With the hopes to bring in $300 million to $500 million in equity, Chevy Chase-based developer The JBG Cos. plans on selling more than a dozen properties over the course of the next six to 12 months, as reported by Washington Business Journal.
Earlier this month, JBG and New York REIT Inc. called off a proposed $8.4 billion merger that would have allowed JBG to become a publicly traded company. In a press release, REIT disclosed that the merger collapsed due to resistance from shareholders. JBG described the collapse of the planned merger as a "clear failure," according to BisNow.
JBG is not currently pursuing other options to go public. JBG will receive a $9.5 million termination fee from REIT.
Some of the assets JBG has already begun selling include the Westin Arlington Gateway Hotel and 1025 Thomas Jefferson Court NW.