An indoor swimming pool at Portside East Pier. Courtesy photo / File

The owner of luxury apartment complexes in East Boston and Malden has agreed to go private in a deal valued at $3.4 billion.

Veris Residential owns three properties totaling 802 units in the Bay State, which were 95 percent occupied with average rents of $3,295 in the fourth quarter of 2025.

The Jersey City-based REIT said it has agreed to be acquired by a consortium led by Affinius Capital and Vista Hill Partners, at $19 per share of common stock.

Previously known as Mack-Cali, Veris rebranded in 2021. The company announced a new strategy in 2022 to transition out of the office sector into a pure multifamily REIT.

Mack-Cali’s Roseland subsidiary developed the Portside at East Pier complexes on the East Boston waterfront in the previous decade. The two properties contain a combined 476 apartments on a former abandoned pier owned by Massport, which ground-leased the property to Roseland.

In 2020, the company completed the 326-unit Emery at Overlook Ridge complex in Malden. That property was 94 percent leased with average rents of $2,970 in the fourth quarter, according to a company financial statement.

The company owns a total of 6,582 apartments, including over 5,000 on the New Jersey waterfront.

The transaction price equates to a 23 percent premium on Veris stock’s closing price on Feb. 4 and is subject to shareholder approval. The transaction is expected to close in the second quarter, according to Veris Residential.