Market Chatter: Veris Nears Deal for Rest of Jersey City Apartments
Veris Residential is nearing a deal to acquire the remaining 25% stake in a Jersey City apartment building from Urby, valuing the property at approximately $430 million. Newmark Group is advising on the transaction. Both Veris and Urby have not provided comments on the matter, and the information is based on market chatter, which may include speculation.
Veris Residential is close to buying the remaining 25% stake in a Jersey City apartment building it does not own from Urby in a deal valuing the property at about $430 million, Bloomberg reported, citing a person familiar with the situation.
Newmark Group brokers advised on the deal, the report said. Newmark didn't have an immediate comment, and a Veris representative declined to comment. Urby did not respond to a request for comment, according to the report.
They did not immediately respond to MT Newswires' request for comment.
Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.
