Veris Residential, Inc. (VRE) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings and welcome to the Veris Residential First Quarter 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the former presentation. If anyone should require operator assistance during a conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Karen Fielder, General Counsel. Thank you. You may begin. Good morning, everyone, and welcome to Veris Residential's first quarter 2025 earnings conference call. I would like to remind everyone that certain information discussed on this call may constitute forward-looking statements within the meaning of the federal securities law. Although we believe the estimates reflected in these statements are based on reasonable assumptions, we cannot give assurance that the anticipated results will be achieved. We refer you to the company's press release and annual and quarterly reports filed with the SEC for risk factors that impact the company. With that, I would like to hand the call over to Mahbub Nia, Veris Residential's Chief Executive Officer, who is joined by Amanda Lombard, Chief Financial Officer, and Anna Malhari, Chief Operating Officer. Mahbub? Thank you, Taryn, and good morning, everyone. We're pleased to report a positive start to 2025, during which we began to make progress on the corporate plan announced earlier this year while delivering another quarter of strong operational and financial results. Over the past few months, we have closed on $45 million of non-strategic asset sales and entered binding contracts for an additional $34 million of land sales, making progress toward our goal of selling $300 to $500 million of non-strategic asset...