Kushner Issues Statement on Veris Residential, Inc (VRE)
Kushner (together with its affiliates, “Kushner”), a seasoned real estate owner and operator and one of the largest shareholders of Veris Residential (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.”
