601 W Companies LLC completed the acquisition of Three Class A office buildings in Jersey City, N.J. from Veris Residential, Inc..
April 03, 2023
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601 W Companies LLCentered into a binding agreement to acquire Three Class A office buildings in Jersey City, N.J. from Veris Residential, Inc. (NYSE:VRE) for $420 million on September 22, 2022. The purchase value is subject to closing adjustments for several ongoing construction projects. The agreement is subject to closing conditions and other terms and conditions customary for real estate transactions. Residential anticipates closing the transaction in the first quarter of 2023. Veris Residential expects to receive approximately $350 million of net proceeds from the sales of Harborside 1/2/3. Cushman & Wakefield and CBRE co-arranged the Harborside 1/2/3 transaction. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as financial advisors to Veris Residential.
601 W Companies LLC completed the acquisition of Three Class A office buildings in Jersey City, N.J. from Veris Residential, Inc. (NYSE:VRE) on April 4, 2023.
Veris Residential, Inc. is a fully integrated, self-administered, and self-managed real estate investment trust (REIT). The Company owns, operates, and develops multifamily rental properties located primarily in the Northeast, as well as a portfolio of non-strategic land and commercial assets. The Company operates through two segments: multifamily real estate and services and commercial and other real estate. The Company provides property management, leasing, acquisition, development, construction and tenant-related services for its multifamily real estate portfolio and commercial and other real estate located in the United States. The Company owns and has interests in 24 multifamily rental properties as well as non-strategic assets comprised of one office property, four parking/retail properties, and developable land. It seeks to own a portfolio comprised primarily of Class A multifamily properties with premium amenities and offerings that reflect its commitment to sustainability.
VERIS RESIDENTIAL, INC. 
