Investors - NOVEMBER 1, 2016

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

JBG sells D.C. office asset for $142m, participates in $8.4b merger

by Andrea Waitrovich

The JBG Cos. has sold Jefferson Court in Washington, D.C., for $141.8 million, or approximately $447 per square foot. HFF marketed the property on behalf of JBG and procured the buyer, Alduwaliya Asset Management, a U.K.-based private investment vehicle representing a Qatari high-net-worth family.

Jefferson Court is 96 percent leased. The 315,248-square-foot, eight-story Georgetown office building was constructed in 1984 across from Georgetown Waterfront Park and two blocks south of the M Street corridor at 1025 Thomas Jefferson St. N.W.

Recently, Vornado Realty Trust reached a deal to spin off and merge with its D.C.-area portfolio with The JBG Cos. in an $8.4 billion transaction. Vornado’s board of trustees approved the tax-free spinoff of its Washington, D.C., properties into a publicly traded REIT that will merge with JBG to form JBG Smith Properties. It will trade on the New York Stock Exchange under the ticker “JBGS.

The merger creat

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy