Jamestown L.P. is a

real estate investment Real estate investing involves the purchase, management and sale or rental of real estate for profit. Someone who actively or passively invests in real estate is called a real estate entrepreneur or a real estate investor. Some investors actively ...

and

management Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities o ...

company based in

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

Georgia Georgia most commonly refers to: * Georgia (country), a country in the Caucasus region of Eurasia * Georgia (U.S. state), a state in the Southeast United States Georgia may also refer to: Places Historical states and entities * Related to the ...

. The company invests in commercial and mixed-use real estate developments in several cities in the United States. Among Jamestown's properties is the

One Times Square One Times Square (also known as 1475 Broadway, the New York Times Building, the New York Times Tower, or simply as the Times Tower) is a 25-story, skyscraper on Times Square in the Midtown Manhattan neighborhood of New York City. Designed by ...

building, the site of the annual New Year's ball drop in

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

, New York, as well as

Ponce City Market Ponce City Market is a mixed-use development located in a former Sears catalogue facility in Atlanta, with national and local retail anchors, restaurants, a food hall, boutiques and offices, and residential units. It is located adjacent to th ...

in Atlanta and

Industry City Industry City (also Bush Terminal) is a historic intermodal shipping, warehousing, and manufacturing complex on the Upper New York Bay waterfront in the Sunset Park neighborhood of Brooklyn, New York City. The northern portion, commonly cal ...

Brooklyn Brooklyn () is a borough of New York City, coextensive with Kings County, in the U.S. state of New York. Kings County is the most populous county in the State of New York, and the second-most densely populated county in the United States, be ...

. As of 2018, Jamestown maintains more than $11 billion in assets under management.

History

Jamestown was founded in 1983 by the German investor Christoph Kahl. The company was initially backed by investors primarily located in Germany. In one of its first high-profile acquisitions in 1997, Jamestown purchased

in Manhattan, New York, from

Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before Bankruptcy of Lehman Brothers, filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Gol ...

for $110 million. The property is the site of the annual New Year's ball drop celebration. In 2004, Jamestown invested $300 million into the

General Motors Building A general officer is an Officer (armed forces), officer of highest military ranks, high rank in the army, armies, and in some nations' air forces, space forces, and marines or naval infantry. In some usages the term "general officer" refers t ...

Fifth Avenue Fifth Avenue is a major and prominent thoroughfare in the borough of Manhattan in New York City. It stretches north from Washington Square Park in Greenwich Village to West 143rd Street in Harlem. It is one of the most expensive shopping stre ...

. As of 2012, One Times Square brought in more than $23 million in revenue as its billboards are visible to millions of pedestrians each year. Twelve months before the onset of the

2008 financial crisis 8 (eight) is the natural number following 7 and preceding 9. In mathematics 8 is: * a composite number, its proper divisors being , , and . It is twice 4 or four times 2. * a power of two, being 2 (two cubed), and is the first number of t ...

, Jamestown liquidated 75% of its investments and reimbursed the proceeds to its investors. The company then made more than $500 million of real estate investments in 2010 including acquiring a former

Sears Sears, Roebuck and Co. ( ), commonly known as Sears, is an American chain of department stores founded in 1892 by Richard Warren Sears and Alvah Curtis Roebuck and reincorporated in 1906 by Richard Sears and Julius Rosenwald, with what began a ...

building from the city of

which was redeveloped into

. In 2011, Jamestown acquired full ownership of

Chelsea Market Chelsea Market is a food hall, shopping mall, office building and television production facility located in the Chelsea neighborhood of the borough of Manhattan, in New York City. The Chelsea Market complex occupies an entire city block with a ...

(located across the street from 111 Eighth Avenue) adding to the 75% stake in the building acquired in 2003. After a total investment of $790 million in the property, Jamestown later sold Chelsea Market to Google's parent company,

Alphabet Inc. Alphabet Inc. is an American multinational technology conglomerate holding company headquartered in Mountain View, California. It was created through a restructuring of Google on October 2, 2015, and became the parent company of Google and sev ...

in 2018 for $2.4 billion. The company also made a large investment in the

Back Bay Back Bay is an officially recognized neighborhood of Boston, Massachusetts, built on reclaimed land in the Charles River basin. Construction began in 1859, as the demand for luxury housing exceeded the availability in the city at the time, and t ...

area of

Boston Boston (), officially the City of Boston, is the state capital and most populous city of the Commonwealth of Massachusetts, as well as the cultural and financial center of the New England region of the United States. It is the 24th- mo ...

Massachusetts Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut assachusett writing systems, məhswatʃəwiːsət'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England ...

in 2012. Jamestown's properties along Boston's

Newbury Street Newbury Street is located in the Back Bay area of Boston, Massachusetts, in the United States. It runs roughly east–west, from the Boston Public Garden to Brookline Avenue. The road crosses many major arteries along its path, with an entranc ...

encompassed 15% of the buildings on the street being developed as a shopping district. Purchased for $226 million, the Back Bay area property was sold to the

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...

-based Asana Partners in 2018 for nearly $300 million. In 2013, Jamestown acquired for $54 million the retail portion of

Ghirardelli Square Ghirardelli Square is a landmark public square with shops and restaurants and a 5-star hotel in the Marina area of San Francisco, California. A portion of the area was listed on the National Register of Historic Places in 1982 as Pioneer Woolen ...

San Francisco San Francisco (; Spanish language, Spanish for "Francis of Assisi, Saint Francis"), officially the City and County of San Francisco, is the commercial, financial, and cultural center of Northern California. The city proper is the List of Ca ...

, a 100,394-square feet property near Fisherman's Wharf. Along with partners, the company also acquired a 50% stake in

, a 16-building complex covering 6 million square feet. Jamestown planned a $100 million investment in renovations. In December 2019, Jamestown began marketing an investment fund that targets individuals, with a minimum investment of $2500.

References

External links

* {{Official website, jamestownlp.com 1983 establishments in Georgia (U.S. state) Real estate companies of the United States 1983 establishments in the United States Real estate companies established in 1983 Companies established in 1983