Affinius Capital and Vista Hill Partners to acquire Veris Residential for $3.4bn.

Affinius Capital, an integrated institutional real estate investment firm, and Vista Hill Partners, a real estate investment and development firm, agreed to acquire Veris Residential, a Northeast-focused, Class A multifamily REIT, for $3.4bn. "Since the reconstitution of the Board in 2020, Veris has undergone a remarkable transformation into a sector-leading, pure-play multifamily REIT. Throughout this period, the Board has remained focused on enhancing value for shareholders, executing on initiatives that drive operational improvements while divesting non-strategic assets. After a comprehensive review process conducted with independent financial and legal advisors, the Board unanimously determined the all-cash Transaction delivers compelling value and certainty to shareholders with an immediate cash premium. On behalf of the Board, I want to recognize the management team for their extraordinary commitment to this transformation and to delivering this outcome for our shareholders," Tammy K. Jones, Veris Chair of Board of Directors.