Connect with us


Veris Residential Celebrates Anniversary of Rebranding

Veris Residential, Inc. (NYSE: (the “Company”), a forward-thinking, environmentally- and socially-conscious real estate investment trust (REIT) that primarily owns, operates, acquires, and develops Class A multifamily properties, today celebrates the one-year anniversary of its rebranding—an effort undertaken to align the Company’s brand with its corporate values, multifamily-focused strategic direction, and objective of generating long-term value for shareholders while meeting the sustainability-conscious lifestyle preferences of its residents.

Mahbod Nia, Chief Executive Officer, said, “One year ago, we put forth a mission: to become a more responsible, transparent, and forward-thinking company focused on evolving our properties and operations to reduce our carbon footprint, advancing our positive impact on the planet and the communities in which we live and work, and fostering a unified culture of equality, strong corporate governance, and meritocracy. One year later, I can confidently say that we have excelled in pursuit of this mission—a testament to the hard work and dedication of our team, without whom our many accomplishments over the last 12 months would not have been possible. As we approach the final stages of our transformation into a pure-play multifamily REIT, I am excited by the opportunities we have identified to continue creating a more sustainable future at our properties, for our people and for the planet, while maximizing value for our shareholders.”

In connection with its rebranding in December 2021, Veris Residential launched Embrace by Veris Residential, a formal approach to Environmental, Social and Governance (ESG) initiatives designed to serve “Properties, People and The Planet.” Select initiatives the Company has implemented in pursuit of its new brand ethos since then include:

Streamlined, upgraded, and integrated operations and systems across the Company, including significant technology enhancements leading to increased communication across teams and improved property management.

Over 40% of Veris Residential’s wholly-owned multifamily portfolio became Green Certified (LEED® or equivalent) up from 25%, and 100% of the portfolio’s electricity under the Company’s control is procured from renewable sources.

Signed sustainability living addendums to lease agreements across more than 50% of the Company’s multifamily portfolio.

New technologies to support sustainable living were installed throughout the portfolio—such as SOURCE hydropanels, WaterSense fixtures, Smart Rain irrigation controls, and beehives.

Planted the first Veris Farms at The BLVD Collection and the Company’s corporate offices in Jersey City and Boston, creating a blueprint for the installation of biodiverse hydroponic vertical farms across the portfolio; last month, 100% of BLVD Collection’s hydroponic farming harvest was donated to York St. Project, an organization dedicated to supporting the Jersey City community

Reaffirmed the CEO Action for Diversity & Inclusion Pledge.

Adopted the UN Women’s Empowerment Principles, pledging to reach 50% gender equality at the management level by 2025, and partnered with Kahilla, an organization dedicated to supporting women’s professional development.

Launched Veris University, a mentorship program to support employees’ educational initiatives, empower their professional success, and inspire personal growth.

Established the DE&I Council to oversee employee affinity groups, including the Company’s Women’s Network and Diversity Network.

Joined the National Minority Supplier Development Council to support businesses that are at least 51% minority owned and WBEC Metro NY to support women business owners.

Partnered with Blue Ocean Brain, a DE&I microlearning training platform, to offer unconscious bias training to 100% of Veris Residential’s employees, senior management, and Board of Directors.

Continue Reading