What changed in this filing

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Item 2. Properties

2025-02-18 compared with 2024-02-20 · 21 added, 39 removed, 108 unchanged (36% of the section changed)

Note on presentation of "at share" information.

We present certain financial information and metrics "at JBG SMITH Share," which is calculated on an entity-by-entity basis, but exclude our:

(i) 10.0% subordinated interest in one commercial building, (ii) 33.5% subordinated interest in four commercial buildings, (iii) 49.0% interest in three commercial buildings and (iv) 9.9% interest in one commercial building, as well as the associated non-recourse mortgage loans, held through unconsolidated real estate ventures;

We present certain financial information and metrics "at JBG SMITH Share," which is calculated on an entity-by-entity basis, but exclude our 10.0% subordinated interest in one commercial building and our 33.5% subordinated interest in four commercial buildings, as well as the associated non-recourse mortgage loans, held through unconsolidated real estate ventures;

these interests and debt are excluded because our investment in each real estate venture is zero, we do not anticipate receiving any near-term cash flow distributions from the real estate ventures, and we have not guaranteed their obligations or otherwise committed to providing financial support.

14 unchanged sentences

Clark Street - Residential

Fort Totten Square

F1RST Residences

1 unchanged sentence

1221 Van Street

900 W Street (3)

North End Retail (4)

8001 Woodmont (4)

Total / Weighted Average (3)

Recently Delivered

National Landing

Total / Weighted Average

Operating - Total / Weighted Average (3)

1 unchanged sentence

National Landing

1900 Crystal Drive (5)

2000/2001 South Bell Street

Under-Construction - Total

Totals at JBG SMITH Share (3)

National Landing

In-service assets

Recently delivered assets

Operating - Total / Weighted Average

4 unchanged sentences

Clark Street - Residential and 900 W Street are excluded from percent leased and percent occupied metrics as they are operated as short-term rental properties .

(4) In January 2024, we sold North End Retail for a gross sales price of $14.3 million.

(5) In 2021, we leased the land underlying 1900 Crystal Drive and 2000/2001 South Bell Street to a lessee.

The assets are consolidated in our financial statements as they are owned through variable interest entities for which we are the primary beneficiary.

See Note 6 to the consolidated financial statements for additional information.

(4) Classified as held for sale in our consolidated balance sheet as of December 31, 2024.

Commercial Assets

14 unchanged sentences

1770 Crystal Drive

2100 Crystal Drive

1800 South Bell Street (3)

200 12th Street S.

2200 Crystal Drive (3)

Crystal Drive Retail (3)

Crystal City Shops at 2100 (3)

Central Place Tower (4)

2101 L Street

800 North Glebe Road

3 unchanged sentences

Operating - Total / Weighted Average

Totals at JBG SMITH Share

National Landing

Operating - Total / Weighted Average

Operating - Total / Weighted Average at JBG SMITH Share

At 100% share, unless otherwise noted.

8 unchanged sentences

251 18th Street S.

1800 South Bell Street

2200 Crystal Drive

Crystal Drive Retail *

Crystal City Shops at 2100

Clark Street - Office

(4) Asset is subject to a ground lease where we are the lessee.

In February 2024, one of our unconsolidated real estate ventures sold Central Place Tower for a gross sales price of $325.0 million.

* Includes 72,215 SF of not available to lease space from the asset formerly known as Crystal City Shops at 2100.

(4) Asset is subject to a ground lease through 2084, where we are the lessee.

(5) Not Metro-served.

3 unchanged sentences

National Landing

Potomac Yard Landbay F/G/H

50.0% / 100.0%

3330 Exchange Avenue

1 unchanged sentence

RiverHouse Land

Potomac Yard Landbay F/G/H

50.0% / 100.0%

2250 Crystal Drive

2100/2200 Crystal Drive Land

223 23rd Street

2525 Crystal Drive

101 12th Street S.

1901 South Bell Street Land (1)

101 12th Street S.

1800 South Bell Street

Gallaudet Parcel 2-3 (2)

Capitol Point - North

Gallaudet Parcel 4 (2)

Capitol Point - North

Other Development Parcels (3)

4 unchanged sentences

(2) Controlled through an option to acquire a leasehold interest.

As of December 31, 2023, the weighted average remaining term for the option is 1.4 years.

(3) Comprises four assets in which we have a minority interest.

4 unchanged sentences

Lockheed Martin Corporation

Accenture LLP

Accenture Federal Services LLC

Public Broadcasting Service

Whole Foods Market Group Inc

American Diabetes Association

Booz Allen Hamilton Inc

Greenberg Traurig LLP

The International Justice Mission

Family Health International

National Consumer Cooperative

Includes all leases as of December 31, 2024 for which a tenant has taken occupancy for office and retail space within our Operating Portfolio.

10 unchanged sentences

(1) Annualized rent and annualized rent per square foot exclude percentage rent and the square footage of tenants that only pay percentage rent.

LEGAL PROCEEDINGS

We are, from time to time, involved in legal actions arising in the ordinary course of business.

In our opinion, the outcome of such matters is not expected to have a material adverse effect on our financial position, results of operations or cash flows.

MINE SAFETY DISCLOSURES

Not applicable.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 2. Properties