Venable represented New York REIT, Inc. ("New York REIT") in connection with its recently announced combination with The JBG Companies ("JBG"), in which JBG and certain of its private funds will contribute substantially all of their properties to New York REIT. The combined company will form an estimated $8.4 billion enterprise value REIT, making it one of the largest REITs owning high quality office and mixed-use properties in urban-infill locations. The combination transaction remains subject to approval by New York REIT stockholders of the issuance of common stock and operating partnership units in the transaction. Upon closing, New York REIT's stockholders will own approximately 34.8% of the combined company's shares and units and JBG equity holders will own approximately 65.2%. The transaction is expected to close in the fourth quarter of 2016.
Venable's corporate team was led by Sharon Kroupa, who was assisted by Chris Pate and Brian Field.