Vornado Realty Trust on Monday revealed plans to spin off its Washington, D.C.-focused business and merge it with The JBG Cos.' assets in the area in an $8.4 billion reverse Morris trust transaction that will create the largest pureplay Washington, D.C., real estate company, according to a statement.

The deal will see Vornado separate its Washington, D.C., business, known as Vornado/Charles E. Smith, through a tax-free spinoff and then merge the newly spun off company with a similarly focused business of JBG to form JBG Smith, according to a statement.

JBG is being advised by Hogan Lovells. Ballard Spahr LLP is advising on local issues. Bank of America Merrill Lynch is serving as exclusive financial adviser.

The Ballard Spahr team is led by Roger D. Winston and includes Katherine M. Noonan and Ashley Haun.