JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.

In the late 1980s, the company was among the first real estate development firms in the D.C. area to redevelop properties for third-party clients for a set fee.

[2] By 1997, the company had an ownership interest in 21 commercial properties, including many office buildings, two hotels and one shopping center.

But with a smaller portfolio, the company also shed most of its staff, and only 15 people remained with the firm and Brown and Gildenhorn retired from daily management.

[2] In 1999, the company decided on a new investment strategy, seeking individual, and later institutional, investors that gave the firm access to funds it could use at its discretion.

[2] In 2013, the company was named as the most active real estate developer in the Washington, D.C. metropolitan area.