Jamestown L.P.

Jamestown L.P.
Company type	Private
Industry	Real estate
Founded	1983; 41 years ago
Founder	Christoph Kahl
Headquarters	Atlanta, Georgia, United States
Key people	Matt Bronfman (CEO); Christoph Kahl (chairman); Michael Phillips (president);
Parent	Simon Property Group (50%);
Website	www.jamestownlp.com

Jamestown L.P. is a real estate investment and management company based in Atlanta, Georgia. The company invests in commercial and mixed-use real estate developments in several cities in the United States.^[1]^[2] Among Jamestown's properties is the One Times Square building, the site of the annual New Year's ball drop in Manhattan, New York,^[3] as well as Ponce City Market in Atlanta and Industry City in Brooklyn. As of 2018, Jamestown maintains more than $11 billion in assets under management.^[4]

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Jamestown was founded in 1983 by the German investor Christoph Kahl.^[5] The company was initially backed by investors primarily located in Germany.^[1]^[2] In one of its first high-profile acquisitions in 1997, Jamestown purchased One Times Square in Manhattan, New York, from Lehman Brothers for $110 million.^[3] 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 on Fifth Avenue in Manhattan.^[6]

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.^[7]

Twelve months before the onset of the 2008 financial crisis, Jamestown liquidated 75% of its investments and reimbursed the proceeds to its investors.^[8] The company then made more than $500 million of real estate investments in 2010^[1] including acquiring a former Sears building from the city of Atlanta^[9] which was redeveloped into Ponce City Market.^[5]

In 2011, Jamestown acquired full ownership of Chelsea Market (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,^[4] Jamestown later sold Chelsea Market to Google's parent company, Alphabet Inc. in 2018 for $2.4 billion.^[10]

The company also made a large investment in the Back Bay area of Boston, Massachusetts in 2012. Jamestown's properties along Boston's Newbury Street encompassed 15% of the buildings on the street being developed as a shopping district. Purchased for $226 million,^[11] the Back Bay area property was sold to the North Carolina-based Asana Partners in 2018 for nearly $300 million.^[12]

In 2013, Jamestown acquired for $54 million the retail portion of Ghirardelli Square in San Francisco, a 100,394-square feet property near Fisherman's Wharf.^[13] Along with partners, the company also acquired a 50% stake in Industry City, a 16-building complex covering 6 million square feet. Jamestown planned a $100 million investment in renovations.^[14]

In December 2019, Jamestown began marketing an investment fund that targets individuals, with a minimum investment of $2500.^[15]

In 2022, Simon Property Group acquired a 50% stake in Jamestown from the latter's original partners.^[16]

[1]
Pruitt, A. D. (January 8, 2011). "Jamestown Snaps Up New Property". Wall Street Journal. ISSN 0099-9660. Retrieved May 29, 2019.
[2]
Brick, Michael (October 16, 2002). "German Funds Pour Money Into U.S. Properties". The New York Times. ISSN 0362-4331. Retrieved May 29, 2019.
[3]
Bagli, Charles V. (June 19, 1997). "Tower in Times Sq., Billboards and All, Earns 400% Profit". The New York Times. ISSN 0362-4331. Retrieved May 29, 2019.
[4]
Grant, Peter (March 20, 2018). "New York's Chelsea Market Seeks to Replicate Success in Other Cities". Wall Street Journal. ISSN 0099-9660. Retrieved May 29, 2019.
[5]
Sadovi, Maura Webber (November 3, 2010). "Jamestown's Cautious View". Wall Street Journal. ISSN 0099-9660. Retrieved May 29, 2019.
[6]
Pristin, Terry (December 29, 2004). "A Record Deal Now Looks Like a Good One, Too". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.
[7]
Brown, Eliot (December 26, 2012). "Ads, Not Tenants, Make Times $quare". Wall Street Journal. ISSN 0099-9660. Retrieved May 31, 2019.
[8]
Kingston, Charles (March 10, 2017). "Secrets of a successful US real estate investor – Christoph Kahl". REFIRE. Retrieved May 31, 2019.
[9]
Rhone, Nedra. "How Sears brought a retail revolution to Atlanta". ajc. Retrieved May 31, 2019.
[10]
Bagli, Charles V. (February 7, 2018). "$2.4 Billion Deal for Chelsea Market Enlarges Google's New York Footprint". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.
[11]
Diesenhouse, Susan (September 11, 2012). "Jamestown Properties Finds a Boom in Boston's Back Bay". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.
[12]
Logan, Tim (January 15, 2019). "Newbury Street parking, apt to fetch millions, offers rare development opportunity". The Boston Globe. Retrieved May 31, 2019.
[13]
Levy, Dan (September 24, 2013). "Jamestown Purchases Ghirardelli Square in San Francisco". Bloomberg. Retrieved May 31, 2019.
[14]
Satow, Julie (January 17, 2014). "Industry City, the SoHo of Sunset Park". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.
[15]
Grant, Peter (December 3, 2019). "Real-Estate Firms Rolling Out New Funds for Mom-and-Pop Investors". The Wall Street Journal.
[16]
"Simon (SPG) Completes Jamestown's 50% Interest Acquisition". www.yahoo.com. December 20, 2022. Retrieved May 21, 2023.

