Veris Residential has officially transitioned into a private entity following the successful completion of its acquisition by an investor consortium led by Affinius Capital.
The all-cash transaction, valued at $19.00 per share, represents an implied enterprise value of approximately $3.5 billion. The deal was executed in partnership with Vista Hill Partners. Following the closing of the market, shares of the Northeast-focused, Class A multifamily real estate investment trust (REIT) have officially ceased trading on the New York Stock Exchange.
The privatization marks the final chapter in the evolution of Veris Residential, which previously spent years restructuring its portfolio to focus exclusively on luxury, technology-enabled, transit-oriented multifamily apartments throughout the Northeast corridor.
The company’s vertically integrated operating platform will continue to manage its premier portfolio of luxury high-rises under its new private ownership.
Given the multi-billion-dollar scale of the transaction, a prominent roster of investment banks and law firms steered the deal through to its closing:
| Role | Representing Veris Residential (Sellside) | Representing Investor Consortium (Buyside) |
| Financial Advisors |
J.P. Morgan
Morgan Stanley & Co. LLC |
UBS Investment Bank (Lead)
Goldman Sachs & Co. LLC |
| Legal Counsel |
Weil, Gotshal & Manges LLP
Seyfarth Shaw LLP |
Skadden, Arps, Slate, Meagher & Flom LLP
Greenberg Traurig, LLP
Simpson Thacher & Bartlett LLP |
| Real Estate Advisory | — | Eastdil Secured |
Capital backing for the massive real estate acquisition was anchored by a major institutional bridge loan. Goldman Sachs & Co. LLC served as the lead arranger and underwriter for the credit facility, with UBS Securities LLC acting as co-arranger and underwriter. Legal counsel for the financing underwriters was provided by Gibson, Dunn & Crutcher LLP.
