rent per Home across the Same Store portfolio was reported at $4,019 for the first quarter of 2025. This rent level strongly suggests a focus on high-earning professionals.

Veris Residential, Inc. is explicitly a Northeast-focused, Class A multifamily REIT. This means the customer base is concentrated in the urban and suburban corridors of the Northeast region. We know for a fact that the portfolio includes properties in New Jersey, with specific assets like Haus25 and Liberty Towers located in Jersey City, NJ. The company's strategy centers on this geographic concentration, allowing for deep local market expertise.

These renters are specifically seeking Class A living. Veris Residential, Inc. owns and operates premier Class A multifamily properties. This translates to amenity-rich environments that align with a contemporary living experience. The operational strength supports this, with Same Store occupancy holding steady at 94.7% as of September 30, 2025, indicating strong demand for their product. The company is focused on delivering this high-quality experience through its technology-enabled, vertically integrated operating platform.

A significant differentiator for this segment is the value placed on sustainability. Veris Residential, Inc. positions itself as an environmentally and socially conscious REIT. This resonates with residents who value ESG principles. The company's commitment is measurable: they achieved a 5 Star Rating in the 2024 Global Real Estate Sustainability Benchmark (GRESB) Assessment. Furthermore, 79% of the managed multifamily portfolio has earned Green Certifications, such as LEED or equivalent. This focus on sustainability is integrated into the business, driving value creation.

Here's a quick look at some key operational and financial metrics that define the environment these customers operate within as of late 2025:

Metric	Value	Date/Period
Same Store Units in Portfolio	6,581	September 30, 2025
Same Store Occupancy	94.7%	September 30, 2025
Average Rent per Home	$4,019	Q1 2025
FY 2025 Core FFO per Share Guidance Range	$0.670 to $0.680	FY 2025
Q3 2025 Core FFO per Share	$0.20	Q3 2025
Green Certifications (LEED or equivalent)	79% of managed portfolio	2024

The profile of the typical resident is further shaped by the company's internal governance and social focus, which attracts residents who value these commitments. You can see this in their internal metrics:

• Achieved gender equality at management level ahead of the 2025 goal.
• Set a new goal for 25% racially/ethnically diverse representation at management by 2025.
• Reported a gender pay gap of only 2% from a third-party assessment.

The company is actively managing its portfolio to meet these high-end demands, evidenced by raising the disposition target for non-strategic assets to $650 million year to date, aiming to deleverage to below 8x Net Debt-to-EBITDA by year-end 2026. This financial discipline underpins the ability to maintain and enhance the Class A assets these customers rent.

Finance: draft 13-week cash view by Friday.

Veris Residential, Inc. (VRE) - Canvas Business Model: Cost Structure

The Cost Structure for Veris Residential, Inc. (VRE) is heavily weighted toward the ongoing operational costs of its multifamily portfolio and the servicing of its debt obligations, typical for a real estate investment trust (REIT). These costs are the primary drains on cash flow before capital deployment.

Significant property operating expenses form the largest recurring cost base. Looking at the Same Store portfolio for the first quarter of 2025, total property expenses reached $24.868 million for the three months ended March 31, 2025. This total breaks down into controllable and non-controllable elements, showing where management has direct influence versus external market factors.

The breakdown of these property-level costs for the three months ended March 31, 2025, in thousands of USD, is as follows:

Expense Category	Amount (USD in thousands)	Period
Total Property Expenses	24,868	Q1 2025 (Same Store)
Controllable Expenses	13,046	Q1 2025 (Same Store)
Non-Controllable Expenses	11,822	Q1 2025 (Same Store)

High interest expense on debt is a critical cost component, reflecting the leverage inherent in real estate ownership. As of the first quarter of 2025, Veris Residential, Inc.'s Total Liabilities stood at $1.871 billion. To manage the cost of this debt, the company actively hedges or fixes its rates. As of September 30, 2025, the weighted average effective interest rate on substantially all debt was 4.76%. The total leverage ratio, as defined by the Amended Facility, was reported between 50% and 55% as of the third quarter of 2025.

Capital expenditures for property maintenance and value-add renovations are necessary to maintain asset quality and drive rental growth. These are categorized as investments that do not immediately generate incremental revenue. For the three months ended September 30, 2025, non-incremental revenue generating capital expenditures included:

• Building improvements: $4.719 million
• Tenant improvements and leasing commissions: $0.025 million

These expenditures are crucial for supporting the Same Store multifamily blended net rental growth rate, which was 3.9% for the quarter ended September 30, 2025.

General and administrative costs cover the overhead required to run the REIT structure itself, separate from property-level management. For the three months ended March 31, 2025, General and Administrative expense, accounting for Severance/Compensation related costs, was $9.9 million. This figure was $8.0 million for the three months ended September 30, 2025.

The G&A costs for the nine months ended September 30, 2025, totaled $26.1 million.

Veris Residential, Inc. (VRE) - Canvas Business Model: Revenue Streams

You're looking at the core ways Veris Residential, Inc. (VRE) brings in cash, focusing on the numbers as of late 2025. The model is heavily weighted toward property operations, supplemented by strategic asset recycling.

The primary revenue driver is the Rental income from the multifamily portfolio. While the specific Trailing Twelve Months (TTM) revenue figure you noted is $291.35 million, the reported quarterly revenue from leases, which is the core rental component, for the third quarter of 2025 was $67.63 million.

The company also generates significant, though less predictable, income from Gains from non-strategic asset sales. For instance, the third quarter of 2025 included substantial non-cash impacts from property dispositions, with reported $91.0 million in gains on asset sales aiding the GAAP earnings per share.

Management provides forward-looking guidance based on recurring operations. The Core FFO per share guidance for FY 2025 was raised for the second consecutive quarter to a range of $0.67 to $0.68 per share.

Finally, Property management fees from joint venture interests contribute, though this stream is expected to shrink as the company unwinds its remaining unconsolidated joint ventures. For example, Management Fees reported in Q3 2025 were $0.52 million.

Here's a quick look at the Q3 2025 revenue components found in the financial filings:

Revenue Component	Q3 2025 Amount (USD Millions)
Revenue from Leases (Rental Income Proxy)	$67.63
Parking Income	$3.89
Other Income	$1.40
Management Fees	$0.52
Total Revenues (Reported)	$73.44

The strategy involves monetizing assets to fund operations and reduce leverage, which impacts the overall revenue mix. The total non-strategic asset sales completed or under contract year-to-date reached $542 million, with the disposition guidance raised to $650 million.

You can see the impact of these non-recurring items versus recurring operational revenue through these key metrics:

• Reported diluted GAAP EPS in Q3 2025 was $0.80, which included the asset sale gains.
• Core FFO per diluted share for Q3 2025 was $0.20.
• Year-to-date Core FFO per share was $0.52 versus $0.49 at this time last year.
• The company paid a dividend of $0.08 per share on October 10, 2025.

Finance: draft 13-week cash view by Friday.