JBG Hit With $10M Contract Suit Over $122M DC Tower Deal

Law360, New York (August 3, 2012, 9:15 PM EDT) -- JBG Associates LLC was hit Friday with a $10 million breach of contract suit claiming the real estate developer reneged on a deal to buy an eight-story office tower in Washington for $122 million.

In a complaint filed in New York state court, three affiliates of Westport, Conn.-based developer Heyman Properties LLC said JBG failed to use "commercially reasonable efforts" to get financing for the $122 million deal to buy 950 L'Enfant Plaza S.W. in Washington.

"Among other things, JBG failed to proceed expeditiously, delayed in...
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