Overview
- Affinius Capital and Vista Hill Partners will acquire Veris Residential for $19.00 per share in cash, valuing the company at $3.4 billion and representing a 27.5% premium to its 30-day average price to Feb. 4.
- Veris’ board unanimously approved the merger, which is slated to close in the second quarter of 2026 pending shareholder and customary approvals, and the stock rose about 12% to $18.82 on the announcement.
- The buyer group’s financing includes a $2.08 billion senior secured bridge loan facility.
- Veris completed a multi-year exit from offices to become a pure-play multifamily owner with roughly 6,500–6,581 units across 17 properties and about 94% occupancy in the Northeast.
- The sale followed pressure from Erez Asset Management, whose letter estimated a $22–$25 per-share value, and the consortium includes Vista Hill co-led by Jonathan Kushner as part of a wider wave of REIT take-privates.