Affinius Capital JV to Acquire Veris Residential for $3.4B
The REIT would go private following the sale's closing.
A group of investors led by Affinius Capital and Vista Hill Partners will acquire Veris Residential in a $3.4 billion, all-cash transaction, after which the firm will go private. The move represents the endpoint of Veris’ yearslong effort to transform itself into a pure-play multifamily-focused REIT.
Under the terms of the deal, Veris shareholders will receive $19.00 per share, a 27.5 percent premium to the firm’s average stock price in the month leading up to Feb. 4. The company said it expected the deal to close in the second quarter of 2026, subject to shareholder approval and other conditions.
Veris previously owned a mix of office and multifamily assets. Over several years leading up to 2024, it sold all its office properties to free up more capital for multifamily investments. The company was previously known as Mack-Cali, until it rebranded to its current name in 2021.
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This deal is the latest take-private transaction to hit the industry. Earlier in February, Kennedy Wilson agreed to be taken private by a consortium of investors led by its CEO, William McMorrow, who will pay $1.65 billion for the firm.
J.P. Morgan and Morgan Stanley are serving as financial advisors to Veris, while Weil, Gotshal & Manges LLP and Seyfarth Shaw LLP are serving as legal advisors.
The state of Veris’s portfolio
As of December 2025, New Jersey-based Veris owned 6,581 units across 17 buildings, with an overall occupancy rate of 94.4 percent.
The REIT has sold off several multifamily assets in recent months. In October 2025, Veris sold Quarry Place at Tuckahoe, a 108-unit luxury community in Tuckahoe, N.Y. Hines bought the property for $63 million.
Two months earlier, Veris sold The James, a 240-unit upscale community in Park Ridge, N.J., to Berkshire Residential for $117 million. That deal was Veris’s second sale to Berkshire in two months, following a $85 million deal for Signature Place, a 197-unit community in Morris Plains, N.J.
