JBG keeping nearly $2B in assets out of NY REIT merger

From left: Matt Kelly and Michael Happel New York REIT’s proposed merger with Washington, D.C.-area landlord JBG Companies comes with a slight catch. JBG is withholding around $1.8 billion in assets from the combined company. Regulatory filings detailing the deal – which will see JBG and New York REIT merge to form a new publicly […]

New York REIT stock drops 8% in wake of JBG merger

One Worldwide Plaza (inset: W. Matt Kelly and Michael Happel) New York REIT shareholders aren’t nearly as chuffed about the company’s proposed merger with JBG Companies as the executives involved. The company’s stock dropped more than 8 percent to close at $9 per share Thursday, one day after the company announced that it had agreed […]

New York REIT, JBG announce merger

1440 Broadway in Midtown (inset, from left: Michael Happel and Matt Kelly) UPDATED, 6:30 p.m., May 25: New York REIT is merging with the Maryland-based JBG Companies, in a deal that will form a new real estate investment trust with roughly $8.4 billion in assets, both sides announced Wednesday. The transaction will see private real estate […]