M&A Deal Summary

Veris Residential and Fisher Brothers Acquire 377-Unit Multi-Family Residential Development Project

On December 16, 2013, Veris Residential and Fisher Brothers acquired real estate company 377-Unit Multi-Family Residential Development Project

Acquisition Highlights
  • This is Veris Residential’s 4th and Fisher Brothers’ 1st transaction in the Real Estate sector.
  • This is Veris Residential’s 4th and Fisher Brothers’ 1st transaction in the United States.
  • This is Veris Residential’s 1st and Fisher Brothers’ 1st transaction in District of Columbia.

M&A Deal Summary
Date 2013-12-16
Target 377-Unit Multi-Family Residential Development Project
Sector Real Estate
Buyer(s) Veris Residential
Fisher Brothers
Deal Type Joint Venture

Target

377-Unit Multi-Family Residential Development Project

Washington,, District of Columbia, United States
The 377-unit project includes approximately 25,000 square feet of retail space and a 309-space underground parking garage.

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Buyer(S) 2

Buyer

Veris Residential

Jersey City, New Jersey, United States
Category Company
Sector Real Estate
Employees234
Revenue 280M USD (2023)
DESCRIPTION

Veris Residential is an owner, manager, and developer of class A real estate. The Company performs all commercial real estate leasing, management, acquisition, development and construction services on an in-house basis. Veris Residential is based in Jersey City.

DEAL STATS #
Overall 4 of 8
Sector (Real Estate) 4 of 8
Type (Joint Venture) 1 of 1
State (District of Columbia) 1 of 1
Country (United States) 4 of 8
Year (2013) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-04 Alterra at Overlook Ridge 1B

Revere,, Massachusetts, United States

Alterra 1B is located within the Overlook Ridge master planned community located in the cities of Malden and Revere, and sit adjacent to U.S. Route 1 at the Salem Street interchange, just five miles north of downtown Boston. Roseland has been the master developer of the community approved for 2,800 units with ancillary commercial uses since 2002.

Buy $88M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-19 Riverwatch Commons and Richmond Court

New Brunswick, New Jersey, United States

Riverwatch Commons and Richmond Court a luxury properties consist of studio, one-, and two-bedroom units ranging in size from 623 to 950 square feet.

Buy $41M
Buyer

Fisher Brothers

New York,, New York, United States
Category Company
Founded 1915
Sector Real Estate
DESCRIPTION

Fisher Brothers Corp. a owned real estate firm.Fisher Brothers manages and leases more than 6 million square feet of Class "A" Midtown Manhattan office buildings including 299 Park Avenue, 1345 Avenue of the Americas, Park Avenue Plaza and 605 Third Avenue.

DEAL STATS #
Overall 1 of 1
Sector (Real Estate) 1 of 1
Type (Joint Venture) 1 of 1
State (District of Columbia) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
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