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New York REIT to Combine With JBG Companies, Creating $8.4 Billion REIT
- Client News
- May 25, 2016
New York REIT, Inc. announced that it has agreed to acquire substantially all of the properties and management business of the JBG Companies and certain of its private funds. Upon completion of the transaction, the combined company, to be renamed JBG Realty Trust, will form an estimated $8.4 billion enterprise value REIT with a premier property portfolio in New York City and the Washington, D.C. area. JBG Realty Trust will be headquartered in Chevy Chase, Maryland with a regional office in New York City.
The Paul, Weiss team advising AR Global, the external manager of New York REIT, included corporate partner Jeffrey Marell; employee benefits partner Lawrence Witdorchic; and tax partner Scott Sontag.