09:24 AM EDT, 07/10/2025 (MT Newswires) -- Veris Residential ( VRE ) said Thursday that it had amended its $500 million credit facility established in April of last year.

The amended facility consisted of a $300 million revolving credit facility and a $200 million delayed-draw term loan, the company said.

Veris said the amended facility introduces a leverage-based pricing grid for the revolving credit facility, with spreads ranging from 1.25% to 1.80% over SOFR, and reduces the required number of secured properties in the collateral pool from five to two.

The company said the amended facility continues to mature in April 2027 and keeps a one-year extension option for the revolving credit facility.

Concurrently, Veris said it had completed the $85 million sale of Signature Place and that the proceeds were used to reduce its term loan by $80 million to $120 million.