REITs Join DC Assets In $8.4B Reverse Morris Trust Deal

Law360, New York (November 1, 2016, 6:21 PM EDT) -- Vornado Realty Trust on Monday revealed plans to spin off its Washington, D.C.-focused business and merge it with The JBG Cos.’ assets in the area in an $8.4 billion reverse Morris trust transaction that will create the largest pure-play Washington, D.C., real estate company, according to a statement.

The deal will see Vornado separate its Washington, D.C., business, known as Vornado/Charles E. Smith, through a tax-free spinoff and then merge the newly spun off company with a similarly focused business of JBG to form JBG Smith,...
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