JBG Smith Has A Set Closing Date, Estimated Share Value
Investors looking to buy a piece of the largest real estate company in the D.C. region will be able to do so in less than a month.
Vornado revealed Monday that the merger of its D.C. business with The JBG Cos. will be made official July 7, the Washington Business Journal reports. Shares of JBG Smith, the merged entity, will be available on the New York Stock Exchange on July 18 under the moniker JBGS.
In a filing with the Securities and Exchange Commission, Vornado estimated JBG Smith will be valued at $41.34/share. The company will be worth an estimated $5.7B.
JBG Smith's extensive development pipeline spans the D.C. region. It recently landed Alamo Drafthouse Cinema to anchor 1770 Crystal Drive, one of the several Crystal City buildings JBG Smith plans to develop.
In April it signed law firm Goodwin Procter to occupy three floors at its 1900 N St. development near Dupont Circle, allowing construction to begin.
