Veris Residential (NYSE: VRE) shares jumped 13% on Monday after the company announced it will be acquired by an investor consortium led by Affinius Capital and Vista Hill Partners. The all-cash transaction, valued at $3.4 billion, will take the multifamily real estate investment trust private.

Under the terms of the agreement, shareholders and holders of common units in Veris' operating partnership will receive $19.00 in cash per share or unit. Notably, the offer represents a 13% premium to Friday's closing price of $16.77 and a 23.2% premium to the company's share price on February 4, 2026. As a result, investors responded quickly, pushing the stock sharply higher.

The deal follows an extensive strategic review process conducted with financial advisors J.P. Morgan and Morgan Stanley. During that time, Veris engaged with a broad range of potential buyers, including financial sponsors, sovereign wealth funds, pension funds, and multifamily investment platforms. Ultimately, the consortium led by Affinius and Vista Hill emerged as the winning bidder.

Importantly, Veris' Board of Directors unanimously approved the transaction. In addition, Bow Street LLC-- which owns approximately 5.6% of the company's outstanding shares--has already agreed to vote in favor of the merger, providing early support for the deal. The companies expect to close the transaction in the second quarter of 2026, subject to shareholder approval and customary closing conditions.

To fund the acquisition, the consortium will combine equity investments with debt financing, including a $2.08 billion senior secured bridge loan facility. Meanwhile, Veris plans to pay its regular quarterly dividend for the first quarter of 2026. However, it will suspend dividends thereafter as it prepares to transition to private ownership.

Once the deal closes, Veris will delist its common stock from the New York Stock Exchange, marking the end of its tenure as a publicly traded company.

Overall, the acquisition represents a pivotal shift for Veris Residential. By moving into private hands, the company enters a new phase under Affinius Capital and Vista Hill Partners, positioning itself for its next chapter beyond the public markets.

To find out more information about Veris Residential please visit www.VerisResidential.com.

The post Veris Residential to Go Private in $3.4 Billion Deal Led by Affinius and Vista Hill appeared first on PRISM MarketView.

COMTEX_474078479/2927/2026-02-23T08:30:33