- Multifamily REIT Veris Residential to be acquired for $3.4B in all-cash deal by Affinius Capital-led consortium.
- The $19 per share price represents a 27.5% premium to Veris’ 30-day average stock price.
- Veris shareholders and operating partnership unitholders will receive cash upon deal close, expected in Q2 2026.
- Acquisition reflects strong private capital interest in undervalued public real estate assets, especially multifamily.
Investor Group Buys Multifamily REIT
Affinius Capital, in partnership with Vista Hill Partners, has agreed to acquire multifamily REIT Veris Residential for $3.4B in cash. The deal will take Veris private and follows years of strategic repositioning by the Jersey City-based Class A owner-operator.
Veris will pay shareholders $19 per common share. Operating partnership unitholders will receive the same cash consideration.
Strategic Transformation and M&A Context
The pending sale caps Veris Residential’s multi-year pivot from its former office-heavy portfolio to a pure-play multifamily REIT. The company sold its remaining commercial assets in 2024 and now owns about 6,500 units across 17 Northeast properties. After investor pressure from firms like Erez Asset Management, the board unanimously backed the Affinius-led bid, which includes Vista Hill Partners and Jonathan Kushner. This deal follows mounting sale speculation earlier this year, when the company weighed options for a $450M Jersey City tower. This transaction reflects a broader trend of private capital targeting undervalued public REITs.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
Transaction Terms and Market Impact
The $19 per share offer comes at a 23.2% premium to Veris’ unaffected closing share price on February 4, 2026, and a 27.5% premium to its 30-day average, delivering immediate value to stakeholders. The deal is set to close in the second quarter of 2026, pending shareholder and regulatory approvals. Following closing, Veris Residential will delist from the NYSE and cease public reporting. The transaction uses a mix of equity and debt financing, including a $2.08B senior bridge loan. Bow Street LLC, owning 5.6% of Veris shares, has agreed to vote in favor of the acquisition.
Why It Matters
This acquisition of multifamily REIT Veris Residential underscores ongoing consolidation and heightened private equity interest in the multifamily sector. As several high-profile REIT takeovers gain momentum—driven by private capital seeking stable, income-generating assets—publicly traded multifamily REITs like Veris continue to attract buyout attention based on perceived valuation discounts and operational strength.
