JBG Companies Named NAIOP Developer of Year

Financial strength and diverse development portfolio contribute to firm’s selection

July 11, 2012

NAIOP, the Commercial Real Estate Development Association, today announced that The JBG Companies has been selected as the national 2012 Developer of the Year.

The JBG Companies is a premier Chevy Chase, Md.-based investor, owner and developer, that invests almost exclusively in urban-infill, transit-oriented developments – assets that, by virtue of location, physical quality, available amenities or other specific features, possess a sustainable advantage over its competition.

JBG has developed, owned or managed over 30 million square feet of office space, 15,000 multi-family residential units, 5.5 million square feet of retail space and 15 hotel properties totaling over 4,500 rooms. JBG is currently responsible for development/redevelopment opportunities of approximately 8.5 million square feet of office space, 13,200 multi-family residential units, 2.2 million square feet of retail space, and 2,500 hotel rooms throughout the Washington Metropolitan area.

“JBG’s position as an industry leader is evidenced by its ability to develop and manage many product types, from residential to retail to hotels and large government buildings,” said Thomas J. Bisacquino, NAIOP president and CEO. “NAIOP is proud to recognize JBG for its outstanding projects and its ability to maintain its core business, while incorporating other strategies, such as sustainability, into its developments.”

NAIOP will present the Developer of the Year award on Wednesday, October 24, at NAIOP’s Development 12: The Annual Meeting for Commercial Real Estate in Washington, D.C.

Leadership and Strategic Investment Decisions in Development

It would be next to impossible for any real estate company to prosper for 50 years without the ability to adapt to market conditions. Beyond that fact, The JBG Companies combines investment management capabilities with its experience in real estate development and asset management to maintain a broader outlook on market conditions and a deeper toolbox for responding to them.

JBG’s investment management success is tied to its consistent efforts to analyze and understand shifting conditions and trends in the marketplace. Being able to quickly recognize and adapt to changes has been vital to achieving above-market returns for investors.

The JBG Companies embraces innovation and flexibility. During the slower economy over the past 18 months, the company turned to its expertise in working with the federal government. In concert with its partners, JBG successfully competed for four large U.S. General Services Administration requirements. Construction has begun on:

• 575,000 square foot office complex for the National Cancer Institute
• 490,998 square foot office complex for the National Institute of Allergies and Infectious Diseases
• 538,000 square foot office complex for the Social Security Administration
• A full scale building renovation of the U.S. Health and Human Services complex totaling 1,300,000 square feet

When market conditions in 2008 – 2009 did not support moving forward with the development of 800 North Glebe, in Arlington, Va., JBG took advantage of competitive construction pricing and efficiencies to construct only the below grade garage portion of the 800 North Glebe project (in conjunction with the development of Virginia Tech’s adjacent 900 North Glebe project). In so doing, JBG positioned the property for a shortened vertical development schedule as soon as market conditions and financing allowed the project to proceed on a speculative basis. Thirteen months from the start of tower construction, 800 North Glebe delivered into a supply-constrained Ballston submarket.

JBG executes investment strategies built on six core principles: geographic focus on control, multi-product expertise, efficient use of capital, incremental risk-taking, profit maximization, and proprietary deal flow.

As JBG continues to manage its current investment fund portfolios and considers deployment of new capital, it remains committed to maintaining pricing discipline both as buyer and seller and will adhere to its investment philosophy and strategy across cycles and markets.

Leadership in Real Estate and General Business Communities

Rather than specializing in one area of real estate development, The JBG Companies has accumulated years of success in developing all product types: office, residential, retail, hotel and mixed-use. Each of these product types has its own division at JBG, led by an expert in that particular discipline. This wider range of expertise is critical to JBG’s success in executing complex mixed-use developments.