Veris Residential, Inc. · NYSE:VRE
Veris Residential — Investor Presentation (March 2022)
18 slides from Veris Residential's investor presentation, Mar 7, 2022
Slide 1: Corporate Presentation March 2022
Corporate Presentation 1 MARCH 2022
Slide 2: Forward-Looking Statements
This Operating and Financial Data should be read in connection with our Annual Report on Form 10-K for the year ended December 31, 2021. Statements made in this presentation may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such f
Slide 3: Veris Residential as a Pure-Play Multifamily REIT
Veris Residential as a Pure-Play Multifamily REIT Corporate Presentation 3 In Construction Multifamily Units 750 Operating Multifamily Units 5,825 6,691 Office Properties 24 6 2020 2021 2021 2020 2021(2) Waterfront Office 37% Multifamily 38% Suburban Office 25% Waterfront Office 42% Multifamily 56%
Slide 4: Significant Progress in Stated Initiatives, Unlocking Value for Our Shareholders
STRATEGIC DISPOSALS $1 billion Gross proceeds from suburban office sales BOND REPAYMENT $575 million Repayment of corporate bonds MULTIFAMILY LEASING 96.4% Same Store occupancy as of December 31, 2021 +2.8% above pre-pandemic levels Strengthened Balance Sheet Aligned ESG efforts with globally recogn
Slide 5: Recovery in Multifamily Leasing
Recovery in Multifamily Leasing Corporate Presentation 5 11.6% Q4 2021 Renewal Leases Growth Rate 13.9% Q4 2021 New Leases Growth Rate SAME STORE MULTIFAMILY OCCUPANCY 75% 80% 85% 90% 95% 100% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2021 7.0% Same Store Q4 2021 quarter-over-quarter NOI
Slide 6: Maximizing Value from Class A Multifamily Platform
Maximizing Value from Class A Multifamily Platform Corporate Presentation 6
Slide 7: Establishing Veris Residential as a Best-In-Class Pure-Play Multifamily REIT
Establishing Veris Residential as a Best-In-Class Pure-Play Multifamily REIT Corporate Presentation 7 (1) Managed properties. MASSACHUSETTS • 145 Front at City Square • Portside at East Pier • The Emery at Overlook Ridge MORRIS COUNTY • Signature Place Morris Plains • The Metropolitan at 40 Park • T
Slide 8: HAUS 25 | Under Development
HAUS 25 | Under Development Haus 25, a 750-unit building located in Jersey City, is the only property currently under construction and expected to commence initial occupancy in Q2 2022. Corporate Presentation 8 Haus 25 will offer hospitality-inspired services, resort-style amenities, stunning reside
Slide 9: Multifamily properties feature luxury amenities and curated resident programming
Multifamily properties feature luxury amenities and seasonally curated resident events and programming • Class A multifamily platform • 6,691 units • Locations across New Jersey, Boston Metropolitan area, suburban New York and Washington DC • Resort-style amenities and energized social spaces includ
Slide 10: Pursuit of Operational Excellence
Note: Veris as of December 31, 2021. Peer comparable data as of September 30, 2021. Sources include Green Street Advisors and company reporting. 1. Based on 5,825 units, which exclude 866 units of 3 lease-up properties stabilized during the quarter. 2. LEED Silver and above. Number of Properties 21
Slide 11: Revitalizing Waterfront Leasing
Revitalizing Waterfront Leasing Corporate Presentation 11
Slide 12: Harborside Transformed to a Complete Campus Offering
Harborside Transformed to a Complete Campus Offering • Capitalizes on growing demand for business districts outside of Manhattan by offering high-quality, office space attractive to a diverse tenant base • New 15-year 130,400 square foot lease with Collectors Universe was executed in January 2022 •
Slide 13: Commitment to ESG Initiatives
Corporate Presentation 13 Commitment to ESG Initiatives
Slide 14: Focus on Sustainability and Strong Corporate Governance
Focus on Sustainability and Strong Corporate Governance • Direct access to mode of transportation • Parking/ride share stops • Bike share programs • Personal mobility centers • EV charging points OUTSTANDING CONNECTIVITY ENCOURAGES LOW CARBON COMMUTE • Cogeneration systems • Energy technology servic
Slide 15: Appendix
Appendix Corporate Presentation 15
Slide 16: Information About Net Operating Income (NOI)
NOI represents total revenues less total operating expenses, as reconciled to net income above. The Company considers NOI to be a meaningful non-GAAP financial measure for making decisions and assessing unlevered performance of its property types and markets, as it relates to total return on assets,
Slide 17: Peer Research and Definitions
Peer Research 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 previous occupant was paying on a net effective basis. Renewal lease growth rate refers to the increase or decrease in monthly rent in a renewed lease compared to
Slide 18: Thank you
VerisResidential.com Thank you.
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