Jbg Smith Properties was organized by Vornado Realty Trust as a Maryland Caretrust Reit on October 27, 2016. The Company is a real estate investment trust (" Caretrust Reit ") that owns, operates, invests and develops real estate assets concentrated in major urban infill submarkets in and around Washington, DC. They own and operate a range of high-quality office and multi-family assets, many of which are complemented by ancillary retail. In addition, they own a third-party real estate services business that provides fee-based real estate services for legacy funds formerly held by JBG Corporation (" JBG Legacy Funds ") and other third-party organizations.