M&A Deal Summary

Veris Residential Acquires Andover Place

On April 8, 2014, Veris Residential acquired real estate company Andover Place for 38M USD

Acquisition Highlights
  • This is Veris Residential’s 7th transaction in the Real Estate sector.
  • This is Veris Residential’s 7th largest (disclosed) transaction.
  • This is Veris Residential’s 7th transaction in the United States.
  • This is Veris Residential’s 3rd transaction in Massachusetts.

M&A Deal Summary
Date 2014-04-08
Target Andover Place
Sector Real Estate
Buyer(s) Veris Residential
Deal Type Add-on Acquisition
Deal Value 38M USD

Target

Andover Place

Andover,, Massachusetts, United States
Andover Place Apartments, a 220-unit, multi-family property.This luxury community consists of studio, one, two,and three-bedroom units, as well as three-bedroom duplexes.

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Buyer(S) 1

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 7 of 8
Sector (Real Estate) 7 of 8
Type (Add-on Acquisition) 5 of 6
State (Massachusetts) 3 of 3
Country (United States) 7 of 8
Year (2014) 1 of 2
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-24 100 Independence Mall West

Philadelphia, Pennsylvania, United States

100 Independence Mall West is a nine-story office building which features an attractive lobby with dual entrances with 390,690 Square feet.

Buy $41M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-10 Curtis Center

Philadelphia, Pennsylvania, United States

Curtis Center comprises 13-story, class A office and retail building spread over an area of 885,000 square feet.

Buy $125M
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