Vornado Realty Trust (NYSE: VNO) said Oct. 31 it plans on merging its Washington, D.C.-area properties with select assets of The JBG Companies, a real estate firm based in Chevy Chase, Maryland.
The new, combined company will become a publicly traded REIT known as JBG SMITH Properties. The transaction is valued at approximately $ 8.4 billion, and is expected to be completed in the second quarter of 2017.