JBG Smith is trying to offload a 432-unit Union Market apartment building it purchased less than four years ago — potentially at a significant discount.

The Bethesda-based REIT this month issued tenants a notice, which Bisnow obtained, saying that it intends to sell The Batley apartment building at 1270 Fourth St. NE. 

The asking price is $180M, according to the notice. JBG purchased the 11-story property in the winter of 2021 for $205M. 

On the notice form, the REIT chose the option marked “owner no longer wants to own it” as its reason for the sale — the other options were reuse, redevelopment or “other.” 

Read more about the building and JBG Smith's recent selling spree.

— Emily Wishingrad

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