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Jun 30, 2022
Veris Residentia Q2 2022 Earnings Report
Veris Residential's financial position and operational performance were detailed for Q2 2022.
Key Takeaways
Veris Residential reported a strong second quarter, with same-store NOI growth of 28.0% and a blended net rental growth rate of 21%. The company completed the acquisition of The James and has binding contracts for the sale of the Hyatt Hotel and 23 Main Street.
The operating multifamily portfolio was 97.1% occupied as of June 30, 2022.
Same Store NOI for the operating multifamily portfolio increased year-over-year by 28.0%.
The multifamily blended net rental growth rate was 21%.
Acquisition of The James in Park Ridge, NJ was completed after quarter end.
Revenue by Geographic Location
Forward Guidance
The company did not provide specific forward guidance in this report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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