May
29
CRE Merger Mania Continues with JBG-NYRT Deal
ByNew York REIT Inc. is set to acquire all of JBG’s properties, together with its management business.
The Twitter Building, New York
New York—New York REIT Inc. and JBG Cos. just made a move that will change the list of the largest U.S. REITs owning premier office and mixed-use properties in infill locations. The companies have entered into an agreement calling for NYRT to acquire substantially all of JBG’s properties and its management business in a transaction that will create a REIT with an estimated enterprise value of $8.4 billion.
In a prepared statement, Randolph Read, chairman of the Board of NYRT, described the deal as “nothing short of transformative for New York REIT.”…
