Veris Residential

What Veris Residential does

Veris Residential is a Northeast-focused pure-play multifamily REIT that develops, owns, and operates Class A luxury apartment communities in supply-constrained markets across New Jersey (Jersey City, Port Imperial/West New York, Weehawken) and Massachusetts (East Boston, Malden). Originally founded in 1994 as Mack-Cali Realty Corp., the company rebranded to Veris Residential in December 2021 as part of a multi-year strategic transformation that culminated in February 2024 with the sale of Harborside 5 and the company's exit from the legacy office portfolio. As of May 27, 2026, Veris was taken private in a $3.5 billion all-cash transaction by an Affinius Capital and Vista Hill Partners consortium at $19.00 per share, removing it from the NYSE where it had traded under the ticker VRE; the former 6,000+ unit portfolio is now managed by RHO Residential. The portfolio comprises 11 named properties — Sable, Haus25, The BLVD Collection, Liberty Towers, Soho Lofts, The Capstone at Port Imperial, RiverTrace at Port Imperial, RiverHouse 9 at Port Imperial, RiverHouse 11 at Port Imperial, Portside at East Pier, and The Emery at Overlook Ridge — with disclosed monthly rents ranging from approximately $2,325 to $13,105 per unit.

The company's technology layer is built around the proprietary myVeris mobile application (developed in partnership with Venn and available on iOS and Android), which integrates Bilt Rewards rent payments, amenity reservations, maintenance requests, neighbor messaging, and curated partner promotions. Smart home features are integrated into units via ButterflyMX video intercoms and Ecobee smart thermostats, with on-site package management through Amazon Lockers and Package Concierge, and on-demand home essentials via TULU. Differentiated amenities include on-site hydroponic farms (in partnership with Green Food Solutions), EV charging infrastructure, VR/AR property tours, and a portfolio-wide resident program called The Veris Promise that offers a 30-day move-in guarantee, 24-hour maintenance guarantee, 75-point move-in inspection, smoke-free buildings, complimentary bike storage, credit builder program, and translation services in 150+ languages. The company holds portfolio-wide LEED, WELL Health-Safety, and WELL Equity certifications (the first REIT to achieve the latter portfolio-wide), ENERGY STAR certification at Portside, DOE Green Lease Leader status, and has been named GRESB Regional Listed Sector Leader with a 5-star rating, S&P Global 2025 Sustainability Yearbook member, and Nareit Leader in the Light (Residential).

The business model is direct-to-consumer residential leasing: properties are leased directly to individual renters through on-site leasing offices and an online application portal, with revenue generated through recurring monthly rental payments. Marketing channels include direct property websites, content marketing around sustainability and lifestyle, ESG/sustainability communications, and the Bilt Rewards partnership for resident acquisition and retention. The company serves primarily affluent individuals and families seeking premium Class A multifamily living in the Northeast corridor, with property-level pricing and availability managed dynamically. Corporate operations are headquartered in Jersey City, NJ, with a secondary administrative office in Roseland, NJ. Leadership includes CEO Mahbod Nia, COO Anna Malhari, General Counsel Taryn Fielder, SVP Marketing & Communications Nicole Jones, and SVP Head of Sustainability and ESG Karen Cusmano. The go-forward trajectory will be set by the Affinius Capital/Vista Hill Partners ownership structure rather than as a standalone public company.

Name

Veris Residential

Legal name

Veris Residential, Inc.

Website

https://verisresidential.com

Company type

Private

Founded year

2021

Operating status

Acquired

Headcount range

501–1,000 employees

Short description

Veris Residential is a Northeast-focused pure-play multifamily REIT that owns and operates 11 Class A luxury apartment communities across New Jersey and Massachusetts, serving high-income renters. Taken private in May 2026 by an Affinius Capital and Vista Hill Partners consortium for $3.5 billion.

Ownership category

akta.pro rank

Product category

Multifamily Residential Real Estate

NAICS

Lessors of Real Estate (5311), Rental and Leasing Services (532)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Urban serviced apartments (city-centre) (THAMACAA)

akta.pro secondary industries

Luxury serviced apartments (premium) (THAMACAE), Furnished Monthly Apartments (Urban/Residential) (THAMAFAB)

Keywords

• Luxury multifamily rentals
• Class A apartments
• Multifamily REIT
• Residential property management
• Apartment communities

Headquarters

HQ city

Jersey City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Residential Rental Income: Primary revenue from leasing Class A multifamily residential units to individual renters. Revenue is recurring in nature, generated through monthly rental payments from tenants across the portfolio of properties in NJ, NY, and MA markets.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Veris Residential owns, develops, and manages a portfolio of Class A luxury multifamily apartment communities concentrated in the Northeast corridor, including New Jersey (Jersey City, Port Imperial/West New York, Weehawken) and Massachusetts (East Boston, Malden). The company leases furnished apartment units directly to individual renters on monthly terms, enhanced by portfolio-wide programs including The Veris Promise (move-in and service guarantees) and the myVeris resident mobile app.

