Affinius-led group to take Veris private in $3.4B deal

Veris Residential is going private. The Jersey City-based multifamily landlord agreed to be acquired by an investor consortium led by Affinius Capital, alongside Vista Hill Partners, in an all-cash deal valued at $3.4 billion, including debt. The $19-per-share price represents a 23 percent premium to the company’s unaffected share price earlier this month. The transaction, announced Monday, marks the end of Veris’ five-year pivot away from office and into a Class A multifamily platform concentrated in the Northeast. Once a hybrid office and apartment owner formerly known as Mack-Cali, the real estate investment trust spent years shedding suburban office assets, […] This article originally appeared on The Real Deal. Click here to read the full story.