JBG SMITH Properties LP Overview
Pro stress-test →JBG SMITH owns, operates, and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, where through its focus on placemaking, it cultivates vibrant, highly amenitized, walkable neighborhoods. As of March 31, 2026, its Operating Portfolio consisted of 38 operating assets comprising 15 multifamily assets totaling 6,519 units and 22 commercial assets totaling 7.3 million square feet.
Strategic Profile
Pro stress-test →JBG SMITH reported Q1 2026 revenue of $127.6M and Core FFO of $9.8M, though Same Store NOI fell 4.8% and Net Debt/Adjusted EBITDA reached 12.7x. The company focuses on premium mixed-use development in the DC metro market, leveraging its position as a leading owner-operator, though elevated leverage and softening same-store performance present headwinds in the challenging post-pandemic office market.
Competitive Landscape
Pro stress-test →JBG SMITH competes with regional and national REITs focused on mixed-use and office properties. Direct competitors include Apartment Investment & Management (Denver-based multifamily and office operator) and other DC-area mixed-use developers. The company's competitive advantages center on premier DC location, strong development capabilities, and mixed-use expertise, though it faces headwinds from weak office fundamentals affecting peer valuations.
Industry Context
JBG SMITH Properties LP operates in Mixed-Use Commercial Real Estate Investment Trusts.
Key facts
Headquarters: Chevy Chase, US · Revenue: $499M · Market cap: $836M