Bruce Schanzer

Money Moves

Activist investor who pushed for strategic review; holds 4.87% of Veris shares

Veris Residential, a publicly traded apartment landlord with 7,681 units in the Northeast, 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 removes it from the New York Stock Exchange. An activist investor prompted this, publicly demanding weeks earlier that the company sell itself and arguing its shares traded at a steep discount to the buildings' actual value.

Updated May 29