NEW
YORK, Aug. 18, 2023 /PRNewswire/ -- Kushner
(together with its affiliates, "Kushner"), a seasoned real estate
owner and operator and one of the largest shareholders of Veris
Residential (NYSE: VRE) ("Veris" or the "Company"), today issued
the following statement.
"While we have openly expressed concerns in the past regarding
certain aspects of Veris's operations, governance and capital
structure, we feel that, in keeping with our open communication
with the Veris and its shareholders, it is important to recognize
tangible progress when we see it. We believe that in an ongoing
complex macro environment Veris's board and management have gone a
long way to address many of the concerns that we, as a major
shareholder of the Company, have raised in the past. The Company's
focus on multifamily residential properties in its core markets,
disposal of non-core assets such as the Harborside properties,
simplification of its balance sheet, and reinstatement of
distributions to shareholders demonstrates to us that Veris is on
the right track for the benefit of all stakeholders. We are
gratified that our involvement at Veris has led to greater
boardroom accountability and look forward to continuing to monitor
our investment and the Company's progress."
About Kushner
Founded in New Jersey in 1985,
Kushner is a diversified real estate organization responsible for
the ownership, management, development, and redevelopment of
properties through the country. Kushner currently owns and operates
over 21,000 units across the country, with a strong presence in
New Jersey, and has a multifamily
development pipeline of over 9,300 units.
For all media inquiries, please reach out to
mediainquiries@kushner.com
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SOURCE Kushner