XML 87 R70.htm IDEA: XBRL DOCUMENT
v3.25.4

REVOLVING CREDIT FACILITY AND TERM LOANS (Details) $ in Thousands |  |  | 12 Months Ended |
--- | --- | --- | --- | ---
Jul. 09, 2025 USD ($) lender | Apr. 22, 2024 USD ($) property extension lender | Dec. 31, 2025 USD ($) | Dec. 31, 2024 USD ($) | Dec. 31, 2023 USD ($) | Jul. 08, 2025 lender
Line of Credit Facility [Line Items] |  |  |  |  |  |
Loan balance |  |  | $ 1,400,000 | $ 1,700,000 |  |
Repayments of term loans |  |  | 200,000 | $ 0 | $ 115,000 |
Revolving Credit Facility | Credit Agreement | Line of Credit |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Secured debt |  | $ 300,000 | 300,000 |  |  |
Loan balance |  |  | $ 30,000 |  |  |
Effective Rate (as a percent) |  |  | 5.72% |  |  |
Loan period |  | 3 years |  |  |  |
Number of extensions | extension |  | 1 |  |  |  |
Extension option period |  | 12 months |  |  |  |
Number of properties with first priority lien | property |  | 5 |  |  |  |
Appraisal value |  | $ 900,000 | $ 600,000 |  |  |
Number of lenders | lender |  | 8 |  |  |  | 8
Decrease in interest rate |  |  | 0.05% |  |  |
Decrease in commitment fee percentage |  |  | 0.01% |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Debt Covenant Period One |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Total leverage ratio |  | 65.00% |  |  |  |
Debt service coverage ratio |  | 140.00% |  |  |  |
Tangible net worth ratio |  | 80.00% |  |  |  |
Percentage of net cash proceeds of equity issuances |  | 80.00% |  |  |  |
Percentage of maximum unhedged variable rate debt ratio |  | 30.00% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Debt Covenant Period Two |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Debt service coverage ratio |  | 150.00% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Alternative Base Rate |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 1.00% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | NYFRB Rate |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 0.50% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Adjusted Term SOFR |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 1.00% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Adjusted Term SOFR Subject to Floor |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 0.00% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Adjusted Daily Effective SOFR |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 0.00% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Minimum |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Facility fee basis points |  | 0.25% |  |  |  |
Revolving Credit Facility | Credit Agreement | Line of Credit | Maximum |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Facility fee basis points |  | 0.35% |  |  |  |
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Number of lenders | lender | 7 |  |  |  |  |
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit | Minimum | Alternative Base Rate |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 0.25% |  |  |  |
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit | Minimum | SOFR |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 1.25% |  |  |  |
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit | Maximum | Alternative Base Rate |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 0.80% |  |  |  |
Revolving Credit Facility | 2024 Credit Agreement | Line of Credit | Maximum | SOFR |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Interest rate, variable (as a percent) |  | 1.80% |  |  |  |
Term Loan | Credit Agreement | Line of Credit |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Secured debt |  | $ 200,000 |  |  |  |
Loan balance |  | $ 200,000 |  |  |  |
Term Loan | 2024 Credit Agreement | Line of Credit |  |  |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |  |  |
Repayments of term loans | $ 200,000 |  |  |  |  |

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(a)(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481139/470-20-50-6 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Incremental percentage increase (decrease) in the stated rate on a debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentInterestRateIncreaseDecrease
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(f)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 15 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15 + Details
Name: | us-gaap_RepaymentsOfSecuredDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Carrying amount of collateralized debt obligations with maturities initially due after one year or beyond the operating cycle, if longer, excluding the current portion. Obligations include, but not limited to, mortgage loans, chattel loans, and other borrowings secured by assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_SecuredLongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Debt Instrument, Debt Service Coverage Ratio + References No definition available. + Details
Name: | vre_DebtInstrumentDebtServiceCoverageRatio
Namespace Prefix: | vre_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Extension Option Term + References No definition available. + Details
Name: | vre_DebtInstrumentExtensionOptionTerm
Namespace Prefix: | vre_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Number Of Extensions + References No definition available. + Details
Name: | vre_DebtInstrumentNumberOfExtensions
Namespace Prefix: | vre_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Tangible Net Worth Ratio + References No definition available. + Details
Name: | vre_DebtInstrumentTangibleNetWorthRatio
Namespace Prefix: | vre_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Total Leverage Ratio + References No definition available. + Details
Name: | vre_DebtInstrumentTotalLeverageRatio
Namespace Prefix: | vre_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line of Credit Facility, Commitment Fee Percentage, Increase (Decrease) + References No definition available. + Details
Name: | vre_LineOfCreditFacilityCommitmentFeePercentageIncreaseDecrease
Namespace Prefix: | vre_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Number Of Lenders + References No definition available. + Details
Name: | vre_NumberOfLenders
Namespace Prefix: | vre_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Number of Properties, With First Lien + References No definition available. + Details
Name: | vre_NumberOfPropertiesWithFirstLien
Namespace Prefix: | vre_
Data Type: | xbrli:integerItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage Of Maximum Unhedged Variable Rate Debt Ratio + References No definition available. + Details
Name: | vre_PercentageOfMaximumUnhedgedVariableRateDebtRatio
Namespace Prefix: | vre_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage Of Net Cash Proceeds Of Equity Issuances + References No definition available. + Details
Name: | vre_PercentageOfNetCashProceedsOfEquityIssuances
Namespace Prefix: | vre_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Unencumbered Property Appraisal Value + References No definition available. + Details
Name: | vre_UnencumberedPropertyAppraisalValue
Namespace Prefix: | vre_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=vre_CreditAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | vre_DebtCovenantPeriodAxis=vre_DebtCovenantPeriodOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | vre_DebtCovenantPeriodAxis=vre_DebtCovenantPeriodTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=vre_AlternativeBaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=vre_NewYorkFederalReserveBankRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=vre_AdjustedTermSecuredOvernightFinancingRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=vre_AdjustedTermSecuredOvernightFinancingRateSubjectToFloorMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=vre_AdjustedDailyEffectiveSecuredOvernightFinancingRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=vre_A2024CreditAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_SecuredOvernightFinancingRateSofrMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=vre_TermLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |