REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2023

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		2022	—	12,047	114,208	584	12,047	114,792	126,839	4,419

Essex County
Millburn (Short Hills)
The Upton	Multifamily	2021	—	74,606	2,850	—	91,960	2,850	91,960	94,810	8,930

Hudson County
Jersey City
Harborside Plaza 5	Office	2002	2002		6,218	170,682	(8,422)	3,996	164,482	168,478	92,411
Haus25	Multifamily	2022		333,512	53,421	420,959	(384)	53,421	420,575	473,996	21,888
Liberty Towers	Multifamily	2003	2019	264,697	66,670	328,347	11,341	66,670	339,688	406,358	38,466
BLVD 475 N/S	Multifamily	2011	2017	164,944	58,761	240,871	8,471	58,761	249,342	308,103	49,205
Soho Lofts	Multifamily	2017	2019	158,126	27,601	224,039	6,060	27,601	230,099	257,700	32,837
BLVD 425	Multifamily	2003	2018	130,673	48,820	160,740	5,525	48,820	166,265	215,085	27,463
BLVD 401	Multifamily	2016	2019	116,642	36,595	152,440	391	36,595	152,831	189,426	20,555
Weehawken
100 Avenue at Port Imperial	Other	2016	2016	—	350	—	30,644	1,958	29,036	30,994	7,053
500 Avenue at Port Imperial	Other	2013	2013	31,480	13,099	56,669	(19,213)	13,099	37,456	50,555	9,894
RiverHouse 9 at Port Imperial	Multifamily	2021	—	109,221	2,686	—	154,575	2,686	154,575	157,261	11,925
RiverHouse 11 at Port Imperial	Multifamily	2018	2018	99,896	22,047	—	112,471	22,047	112,471	134,518	18,946
West New York
Port Imperial North Retail	Other	2008	2020	—	4,305	8,216	1,123	4,305	9,339	13,644	1,230

Morris County
Morris Plains
Signature Place	Multifamily	2018	2018	42,944	930	—	56,498	930	56,498	57,428	9,528





NEW YORK
Westchester County
Eastchester
Quarry Place at Tuckahoe	Multifamily	2016	2016	40,763	5,585	3,400	49,002	5,585	52,402	57,987		11,086

MASSACHUSETTS
Middlesex County
Malden
The Emery at Overlook Ridge	Multifamily	2020	2014	71,554	4,115	86,093	10,091	9,104	91,195	100,299		12,150

Suffolk County
East Boston
Portside at East Pier	Multifamily	2015	2016	55,252	—	73,713	861	—	74,574	74,574		19,008
Portside 2 at East Pier	Multifamily	2018	2018	96,809	—	37,114	77,324	—	114,438	114,438		19,654

Worcester County
Worcester
145 Front at City Square	Multifamily	2018	2015	62,778	4,380	—	92,306	4,380	92,306	96,686		16,933

Projects Under Development
and Developable Land				—	99,644	59,052	—	99,644	59,052	158,696		10,200

Furniture, Fixtures
and Equipment				—	—	—	103,613	—	103,613	103,613

TOTALS				1,853,897	470,124	2,136,543	784,821	474,499	2,916,989	3,391,488	(e)	443,781

(a)The aggregate cost for federal income tax purposes at December 31, 2023 was approximately $2.4 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.

NOTE TO SCHEDULE III

Changes in rental properties and accumulated depreciation for the periods ended December 31, 2023, 2022 and 2021 are as follows: (dollars in thousands)


	2023		2022		2021
Rental Properties
Balance at beginning of year	$	4,046,122	$	4,076,866	$	4,638,643
Additions	25,661		845,900		1,002,342
Sales and assets held-for-sale	(608,276)		(747,407)		(1,522,994)
Impairments	(72,019)		(129,237)		(27,547)
Retirements/disposals	—		—		(13,578)
Balance at end of year	$	3,391,488	$	4,046,122	$	4,076,866


Accumulated Depreciation
Balance at beginning of year	$	631,910	$	583,416	$	656,331
Depreciation expense	94,590		102,476		102,062
Sales and assets held-for-sale	(243,217)		(28,924)		(159,541)
Impairments	(39,502)		(25,058)		(1,858)
Retirements/disposals	—		—		(13,578)
Balance at end of year	$	443,781	$	631,910	$	583,416

VERIS RESIDENTIAL, L.P.