The proceeds will bring the net debt-to-EBITDA ratio down to around 9.0x

The transaction is expected to add approximately $0.04 per share to the Core FFO

JERSEY CITY, N.J., Dec. 9, 2025 — Veris Residential, Inc. (NYSE: VRE), (the “Company”), an innovative, Northeast – focused, Class A multifamily real estate investment trust (REIT), announced today that it has sold its 4.2 – acre Harborside 8/9 land parcel in Jersey City, New Jersey, for $75 million.

The estimated net proceeds are about $69 million. The Company plans to use these proceeds to further reduce its debt, improving the Net Debt – to – EBITDA (Normalized) ratio to approximately 9.0x from 10.0x in the third quarter and 11.7x at the end of 2024. The transaction is also projected to add around $0.04 per share to the Core FFO on a run – rate basis. After this sale, the Company’s remaining land bank is valued at roughly $35 million, with the parcels mainly located in Massachusetts.

Mahbod Nia, the Chief Executive Officer, stated, “The sale of the Harborside 8/9 land parcel marks a significant step in the ongoing implementation of our strategic plan to monetize non – strategic assets and further strengthen our balance sheet. The proceeds from this deal will be used to pay off debt, resulting in an earnings accretion of $0.04 per share on a run – rate basis and further reducing our company’s leverage to 9.0x, a 53% decrease in the Net Debt – to – EBITDA (Normalized) ratio since 2021.

“As of now, we have achieved non – strategic asset sales of $542 million this year, surpassing our initial target of $300 to $500 million in asset sales. We’ve also reached our year – end 2026 Net Debt – to – EBITDA (Normalized) target of 9.0x a full year ahead of schedule. As we keep executing our disposition strategy, we’ve raised our sales target to $650 million and believe we’re well – positioned to potentially reduce our leverage to below 8.0x by the end of 2026.”

Located at 3 Second Street and 242 Hudson Street, the Harborside 8/9 land parcel is currently a large surface parking lot zoned for mixed – use development. The development of a 68 – story tower with 680 residential units at Harborside 8 has been approved. The development of a 57 – story tower with 579 units, including a 15% affordable housing component, at Harborside 9 has also been approved.

Cushman & Wakefield represented the Company in the sale to Panepinto Properties.

About Veris Residential, Inc.

Veris Residential, Inc. is an innovative real estate investment trust (REIT) that mainly owns, operates, acquires, and develops top – tier Class A multifamily properties in the Northeast. Our technology – enabled, vertically integrated operating platform offers a contemporary living experience that meets residents’ preferences while having a positive impact on the communities we serve. We are led by an experienced management team and Board of Directors, supported by leading corporate governance principles, a best – in – class operational approach, and an inclusive culture based on meritocratic empowerment.

For more information on Veris Residential, Inc. and our properties available for lease, please visit .

We regard some of this information, including the documents incorporated by reference, as forward – looking statements as defined in Section 21E of the Securities Exchange Act of 1934, as amended. We intend for these forward – looking statements to be covered by the safe – harbor provisions for forward – looking statements in Section 21E of that act. These forward – looking statements relate to, among other things, our future economic performance, plans and goals for future operations, and projections of revenue and other financial items. Forward – looking statements can be recognized by the use of words like “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” “target,” “continue” or similar terms. Forward – looking statements are inherently subject to certain risks, trends, and uncertainties, many of which we can’t predict accurately and some of which we may not foresee. Although we believe the expectations reflected in these forward – looking statements are based on reasonable assumptions at the time they were made, we can’t guarantee that these expectations will be realized. Future events and actual results, both financial and otherwise, may differ significantly from the results discussed in the forward – looking statements. Readers are warned not to place excessive reliance on these forward – looking statements and are advised to consider the factors listed above along with the additional factors under the headings “Disclosure Regarding Forward – Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10 – K, as may be supplemented or amended by the Company’s Quarterly Reports on Form 10 – Q, which are incorporated herein by reference. The Company has no obligation to update or supplement forward – looking statements that become untrue due to subsequent events, new information, or other reasons, except as required by applicable law.

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212 – 257 – 4170

SOURCE Veris Residential, Inc.