Core and Core Plus Funds
JAMESTOWN has built its reputation investing in core and core-plus properties. Through these funds, the firm's goal is to produce a stable cash flow for investors and long-term capital appreciation.
Jamestown Premier is JAMESTOWN's flagship core and core-plus investment vehicle in the United States. Jamestown Premier is a perpetual-life, commingled fund for institutional investors from around the world. The Fund focuses on high-quality, income producing office and retail properties in 24-hour metropolitan centers including New York, Boston, Washington, DC, and San Francisco. In December 2011, Jamestown Premier invested in three trophy properties in New York and San Francisco (One Times Square, Chelsea Market and Pacific Place), with a total value of $1.4 billion.
The acquisition of these three assets required approximately $900 million of equity, with the bulk of the money coming from 15 pension funds in the United States, Australia and Europe and $60 million invested from Jamestown senior management. A substantial majority of the current fund equity comes from domestic investors versus foreign investors. As an open-end fund Jamestown Premier will grow over time with new investors coming in and the acquisition of additional office, retail and mixed-use assets primarily in New York, Boston, Washington, DC and San Francisco.
JAMESTOWN also recently launched a German retail fund, Jamestown 27, which raised approximately $400 million in equity and which owns five properties, two of which are Alameda South Shore Center in Alameda, CA and the Newbury Line portfolio in Boston. In company history JAMESTOWN has acquired approximately $8 billion in properties for its income producing German retail funds.
JAMESTOWN also invests in opportunistic real estate developments in Sunbelt and 24-hour markets via its opportunistic funds. These funds include land, new development and repositioning opportunities across a variety of asset classes including residential, office, retail, medical and land.