Mahbod Nia

Money Moves

Led the company through its office-to-apartment transformation; now overseeing sale process

Veris Residential, a publicly traded apartment landlord with 7,681 units across the Northeast United States, has agreed to sell itself to a private investor group led by Affinius Capital for $19.00 per share in cash. The deal values the company at $3.4 billion and will remove it from the New York Stock Exchange. It comes just weeks after an activist investor publicly demanded the company put itself up for sale, arguing that its shares traded at a steep discount to the actual value of its buildings.

Updated Feb 23