Veris Residential, Inc. · NYSE:VRE
Veris Residential — Investor Presentation (June 2023)
23 slides from Veris Residential's investor presentation, Jun 5, 2023
Slide 1: Corporate Presentation
CORPORATE PRESENTATION, JUNE 6, 2023 | 1 Overview | Portfolio | ESG | Appendix S E R V I N G P R O P E RT I E S , P E O P L E , A N D T H E P L A N E T. Corporate Presentation JUNE 6, 2023
Slide 2: Forward-Looking Statements
| 2 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 This Operating and Financial Data should be read in connection with our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023. Statements made in this presentation may be forward-looking statements within the
Slide 3: Overview: The Quarter in Review
CORPORATE PRESENTATION, JUNE 6, 2023 | 3 Overview | Portfolio | ESG | Appendix OVERVIEW RiverTrace, West New York, NJ Overview THE QUARTER IN REVIEW
Slide 4: Significant Progress in Last Two Years
| 4 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Significant Progress in Last Two Years S I M P L I F I E D B U S I N E S S . S T R E N G T H E N E D B A L A N C E S H E E T. D E V E LO P E D L E A D I N G O P E R AT I O N A L P L AT F O R M . OVERVIEW OVER $2 BILLION O
Slide 5: Rapid Transition towards a Pure-Play Multifamily REIT
| 5 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Rapid Transition towards a Pure-Play Multifamily REIT 1. Pro forma closing of Harborside 1, 2 and 3 and stabilized NOI from Haus25 (post burn-off of concessions). Refer to the company’s public disclosures for NOI reconcil
Slide 6: Continued Outperformance
| 6 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Continued Outperformance OVERVIEW Notes: Peers included are AvalonBay Communities, AIR Communities, Camden Property Trust, Essex Property Trust, Equity Residential, MAA, UDR and Elme Communities. Peer information is based
Slide 7: Focus on Operational Excellence
| 7 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Focus on Operational Excellence OVERVIEW Number of Properties 24 295 75 172 251 301 292 181 27 Number of Units 7,681 85,909 22,696 60,652 62,188 79,351 99,407 57,996 8,868 Same Store NOI Growth YoY 15.8% 10.7% 12.7% 8.1%
Slide 8: Debt Overview
| 8 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Debt Overview FINANCING AND LIQUIDITY OVERVIEW • Current debt comprises primarily senior secured, fixed-rate mortgages on the multifamily portfolio. • 97% of the Company’s total pro forma debt portfolio (consolidated and
Slide 9: Components of Net Asset Value
| 9 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 OVERVIEW Components of Net Asset Value REAL ESTATE PORTFOLIO TOTAL AT SHARE Operating Multifamily NOI New Jersey Waterfront $120,400 $100,104 Massachusetts 23,660 23,660 Other 30,248 22,016 Haus25 (Stabilized NOI)(1) 30,4
Slide 10: Portfolio: Where Progress Comes to Life
CORPORATE PRESENTATION, JUNE 6, 2023 | 10 Overview | Portfolio | ESG | Appendix The Emery, Malden, MA PORTFOLIO Portfolio WHERE PROGRESS COMES TO LIFE
Slide 11: Best-In-Class, Northeast Multifamily REIT
| 11 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Best-In-Class, Northeast Multifamily REIT ASSETS AT A GLANCE MORRIS COUNTY • Signature Place • The Metropolitan at 40 Park • The Metropolitan Lofts BERGEN COUNTY • The James HARRISON • RiverPark at Harrison SHORT HILLS •
Slide 12: Class-A Portfolio
| 12 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Class-A Portfolio Properties boast lounges with picturesque views, advanced fitness centers, dog parks and grooming areas, rooftop swimming pools and rec areas, as well as ESG-driven features like EV charging stations, g
Slide 13: Technology-Focused Approach
| 13 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Our integrated suite of front office technology provides multifamily owners and operators the levers they need to improve efficiency, maximize NOI and effortlessly guide tenants from lead to lease. MyVeris App The MyVeri
Slide 14: An Excellent Reputation
| 14 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 An Excellent Reputation WHAT PEOPLE SAY ABOUT US * ORA™ is a trademark of J Turner Research. They provide an aggregate of a property’s ratings across various review sites—such as Facebook, Google and Apartment Ratings. V
Slide 15: Commitment to ESG
CORPORATE PRESENTATION, JUNE 6, 2023 | 15 Overview | Portfolio | ESG | Appendix RiverHouse 9, Weehawken, NJ PORTFOLIO Commitment to ESG P R O P E RT I E S , P E O P L E , P L A N E T. ESG
Slide 16: Committed to ESG Initiatives: Environmental
| 16 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Committed to ESG Initiatives ENVIRONMENTAL The LEED® certification trademark is owned by the U.S. Green Building Council and is used with permission. Green Certified 59% of wholly owned multifamily units Green Certified
Slide 17: Committed to ESG Initiatives: Social & Governance
| 17 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 Committed to ESG Initiatives SOCIAL & GOVERNANCE Bennett Labrador at Alveole, urban beekeepers Great Place To Work® Certified We engaged an independent party to conduct our annual survey resulting in this certification W
Slide 18: ESG as Amenities
| 18 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 ESG as Amenities AHEAD OF THE CURVE Today’s apartment resident is more sustainably-conscious than ever—especially in our core markets. They don’t want eco-friendly amenities and living spaces, they expect it. At Veris Re
Slide 19: ESG Opportunities
| 19 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, JUNE 6, 2023 ESG ESG Opportunities LED LIGHTING We transitioned common area and garage lighting to motion-sensor LED at 5 properties. Rebate opportunities covered 83% of our expenses, reducing payback period to only a few months. Ene
Slide 20: Appendix: Additional Content & Definitions
CORPORATE PRESENTATION, JUNE 6, 2023 | 20 Overview | Portfolio | ESG | Appendix Capstone, West New York, NJ APPENDIX ADDITIONAL CONTENT & DEFINITIONS Appendix
Slide 21: | Overview | Portfolio | ESG | Appendix Multifamily Office / Corp Total Multifamily
CORPORATE PRESENTATION, JUNE 6, 2023 | 21 Overview | Portfolio | ESG | Appendix Multifamily Office / Corp Total Multifamily Office / Corp Total NET INCOME (LOSS) $(11,015) $(5,215) $(16,230) $(14,791) $55,686 $40,894 DEDUCT: Real estate services income (911) — (911) (888) — (888) Interest and other
Slide 22: Definitions
CORPORATE PRESENTATION, JUNE 6, 2023 | 22 Overview | Portfolio | ESG | Appendix Definitions Net Blended Rental Growth Rate combines new lease and renewal lease growth rates. New lease growth rate refers to the difference in rent a new occupant of a unit is paying compared to the rent the unit’s prev
Slide 23: Thank You
THIS PRESENTATION HAS BEEN FORMATTED FOR SCREENS. PLEASE CONSIDER THE ENVIRONMENT BEFORE PRINTING. Thank You
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