Affinius-led Group Finalizes Nearly $4B Veris Takeover

An investor group led by Affinius Capital completed a previously announced acquisition of Veris Residential, a real estate investment trust with a focus on properties in the northeastern U.S.

The all-cash transaction totaled $3.5 billion, including debt. Investor buyout was priced at $19 per share of Veris common stock. With the acquisition completed, Veris common stock has ceased trading on the New York Stock Exchange, per a press release. The investor group comprises San Antonio-based Affinius and Jersey City-based Vista Hill Partners. Affinius boasts around $61 billion in assets under management around the United States.

The transaction’s completion is the final step in a five year shift for Jersey City-based multifamily landlord Veris. Over the last half decade, Veris has been moving away from hybrid office space and apartment holdings into a solely-residential enterprise. When Veris was Mack-Cali Realty Corp, they spent years slowly dropping billions in suburban office property in an effort to balance their books and earn back investor confidence.

The deal became imminent in the second quarter of 2026 in February, when Veris announced their intent following weeks of activist investor pressure. At the time, Erez Asset Management, a 5 percent stakeholder, pushed for the company to either put itself up for sale or take a strategic review of alternatives. Erez thought that shareholders could get from $22-25 per share, a few dollars less per share less than the deal closed with.

In 2023, Veris planned a future review following a failed takeover effort from Kushner Companies, which saw Veris accused of misleading the public.

Veris’s portfolio consists of Class A multifamily units dotted across the New York City metro area, in addition to Boston and New Jersey.

The transaction included a roughly $2 billion bridge loan, which was underwritten by Goldman Sachs and UBS Securities, according to the press release.

— Hunter Cooke