Product overview

Veris Residential is a Northeast-focused pure-play multifamily REIT that owns and operates a portfolio of Class A luxury apartment communities across New Jersey (Jersey City, Port Imperial/West New York, Weehawken), and Massachusetts (East Boston, Malden). The portfolio comprises 11 named property communities: Sable, Haus25, The BLVD Collection, Liberty Towers, Soho Lofts, The Capstone at Port Imperial, RiverTrace at Port Imperial, RiverHouse 9 at Port Imperial, RiverHouse 11 at Port Imperial, Portside at East Pier, and The Emery at Overlook Ridge. These properties are offered as a unified luxury residential platform augmented by two signature program modules — the Veris Promise (a portfolio-wide resident experience program delivering move-in guarantees, wellness features, Bilt Rewards integration, and inclusive pet policies) and Embrace (the company's sustainability and DEI program covering LEED certifications, WELL ratings, and ESG commitments). The resident-facing technology layer is anchored by the myVeris mobile app, built in partnership with Venn, which integrates rent payments (Bilt Rewards), amenity reservations, maintenance requests, and community engagement tools. The company was acquired by an Affinius Capital and Vista Hill Partners consortium for $3.5 billion in May 2026 and delisted from the NYSE.

Differentiator

Problem solved

Functional benefit

Products and services

• Sable Luxury multifamily apartment community in Jersey City, NJ, featuring sustainable bamboo flooring, oversized windows with NYC skyline views, on-site Canard Café, heated rooftop pool, Peloton-equipped fitness center, and dog park. Units priced from $3,135 to $6,070 for studio through 2-bedroom layouts.
• Haus25 Luxury multifamily apartment community in Jersey City, NJ, featuring NYC and Statue of Liberty views, 31,000+ sq ft of outdoor amenities, hydroponic farm, bowling alley, karaoke lounge, chef's kitchen, maker space, on-site pre-K/kindergarten school, and 24-hour concierge. Units priced from $3,620 to $13,105 for studio through 3-bedroom layouts.
• The BLVD Collection Luxury multifamily apartment collection in Jersey City, NJ, offering renovated skylounge, hydroponic farm, and yoga and spin studios at BLVD 401 and BLVD 475 locations along Washington Boulevard. Units priced from $3,295 to $8,860 for studio through 3-bedroom layouts.
• Liberty Towers Luxury multifamily apartment community in Jersey City, NJ, at 33 Hudson Street. Veris invested $30 million in renovations including redesigned lounges, upgraded fitness center, and enhanced community spaces. Units priced from $3,275 to $6,000 for studio through 2-bedroom layouts.
• Soho Lofts Luxury multifamily apartment community in Jersey City, NJ, featuring indoor hydroponic farm room that brings farm-to-table living to residents, sustainable lifestyle amenities, and modern finishes. Units priced from $3,395 to $6,035 for studio through 3-bedroom layouts.
• The Capstone at Port Imperial Luxury multifamily apartment community in West New York, NJ at Port Imperial. Features 24-hour concierge, outdoor pool, and Manhattan views along the Hudson River waterfront. Units priced from $2,634 to $5,032 for studio through 2-bedroom layouts.
• RiverTrace at Port Imperial Luxury multifamily apartment community in West New York, NJ at Port Imperial. Features LEED Certification, WELL Health-Safety and Equity Ratings, hydroponic station, infrared sauna, shuttle to Port Imperial ferry terminal, and Manhattan views. Units priced from $3,077 to $6,479 for studio through 3-bedroom layouts.
• RiverHouse 9 at Port Imperial Luxury multifamily apartment community in Weehawken, NJ at Port Imperial. Features resort-style pool with spa features, sky deck, fitness center, spin studio, golf simulator, and concierge services. Units priced from $2,995 to $6,145 for studio through 2-bedroom layouts.
• RiverHouse 11 at Port Imperial Luxury multifamily apartment community in Weehawken, NJ at Port Imperial. LEED Certified property featuring rock climbing wall, golf simulator, private theater, music room, resort-style pool, Bocce court, and 24-hour concierge with EV charging stations. Units priced from $3,110 to $7,445 for studio through 3-bedroom layouts.
• Portside at East Pier Luxury waterfront multifamily apartment community in East Boston, MA, including Meridian and Beacon Collections. Features indoor pool with Boston Harbor views, fitness center, spin studio, kids playroom, rooftop sundeck, pet grooming spa, and ENERGY STAR certification. Units priced from $2,995 to $4,865 for studio through 2-bedroom layouts.
• The Emery at Overlook Ridge Luxury multifamily apartment community in Malden, MA. Features heated outdoor pool, golf simulator, fitness center, and pet-friendly amenities. Units priced from $2,325 to $3,625 for studio through 2-bedroom layouts.

