![\"Sawyer](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/03\/Sawyer-Smith-New-Development-Jersey-City-Urby-Building-copy-1024x682.jpg\")
Veris Residential, which owns Jersey City\u2019s Sable complex among other developments, has agreed to a $3.4 billion sale with New York City-based Affinius Capital. Photo by Jersey Digs.<\/p>\n Veris Residential, which owns Jersey City\u2019s Sable complex among other developments, has agreed to a $3.4 billion sale with New York City-based Affinius Capital. Photo by Jersey Digs.<\/p>\n
One of Jersey City\u2019s most prominent real estate companies is slated to be acquired in a blockbuster deal just a few years after it sold off many of its commercial properties and prominent development sites.<\/p>\n
Veris Residential has announced that it has entered into a definitive merger agreement to be acquired by an investor consortium, which is being led by Affinius Capital in partnership with Vista Hill Partners. The companies acquiring Veris have agreed to a $3.4 billion all-cash deal that will take the company private, a deal the Veris board has already unanimously approved.<\/p>\n
\u201cSince the reconstitution of the board in 2020, Veris has undergone a remarkable transformation into a sector-leading, pure-play multifamily REIT,\u201d said Tammy K. Jones, chair of Veris\u2019 board of directors. \u201cAfter a comprehensive review process conducted with independent financial and legal advisors, the board unanimously determined that the all-cash transaction delivers compelling value and certainty to shareholders with an immediate cash premium.<\/p>\n
The eye-popping sale comes after Veris sold off tons of office space in New Jersey that it itself acquired when it purchased Mack-Cali. Some of the company\u2019s most notable transactions include the $420 million sale of Jersey City\u2019s Harborside<\/a> complex and a Hyatt Regency<\/a> hotel across the street.<\/p>\n Veris has also notably sold off many of its Jersey City development sites in recent years, unloading Harborside 8 & 9<\/a> late last year for $75 million, another parcel,\u00a0Harborside 4,<\/a>\u00a0for $58 million, and a large plot at 107 Morgan Street<\/a> for $54 million.<\/p>\n The company still owns several prominent Jersey City properties, including Sable<\/a> (formerly Urby), Haus 25<\/a>, The BLVD Collection, and SoHo Lofts<\/a>.<\/p>\n \u201cOver the past five years, we have undertaken meaningful steps to pivot away from office, simplifying and focusing the business, strengthening our balance sheet and enhancing our operational platform,\u201d Veris CEO Mahbod Nia said in a statement.<\/p>\n \u201cToday\u2019s announcement marks the culmination of our strategic transformation into a top-performing pure-play multifamily REIT with Core, Class A properties concentrated in premier U.S. residential markets and our stated objective of realizing intrinsic value on behalf of our shareholders,\u201d he added.<\/p>\n Affinius Capital is based out of New York City and currently has $61 billion in assets under management and a diversified portfolio of equity and credit investments totaling over 33,000 residential units. Their deal to acquire Veris Residential is expected to close during the second quarter of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"Veris Residential, which owns Jersey City\u2019s Sable complex among other developments, has agreed to a $3.4 billion sale…\n","protected":false},"author":2,"featured_media":156170,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[55742,64586,9,11,10,35182,60072],"class_list":["post-156169","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-affinius-capital","tag-mack-cali","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-veris-residential","tag-vista-hill-partners"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/156169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=156169"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/156169\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/156170"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=156169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=156169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=156169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Harborside](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/01\/harborside-4-tower-jersey-city-0000-731x1024.jpg\")
A rendering of the approved Harborside 4 site, which was sold by Veris back in 2022. Image courtesy of Handel Architects.<\/p>\n