Official website

[:0-1] [1]
Pruitt, A. D. (January 8, 2011). "Jamestown Snaps Up New Property". Wall Street Journal. ISSN 0099-9660. Retrieved May 29, 2019.

[:1-2] [2]
Brick, Michael (October 16, 2002). "German Funds Pour Money Into U.S. Properties". The New York Times. ISSN 0362-4331. Retrieved May 29, 2019.

[:2-3] [3]
Bagli, Charles V. (June 19, 1997). "Tower in Times Sq., Billboards and All, Earns 400% Profit". The New York Times. ISSN 0362-4331. Retrieved May 29, 2019.

[:3-4] [4]
Grant, Peter (March 20, 2018). "New York's Chelsea Market Seeks to Replicate Success in Other Cities". Wall Street Journal. ISSN 0099-9660. Retrieved May 29, 2019.

[:4-5] [5]
Sadovi, Maura Webber (November 3, 2010). "Jamestown's Cautious View". Wall Street Journal. ISSN 0099-9660. Retrieved May 29, 2019.

[6] [6]
Pristin, Terry (December 29, 2004). "A Record Deal Now Looks Like a Good One, Too". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.

[7] [7]
Brown, Eliot (December 26, 2012). "Ads, Not Tenants, Make Times $quare". Wall Street Journal. ISSN 0099-9660. Retrieved May 31, 2019.

[8] [8]
Kingston, Charles (March 10, 2017). "Secrets of a successful US real estate investor – Christoph Kahl". REFIRE. Retrieved May 31, 2019.

[9] [9]
Rhone, Nedra. "How Sears brought a retail revolution to Atlanta". ajc. Retrieved May 31, 2019.

[10] [10]
Bagli, Charles V. (February 7, 2018). "$2.4 Billion Deal for Chelsea Market Enlarges Google's New York Footprint". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.

[11] [11]
Diesenhouse, Susan (September 11, 2012). "Jamestown Properties Finds a Boom in Boston's Back Bay". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.

[12] [12]
Logan, Tim (January 15, 2019). "Newbury Street parking, apt to fetch millions, offers rare development opportunity". The Boston Globe. Retrieved May 31, 2019.

[13] [13]
Levy, Dan (September 24, 2013). "Jamestown Purchases Ghirardelli Square in San Francisco". Bloomberg. Retrieved May 31, 2019.

[14] [14]
Satow, Julie (January 17, 2014). "Industry City, the SoHo of Sunset Park". The New York Times. ISSN 0362-4331. Retrieved May 31, 2019.

[15] [15]
Grant, Peter (December 3, 2019). "Real-Estate Firms Rolling Out New Funds for Mom-and-Pop Investors". The Wall Street Journal.

[16] [16]
"Simon (SPG) Completes Jamestown's 50% Interest Acquisition". www.yahoo.com. December 20, 2022. Retrieved May 21, 2023.

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