Affinius Capital, in a deal it led with a group of investors, has agreed to acquire multifamily REIT Veris Residential, Inc. for roughly $3.4 billion.
The transaction values Veris at $19 per share, representing a 23.2 percent premium to the company's stock close on February 4.
Approved by Veris' Board of Directors, the deal is anticipated to close in the second quarter, subject to customary conditions and shareholder approval. As a result, the Jersey City, New Jersey-based firm would go private.
The deal will be supported in part by a $2.08 billion senior secured bridge loan and other equity investments and debt.
Veris' financial advisors are J.P. Morgan and Morgan Stanley & Co. LLC, whereas Gotshal & Manges LLP, Weil and Seyfarth Shaw LLP are serving as the financial advisors.
"Over the past five years, we have undertaken meaningful steps to pivot away from office, simplifying and focusing the business, strengthening our balance sheet and enhancing our operational platform," Mahbod Nia, CEO of Veris, said in a statement.
"Today's announcement marks the culmination of our strategic transformation into a top-performing pure-play multifamily REIT with Core, Class A properties concentrated in premier U.S. residential markets and our stated objective of realizing intrinsic value on behalf of our shareholders. I would like to thank our remarkable employees for their hard work, dedication and invaluable contributions over the past five years."
Veris focuses on developing, buying and operating Class A multifamily assets in the Northeast region. According to Veris, its properties are located in New Jersey, the New York City metro area and in Massachusetts.
In all of 2025, apartment sales reached $165.5 billion in volume across 6,955 trades, according to a RealPage analysis based on MSCI Real Capital Analytics data. Urban demand in both the Northeast and the West drove the investor interest across the board.
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