Vornado agrees to $8.4B merger of DC properties with JBG

UPDATED, Oct. 31, 6:30 p.m.: Vornado Realty Trust on Monday signed a “definitive agreement” to merge its Washington, D.C. properties with JBG Companies in a $8.4 billion deal, the real estate investment trust announced in its quarterly earnings report. Prior to the agreement, Vornado’s board approved the D.C. properties’ spinoff into a separate entity, paving the way for the merger. Steve Roth, Vornado’s CEO, will serve as chairman of the board of trustees for the new company. The … [more]


Source: Real Estate

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