REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2022

Real Estate Investments And Accumulated Depreciation


Property Location	Property Type	Year Built	Acquired	Related Encumbrances	Initial Costs		Costs Capitalized Subsequent to Acquisition (c)	Gross Amount at Which Carried at Close of Period (a)		Total (d)	Accumulated Depreciation (b)


					Land	Building and Improvements		Land	Building and Improvements


NEW JERSEY
Bergen County
Park Ridge
The James	Multifamily	2021	—	—	12,047	114,208	18	12,047	114,226	126,273	1,298

Essex County
Millburn (Short Hills)
The Upton	Multifamily	2021	—	74,467	2,850	—	91,993	2,850	91,993	94,843	5,531

Hudson County
Jersey City
Harborside Plaza 2	Office	1990	1996	—	17,655	101,546	85,609	8,363	196,447	204,810	95,016
Harborside Plaza 3	Office	1990	1996	—	17,655	101,878	85,277	8,363	196,447	204,810	95,016
Harborside Plaza 5	Office	2002	2002	—	6,218	170,682	63,534	5,705	234,729	240,434	125,140
Harborside Plaza 6	Office	2000	2000	—	1,244	56,144	9,338	991	65,735	66,726	26,182
Liberty Towers	Multifamily	2003	2019	264,293	66,670	328,347	7,482	66,670	335,829	402,499	28,980
BLVD 475 N/S	Multifamily	2011	2017	164,929	58,761	240,871	7,645	58,761	248,516	307,277	41,041
Soho Lofts	Multifamily	2017	2019	159,230	27,601	224,039	5,438	27,601	229,477	257,078	25,778
BLVD 425	Multifamily	2003	2018	130,546	48,820	160,740	5,234	48,820	165,974	214,794	21,852
BLVD 401	Multifamily	2016	2019	116,545	36,595	152,440	307	36,595	152,747	189,342	16,272
Haus25	Multifamily	2022	—	295,736	53,421	420,959	—	53,421	420,959	474,380	8,482
Weehawken
100 Avenue at Port Imperial	Other	2016	2016	—	350	—	30,644	1,958	29,036	30,994	6,183
500 Avenue at Port Imperial	Other	2013	2013	31,974	13,099	56,669	(19,321)	13,099	37,348	50,447	8,895
Riverhouse 9	Multifamily	2021	—	108,998	2,686	—	154,507	2,686	154,507	157,193	6,623
Riverhouse 11	Multifamily	2018	2018	99,875	22,047	—	112,390	22,047	112,390	134,437	15,093
Residence Inn/Envue Autograph Collection	Other	2019	2015	83,964	23,660	—	86,341	15,560	94,441	110,001	16,759
West New York
Port Imperial North Retail	Other	2008	2020	—	4,305	8,216	1,123	4,305	9,339	13,644	928

Monmouth County


Holmdel
23 Main Street	Office	1977	2005	—	4,336	19,544	1,965	4,336	21,509	25,845		12,166

Morris County
Morris Plains
Signature Place	Multifamily	2018	2018	42,848	930	—	56,455	930	56,455	57,385		7,808

NEW YORK
Westchester County
Eastchester
Quarry Place at Tuckahoe	Multifamily	2016	2016	40,697	5,585	3,400	48,995	5,585	52,395	57,980		9,426

MASSACHUSETTS
Middlesex County
Malden
The Emery at Overlook Ridge	Multifamily	2020	2014	71,490	4,115	86,093	10,090	9,103	91,195	100,298		8,724

Suffolk County
East Boston
Portside at Pier One	Multifamily	2015	2016	58,959	—	73,713	914	—	74,627	74,627		16,546
Portside 5/6	Multifamily	2018	2018	96,721	—	37,114	77,301	—	114,415	114,415		15,988

Worcester County
Worcester
145 Front Street	Multifamily	2018	2015	62,705	4,380	—	92,237	4,380	92,237	96,617		13,828

Projects Under Development
and Developable Land				—	171,107	191,628	—	171,107	191,628	362,735		31,280

Furniture, Fixtures
and Equipment				—	—	—	99,095	—	99,095	99,095

TOTALS				1,903,977	606,137	2,548,231	1,114,611	585,283	3,683,696	4,268,979	(e)	660,835

(a)The aggregate cost for federal income tax purposes at December 31, 2022 was approximately $3.2 billion.

(b)Depreciation of buildings and improvements are calculated over lives ranging from the life of the lease to 40 years.

(c)These costs are net of impairments and valuation allowances recorded, if any.

(d)Includes properties classified as held for sale at December 31, 2022. The gross amount includes $93.1 million of land and $129.8 million of building improvements related to these held for sale assets at period end.

(e)Accumulated depreciation includes $28.9 million from assets classified as held for sale as of December 31, 2022.

NOTE TO SCHEDULE III

Changes in rental properties and accumulated depreciation for the periods ended December 31, 2022, 2021 and 2020 are as follows: (dollars in thousands)


	2022		2021		2020
Rental Properties
Balance at beginning of year	$	4,076,866	$	4,638,643	$	4,256,681
Additions	845,901		1,002,342		1,776,276
Real estate held for sale	(222,857)		(778,184)		(944,082)
Properties sold	(524,550)		(744,810)		(443,755)
Impairments	(129,237)		(27,547)		—
Retirements/disposals	—		(13,578)		(6,477)
Balance at end of year	$	4,046,123	$	4,076,866	$	4,638,643


Accumulated Depreciation
Balance at beginning of year	$	583,416	$	656,331	$	558,617
Depreciation expense	102,476		102,062		104,421
Real estate held for sale	(28,924)		(159,541)		2,238
Properties sold	—		—		—
Impairments	(25,058)		(1,858)		(2,469)
Retirements/disposals	—		(13,578)		(6,476)
Balance at end of year	$	631,910	$	583,416	$	656,331

VERIS RESIDENTIAL, L.P.