Veris Residential, Inc. has formed a strategic partnership with Massachusetts Institute of Technology’s Center for Real Estate, one of the world’s foremost institutes for the study of real estate and technology.

Jersey City, NJ-based Veris Residential, Inc. — a real estate investment trust that primarily owns, operates, acquires and develops Class A multifamily properties — will work closely with MIT/CRE to research, develop and implement innovative solutions for advancing and optimizing multifamily real estate operations.

“We recognize innovation in the real estate industry requires diverse perspectives and are excited by the prospect of what we can achieve by combining MIT/CRE’s extraordinary resources and wealth of knowledge in the field with our practical, forward-thinking approach to managing multifamily properties,” said Mahbod Nia, CEO of Veris Residential, Inc.

Veris Residential, Inc. has launched The Veris Innovation Lab, which will work closely with MIT/CRE’s worldwide network of alumni, researchers, affiliates and industry partners to study real-world challenges in multifamily real estate and aim to devise novel solutions that can be adopted by multifamily owners, operators, and developers.

The Lab is comprised of a cross section of employees from different departments within Veris Residential, Inc. It will explore new and innovative solutions that have the potential to reduce the company’s carbon footprint, generate operating efficiencies, or create new revenue streams, while promoting focused collaboration and knowledge sharing across the organization.