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NONCONTROLLING INTERESTS IN SUBSIDIARIES | 12 Months Ended
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Dec. 31, 2025
Noncontrolling Interest [Abstract] |
NONCONTROLLING INTERESTS IN SUBSIDIARIES | NONCONTROLLING INTERESTS IN SUBSIDIARIES Noncontrolling interests in subsidiaries in the accompanying consolidated financial statements relate to (i) common units (“Common Units”) and LTIP Units in the Operating Partnership, held by parties other than the General Partner (“Limited Partners”), and (ii) interests in consolidated joint ventures for the portion of such ventures not owned by the Company. Pursuant to ASC 810, Consolidation, on the accounting and reporting for noncontrolling interests and changes in ownership interests of a subsidiary, changes in a parent’s ownership interest (and transactions with noncontrolling interests unitholders in the subsidiary) while the parent retains its controlling interest in its subsidiary should be accounted for as equity transactions. The carrying value of the noncontrolling interests shall be adjusted to reflect the change in its ownership interest in the subsidiary, with the offset to equity attributable to the parent. Accordingly, as a result of equity transactions which caused changes in ownership percentages between Veris Residential, Inc. stockholders’ equity and noncontrolling interests in the Operating Partnership that occurred during the year ended December 31, 2025, the Company has increased noncontrolling interests in the Operating Partnership and decreased additional paid-in capital in Veris Residential, Inc. stockholders’ equity by approximately $0.3 million. NONCONTROLLING INTERESTS IN OPERATING PARTNERSHIP (applicable only to General Partner) Common Units During the year ended December 31, 2025, the Company redeemed 54,530 common units for common shares, at their fair value of $0.7 million, and redeemed 30,015 common units for cash, at their fair value of $0.5 million. Certain individuals and entities own common units in the Operating Partnership. A common unit and a share of Common Stock of the General Partner have substantially the same economic characteristics in as much as they effectively share equally in the net income or loss of the Operating Partnership. Common unitholders have the right to redeem their common units, subject to certain restrictions. The redemption is required to be satisfied in shares of Common Stock, cash, or a combination thereof, calculated as follows: one share of the General Partner’s Common Stock, or cash equal to the fair market value of a share of the General Partner’s Common Stock at the time of redemption, for each common unit. The General Partner, in its sole discretion, determines the form of redemption of common units (i.e., whether a common unitholder receives Common Stock, cash, or any combination thereof). If the General Partner elects to satisfy the redemption with shares of Common Stock as opposed to cash, it is obligated to issue shares of its Common Stock to the redeeming unitholder. Regardless of the rights described above, the common unitholders may not put their units for cash to the General Partner or the Operating Partnership under any circumstances. When a unitholder redeems a common unit, noncontrolling interests in the Operating Partnership is reduced and Veris Residential, Inc. Stockholders’ equity is increased. LTIP Units LTIP Units may be converted on a one-for-one basis into common units. Common units in turn have a one-for-one relationship in value with shares of the General Partner’s common stock, and are redeemable on a one-for-one basis for cash or, at the election of the Company, shares of the General Partner’s common stock. As of December 31, 2025, there are no unvested LTIP Units. Unit Transactions The following table sets forth the changes in noncontrolling interests in subsidiaries which relate to the common units and LTIP Units in the Operating Partnership for the years ended December 31, 2025, 2024 and 2023:
| Common Units/ Vested LTIP Units | Unvested LTIP Units
Balance at January 1, 2023 | 9,301,521 | 558,084
Redemption of common units for shares of common stock | (820,540) | —
Redemption of common units | (9,229) | —
Conversion of vested LTIP Units to common units | 452,328 | —
Vested LTIP Units | (231,519) | (220,809)
Cancellation of units | — | (335,392)
Balance at December 31, 2023 | 8,692,561 | 1,883
Redemption of common units for shares of common stock | (22,197) | —
Vested LTIP Units | 1,883 | (1,883)
Balance at December 31, 2024 | 8,672,247 | —
Redemption of common units for shares of common stock | (54,530) | —
Redemption of common units | (30,015) | —
Balance at December 31, 2025 | 8,587,702 | —
Noncontrolling Interests Ownership in Operating Partnership As of December 31, 2025 and 2024, the noncontrolling interests common unit and LTIP Units holders owned 8.4 percent and 8.5 percent of the Operating Partnership, respectively. NONCONTROLLING INTERESTS IN CONSOLIDATED JOINT VENTURES (applicable to General Partner and Operating Partnership) The Company consolidates certain joint ventures in which it has ownership interests. Various entities and/or individuals hold noncontrolling interests in these ventures.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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- References No definition available. + Details
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