Veris Residential (NYSE:VRE), the Jersey City-based real estate investment trust specializing in luxury Northeast multifamily properties, has agreed to be acquired by an investor consortium led by Affinius Capital and Vista Hill Partners.
The all-cash transaction, valued at approximately $3.4 billion including debt, will see Veris shareholders receive $19 per share, marking the conclusion of the firm's multi-year transition from a diversified office REIT into a pure-play residential operator.
The $19 offer represents a 23.2% premium over Veris’s closing price on Feb. 4, 2026, the last trading day before market speculation of a deal surfaced.
The buyout brings an end to Veris’s independent run as a public company, following its rebranding from Mack-Cali Realty in 2021.
Since that pivot, the company has aggressively divested its suburban office assets to focus on a high-end "Class A" multifamily portfolio concentrated along the New Jersey gold coast and Boston markets.
The deal received unanimous approval from the Veris Board of Directors, which had previously fended off multiple unsolicited bids from other suitors over the past two years.