M&A Deal Summary

Veris Residential Acquires Alterra at Overlook Ridge 1A

On January 22, 2013, Veris Residential acquired real estate company Alterra at Overlook Ridge 1A for 61M USD

Acquisition Highlights
  • This is Veris Residential’s 2nd transaction in the Real Estate sector.
  • This is Veris Residential’s 4th largest (disclosed) transaction.
  • This is Veris Residential’s 2nd transaction in the United States.
  • This is Veris Residential’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2013-01-22
Target Alterra at Overlook Ridge 1A
Sector Real Estate
Buyer(s) Veris Residential
Deal Type Add-on Acquisition
Deal Value 61M USD

Target

Alterra at Overlook Ridge 1A

Malden/Revere,, Massachusetts, United States
Alterra at Overlook Ridge 1A property boasts a unique set of amenities including an outdoor heated pool, club room equipped with billiards and flat screen TVs, fitness center, indoor basketball court and children's playroom. The property also includes a conference room for private meetings as well as theater-style cinema screening room.

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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 2 of 8
Sector (Real Estate) 2 of 8
Type (Add-on Acquisition) 2 of 6
State (Massachusetts) 1 of 3
Country (United States) 2 of 8
Year (2013) 1 of 5
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-12 125 Broad Street - Property

New York,, New York, United States

125 Broad Street is a 40-story, 1.2 million square-foot class A office building located in the heart of the Downtown Financial District with spectacular East River views.

Buy $273M
FOLLOWING 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
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