Veris Residential to be Acquired by Affinius Capital and Vista Hill Partners in a $3.4 Billion Deal

Veris Residential, Inc. (VRE) entered a merger agreement on February 23, 2026, to be acquired by an investor consortium led by Affinius Capital in partnership with Vista Hill Partners, in a deal valued at $3.4 billion.

Deal Structure:

Veris shareholders will receive $19 per share in cash for each share of Veris common stock they own, representing a premium of 13.30% from the stock’s last close.

The holders of common units in Veris’ operating partnership will also receive $19 per share in cash for each common unit they own.

Company Profile:

Veris Residential is a forward-thinking REIT that owns, operates, acquires, and develops Class A multifamily properties in the Northeast, focusing on sustainable, community-conscious living experiences.

Affinius Capital is an integrated institutional real estate investment firm that provides equity, debt, development, and lending solutions across North America and Europe to create value and generate income for its clients, managing roughly $61 billion in assets under management.

Vista Hill Partners is a real estate investment and development firm that acquires, enhances, and manages distinctive property portfolios in clustered markets, using extensive experience in property acquisition, repositioning, and development across the Northeastern U.S., Texas, and Europe.

Deal Details and Timeline:

The deal is expected to close in the second quarter of 2026.

The transaction will be funded through a mix of equity and debt, including a committed $2.08 billion senior secured bridge loan.

The company expects to pay its regular quarterly dividend for the first quarter of 2026, but will suspend dividend payments after that.

Bow Street, which manages funds owning about 5.6% of the company’s outstanding shares, has agreed to vote in favor of the transaction under the terms of a Support Agreement.

For Veris, J.P. Morgan and Morgan Stanley served as financial advisors, with Weil, Gotshal & Manges and Seyfarth Shaw as legal counsel. Affinius Capital and Vista Hill Partners were advised financially by UBS Investment Bank and Goldman Sachs, with legal support from Skadden, Arps, Slate, Meagher & Flom, Greenberg Traurig, and Simpson Thacher & Bartlett.

The acquisition price by Affinius Capital and Vista Hill Partners equates to 24.66 times adjusted funds from operations (AFFO) for Veris.

Deal Metrics:

For an in-depth look into this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Veris Residential, Inc. (VRE) by Affinius Capital and Vista Hill Partners

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article