Veris Residential stock soars, reaching a $3.4 billion sale agreement

Investing.com – Veris Residential (NYSE:VRE) stock surged 13% on Monday after the company agreed to be acquired in a $3.4 billion cash deal led by Affinius Capital in partnership with Vista Hill Partners.

This multifamily residential real estate investment trust (REIT) will be privatized at $19.00 per share, a 13% premium over Friday’s closing price of $16.77. The transaction implies an enterprise value of $3.4 billion for the company, representing a 23.2% premium over Veris’s closing price on February 4, 2026.

Under the merger agreement, shareholders will receive the acquisition consideration in cash at $19.00 per share of common stock. Holders of common units in Veris’s operating partnership will also receive $19.00 per unit in cash.

The deal was reached after the company conducted a comprehensive review of strategic alternatives with financial advisors J.P. Morgan and Morgan Stanley. During this process, the company engaged with financial sponsors, sovereign wealth funds, pension funds, and multifamily investment platforms.

The fund beneficially owned approximately 5.6% of the company’s outstanding shares through Bow Street LLC, and has agreed to vote in favor of the transaction.

The transaction has been unanimously approved by Veris’s board of directors and is expected to close in the second quarter of 2026, subject to shareholder approval and other customary closing conditions. Financing will include equity investments and debt, including a committed $2.08 billion senior secured bridge loan.

The company plans to pay a regular quarterly cash dividend in the first quarter of 2026 but has agreed to suspend dividends thereafter. Following the completion of the transaction, Veris’s common stock will no longer be listed on the New York Stock Exchange.

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