The portfolio spans 158,000 square feet across buildings and 75 acres of rentable area.

The building has been facing trouble since 2024, when a major tenant left.

It involves two unsecured capital transactions, worth $275 million and $400 million, respectively.

Veris Residential would be taken private, subject to customary closing conditions.

Meanwhile, some other fundamentals like rents softened.

Demand returned to positive territory.

The new loan adds $230 million of debt.

Also, the company announced a new revolving credit facility worth $215 million for 28 properties.