Veris Residential, Inc. · NYSE:VRE
Veris Residential — Investor Presentation (September 2023)
21 slides from Veris Residential's investor presentation, Sep 7, 2023
Slide 1: Corporate Presentation
CORPORATE PRESENTATION, SEPTEMBER 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 SEPTEMBER 6, 2023
Slide 2: Forward-Looking Statements
| 2 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 This Operating and Financial Data should be read in connection with our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. Statements made in this presentation may be forward-looking statements within
Slide 3: Overview: The Quarter in Review
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 3 Overview | Portfolio | ESG | Appendix OVERVIEW Haus25, Jersey City, NJ Overview THE QUARTER IN REVIEW
Slide 4: Cements Position as Pure-Play Multifamily REIT
| 4 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Cements Position as Pure-Play Multifamily REIT • 99% of NOI from multifamily (vs 39% in Q1 2021) • Youngest multifamily portfolio commanding highest rents and lowest capex per unit among peers • Reinstated a quarterl
Slide 5: Rapid Transformation to a Prime Multifamily REIT
| 5 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Rapid Transformation to a Prime Multifamily REIT OVERVIEW 1. Pro forma closing of Harborside 1, 2 and 3 and stabilized NOI from Haus25 (post burn-off of concessions). Refer to the appendix to this presentation for NO
Slide 6: Class A Portfolio Demanding Highest Rents
| 6 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Class A Portfolio Demanding Highest Rents OVERVIEW Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 Peers include AvalonBay Communities, AIR Communities, Camden Property Trust, Essex Property Trust, Equity Residential, M
Slide 7: Continued Outperformance
| 7 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Continued Outperformance OVERVIEW Note: Peers included are AvalonBay Communities, AIR Communities, Camden Property Trust, Essex Property Trust, Equity Residential, MAA, UDR and Elme Communities. Peer information is b
Slide 8: Focus on Operational Excellence
| 8 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Focus on Operational Excellence OVERVIEW Number of Properties 23 294 73 172 252 304 292 181 27 Number of Units 7,681 88,659 22,455 60,514 62,261 80,212 99,407 57,997 8,873 Same Store NOI Growth YoY 21.8% 7.9% 11.2% 7
Slide 9: Debt Overview
| 9 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Debt Overview FINANCING AND LIQUIDITY OVERVIEW • As of August 30, 99% of the Company`s total debt portfolio (consolidated and unconsolidated) is hedged or fixed. The Company`s total debt portfolio has a weighted aver
Slide 10: Components of Net Asset Value
| 10 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 OVERVIEW Components of Net Asset Value REAL ESTATE PORTFOLIO TOTAL AT SHARE New Jersey Waterfront $137,660 $114,454 Normalized impact of successful tax appeals (8,716) (8,716) Massachusetts 24,144 24,144 Other 32,97
Slide 11: Portfolio: Where Progress Comes to Life
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 11 Overview | Portfolio | ESG | Appendix RiverHouse 11, Weehawken, NJ PORTFOLIO Portfolio WHERE PROGRESS COMES TO LIFE
Slide 12: Best-In-Class, Northeast Multifamily REIT
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 12 Overview | Portfolio | ESG | Appendix 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 HI
Slide 13: Class-A Portfolio
| 13 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 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 statio
Slide 14: Technology-Focused Approach
| 14 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 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 M
Slide 15: An Excellent Reputation
| 15 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 The Upton, Short Hills, NJ PORTFOLIO An Excellent Reputation Average Property Google Review We have been at Signature since the opening and I could not have been happier. The Management and maintenance staff have be
Slide 16: Commitment to ESG
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 16 Overview | Portfolio | ESG | Appendix RiverHouse 11, 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 17: Environmental Social Governance
| 17 Overview | Portfolio | ESG | Appendix CORPORATE PRESENTATION, SEPTEMBER 6, 2023 Environmental Social Governance ESG as an Amenity ESG Leader ESG Initiatives + + + = • 54% Reduction in Scope 1 & 2 Emissions (compared to 2019) • More than 90% of Operational Carbon Footprint Disclosed (including S
Slide 18: Appendix: Additional Content & Definitions
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 18 Overview | Portfolio | ESG | Appendix Portside, East Boston, MA APPENDIX ADDITIONAL CONTENT & DEFINITIONS Appendix
Slide 19: Overview | Portfolio | ESG | Appendix Multifamily Office / Corp Disc. Ops Total
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 19 Overview | Portfolio | ESG | Appendix Multifamily Office / Corp Disc. Ops Total Multifamily Office / Corp Total Net Income (loss) $(12,805) $(17,330) $— $(30,135) $(11,015) $(5,215) $(16,230) Deduct: Real estate services income (644) 1 — (643) (911) — (
Slide 20: Definitions
CORPORATE PRESENTATION, SEPTEMBER 6, 2023 | 20 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
Slide 21: Thank You
THIS PRESENTATION HAS BEEN FORMATTED FOR SCREENS. PLEASE CONSIDER THE ENVIRONMENT BEFORE PRINTING. Thank You
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