Veris Residential, Inc. · NYSE:VRE
Veris Residential — Investor Presentation (March 2023)
23 slides from Veris Residential's investor presentation, Mar 6, 2023
Slide 1: Corporate Presentation March 3, 2023
CORPORATE PRESENTATION, MARCH 3, 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 MARCH 3, 2023
Slide 2: Forward-Looking Statements
| 2 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 This Operating and Financial Data should be read in connection with our Annual Report on Form 10-K for the year ended December 31, 2022. Statements made in this presentation may be forward-looking statements within the m
Slide 3: Overview: The Quarter in Review
CORPORATE PRESENTATION, MARCH 3, 2023 | 3 Overview | Portfolio | ESG | Appendix OVERVIEW Capstone, West New York, New Jersey Overview THE QUARTER IN REVIEW
Slide 4: Significant Progress in Last Two Years
| 4 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 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. E N H A N C E D O P E R AT I O N S . OVER $2 BILLION OF NON-STRATEGIC SALES(1), SIMPLIFYING TH
Slide 5: Rapid Transition towards a Pure-Play Multifamily REIT
| 5 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 Rapid Transition towards a Pure-Play Multifamily REIT 39% 45% 53% 56% 64% 68% 75% 2021 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 p
Slide 6: Continued Out-performance
| 6 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 Continued Out-performance OVERVIEW Note: Peers included are AvalonBay Communities, AIR Communities, Camden Property Trust, Essex Property Trust, Equity Residential, MAA, UDR and Elme Communities. AvalonBay Communities an
Slide 7: Focus on Operational Excellence
| 7 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 Focus on Operational Excellence OVERVIEW Number of Properties 24 294 74 172 252 308 292 181 27 Number of Units 6,931 85,753 22,000 60,652 62,411 79,597 99,407 57,386 8,868 Same Store NOI Growth YoY 20.1% 13.2% 14.0% 14.6
Slide 8: Debt Overview
| 8 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 Debt Overview FINANCING AND LIQUIDITY OVERVIEW • Current debt comprises primarily senior secured, fixed-rate mortgages on the multifamily portfolio. • 96% 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, MARCH 3, 2023 OVERVIEW Components of Net Asset Value REAL ESTATE PORTFOLIO TOTAL AT SHARE Operating Multifamily NOI Same Store NOI (Q4 annualized) $133,053 $111,632 Adjustment for Run Rate Real Estate Taxes & Insurance 8,554 7,176 Adj
Slide 10: Portfolio
CORPORATE PRESENTATION, MARCH 3, 2023 | 10 Overview | Portfolio | ESG | Appendix PORTFOLIO Portfolio WHERE PROGRESS COMES TO LIFE RiverHouse 11, Port Imperial, Weehawken, NJ
Slide 11: Best-In-Class, Northeast Multifamily REIT
| 11 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 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, MARCH 3, 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,
Slide 13: Technology-Focused Approach
| 13 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 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 MyVer
Slide 14: An Excellent Online Reputation
| 14 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 An Excellent Online 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 Ra
Slide 15: Commitment to ESG
CORPORATE PRESENTATION, MARCH 3, 2023 | 15 Overview | Portfolio | ESG | Appendix Haus25, Jersey City, New Jersey 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, MARCH 3, 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 43% of wholly owned multifamily units Green Certified
Slide 17: Committed to ESG Initiatives: Social & Governance
| 17 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 2023 Committed to ESG Initiatives SOCIAL & GOVERNANCE Nicole Jones & Susan Grosso at a Habitat for Humanity Build in NJ Great Place To Work® Certified We engaged an independent party to conduct our annual survey resulting in
Slide 18: ESG as Amenities
| 18 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 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 R
Slide 19: ESG Opportunities
| 19 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, MARCH 3, 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. En
Slide 20: Appendix: Additional Content & Definitions
CORPORATE PRESENTATION, MARCH 3, 2023 | 20 Overview | Portfolio | ESG | Appendix Portside at East Pier, East Boston, MA APPENDIX ADDITIONAL CONTENT & DEFINITIONS Appendix
Slide 21: | Overview | Portfolio | ESG | Appendix Multifamily Office / Corp Disc Ops
CORPORATE PRESENTATION, MARCH 3, 2023 | 21 Overview | Portfolio | ESG | Appendix Multifamily Office / Corp Disc Ops Total Multifamily Office / Corp Total NET INCOME (LOSS) ($19,986) ($85,916) – ($105,902) ($14,791) $55,686 $40,894 DEDUCT: Real estate services income (886) – – (886) (888) – (888) Int
Slide 22: Definitions
CORPORATE PRESENTATION, MARCH 3, 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 pre
Slide 23: Thank You
THIS PRESENTATION HAS BEEN FORMATTED FOR SCREENS. PLEASE CONSIDER THE ENVIRONMENT BEFORE PRINTING. Thank You
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