Quantifiable outcome

• LEED certified properties across portfolio demonstrating sustainability leadership
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Bilt RewardscoreGTM or Marketing PartnerResident loyalty program partnership providing points and rewards for residents across the Veris Residential portfolio. Bilt Rewards is a leading loyalty platform for renters, enabling residents to earn rewards on rent payments and access exclusive benefits.
• VenncoreTechnology or IntegrationTechnology partnership providing resident app and community platform for residents to connect, access services, and engage with their living community. Integrates with myVeris platform for enhanced resident experience.
• Green Food SolutionsminorStrategic or Co-development PartnerPartnership for hydroponic farming installations at select properties, providing sustainable on-site food production capabilities and farm-to-table experience for residents.
• EcologiminorStrategic or Co-development PartnerEnvironmental partnership focused on sustainability initiatives and carbon offset programs. Supports Veris ESG goals and environmental commitments including EV100 participation.

Scale indicators4 records

Recent moves14 records

Expansion highlights4 records

Direct peers

• UDR, Inc. UDR is a multifamily REIT operating Class A apartment communities across the U.S. with significant Northeast and mid-Atlantic exposure. Comparable to Veris in apartment REIT structure, urban Class A focus, and recurring rental revenue model.
• Equity Residential: Equity Residential is a major multifamily REIT focused on Class A urban and high-density suburban apartment properties in coastal gateway markets. Overlap with Veris in luxury urban product positioning and high-income renter target, though EQR's footprint skews more to Manhattan, Boston, and other major metros.
• Camden Property Trust: Camden Property Trust is a multifamily REIT focused on Class A apartment communities, primarily in the Sun Belt. Directly comparable to Veris in apartment REIT structure, Class A positioning, and recurring rental revenue, though geographically concentrated in the Sun Belt rather than the Northeast.
• Essex Property Trust: Essex Property Trust is a multifamily REIT focused exclusively on Class A apartments on the U.S. West Coast. Directly comparable to Veris in pure-play multifamily REIT structure, Class A luxury positioning, and supply-constrained coastal market focus, though geographic footprint differs.
• AvalonBay Communities: AvalonBay is the largest publicly traded multifamily REIT focused on Class A apartment communities in high-barrier coastal U.S. markets including the Northeast. Directly comparable to Veris in product quality (Class A luxury), geography (NJ/NY corridor), and customer base (high-income urban professionals).
• Independence Realty Trust: Independence Realty Trust is a multifamily REIT focused on Class A apartment communities in non-gateway U.S. markets. Comparable to Veris in apartment REIT structure, though IRT's focus on Sun Belt B/B+ product differs from Veris's luxury Class A Northeast positioning.
• NexPoint Residential Trust: NexPoint Residential Trust is a multifamily REIT focused on Class A and value-add apartment properties primarily in the Sun Belt. Comparable in pure-play multifamily REIT structure and apartment operations, though smaller in scale and geographically distinct.
• BRT Apartments: BRT Apartments is a multifamily REIT focused on Class A apartment investments across the Sun Belt. Comparable to Veris in multifamily REIT structure and apartment ownership, though smaller scale and different geographic focus.
• Mid-America Apartment Communities: MAA is the largest publicly traded multifamily REIT focused on Class A apartment communities in the Southeast and Sun Belt. Comparable to Veris in multifamily REIT structure and Class A apartment operations, though with a different geographic footprint.

Broad incumbents

• Greystar Real Estate Partners: Greystar is the largest multifamily property management and investment firm globally, managing over 800,000 units. Comparable as the dominant incumbent in multifamily operations, including in Northeast markets where Veris operates. RHO Residential, which absorbed Veris staff post-acquisition, is a Greystar-affiliated entity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/VerisResidential
• LinkedInlinkedin.com/company/verisresidential
• Instagraminstagram.com/verisresidential
• Xx.com/mackcaliprop

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veris Residential