Real Estate

New York REIT stock drops 8% in wake of JBG merger

therealdeal.comNew York REIT shareholders aren’t nearly as chuffed about the company’s proposed merger with JBG Companies as the executives involved.

The company’s stock dropped more than 8 percent to close at $9 per share Thursday, one day after the company announced that it had agreed to merge with JBG, a Maryland-based private real estate firm. The deal brings JBG’s assets under New York REIT’s publicly-traded umbrella and creates a new combined company, JBG Realty Trust, with around $8.4 billion in assets focused in the New York City and Washington, D.C. markets.

Categories: Real Estate

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