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Veris Residential Inc. is officially privately held following the acquisition the of Class A multifamily real estate investment trust.

An investor consortium led by Affinius Capital in partnership with Vista Hill Partners closed its $3.5 billion buyout of the Jersey City-based REIT, according to a May 27 announcement from the target.

Under the deal revealed in February, the buyers purchased all of the REIT’s outstanding common stock for $19 per share, Veris said.

The deal represents the successful transformation of the former Mack-Cali Realty Corp. After rebranding in 2021, the new Veris Residential embarked on a transition to streamline its focus as a pure-play multifamily REIT.

With the completion of the deal, Veris common stock ceased trading on the New York Stock Exchange, the company said.

Veris Residential’s portfolio comprises 12 properties across Jersey City, Port Imperial and Short Hills. It also has communities in East Boston and Malden, Mass.

The company sold a mixed-use development site in Jersey City for $75 million last December. The deal was one of several dispositions made in 2025.

• The James, Park Ridge – $117 million
  Built in 2021, Class A multifamily named for native James Gandolfini
• Signature Place, Morris Plains – $85 million
  Fully leased (at time of sale), 197-unit Class A asset

After consolidating its majority stake in Jersey City Urby in April 2025, Veris Residential CEO Mahbod Nia described the move as a milestone in the effort to simplify its portfolio.

Advisors

J.P. Morgan and Morgan Stanley & Co. LLC acted as financial advisors to Veris. Weil, Gotshal & Manges LLP and Seyfarth Shaw LLP acted as legal advisors.

UBS Investment Bank acted as lead buyside financial advisor. Goldman Sachs & Co LLC also acted as financial advisor. Skadden, Arps, Slate, Meagher & Flom LLP; Greenberg Traurig LLP; and Simpson Thacher & Bartlett LLP counseled the buyers and Eastdil Secured acted as real estate advisor.

Goldman Sachs & Co. LLC served as the lead arranger and underwriter on the bridge loan; UBS Securities LLC acted as co-arranger and underwriter. Gibson, Dunn & Crutcher LLP provided counsel to Goldman Sachs.

In 2023, Kushner Cos. conceded efforts to add Veris Residential to its fold, a move that would also have taken the target private.