JBG Smith Properties sold a 50% stake in its 552,000-square-foot Central Place office tower in December for $220 million, the Bethesda-based firm disclosed in its 2019 annual report released Tuesday. The sale to PGIM Inc. of the Rosslyn asset netted JBG Smith (NYSE: JBGS) $53.4 million and comes as the company seeks to both shed properties outside of its core business and fuel a development pipeline. In all, JBG Smith sold or recapitalized around $426 million last year, above previously stated expectations of around $400 million, according to the regulatory filing. Read More...
JBG Smith sheds more real estate to fund its development pipeline while warning of Amazon risks
JBG Smith Properties sold a 50% stake in its 552,000-square-foot Central Place office tower in December for $220 million, the Bethesda-based firm disclosed in its 2019 annual report released Tuesday. The sale to PGIM Inc. of the Rosslyn asset netted JBG Smith (NYSE: JBGS) $53.4 million and comes as the company seeks to both shed properties outside of its core business and fuel a development pipeline. In all, JBG Smith sold or recapitalized around $426 million last year, above previously stated expectations of around $400 million, according to the regulatory filing.
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