Real Estate

New York REIT, JBG announce merger

therealdeal.comUPDATED, 6:30 p.m., May 25: New York REIT is merging with the Maryland-based JBG Companies, in a deal that will form a new real estate investment trust with roughly $8.4 billion in assets, both sides announced Wednesday.

The transaction will see private real estate investment firm JBG and its various funds “contribute substantially all of their properties” to publicly traded New York REIT.

The combined company, to be known as JBG Realty Trust, will hold more than 14.5 million square feet of office, residential and retail assets concentrated in New York City and Washington, D.C., according to a news release.

Categories: Real Estate

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