ATLANTA (February 5, 2007) –Jamestown, an Atlanta-based real estate investment and management company, has completed its acquisition of 999 Peachtree Street, a class A office building with street-level retail in Midtown Atlanta, as part of its latest fund, Jamestown Co-Invest IV.

999 Peachtree – formerly known as First Union Plaza – is the home of the Peachtree Club, Midtown’s only private dining club. The 621,000-square-foot building was 83 percent leased at closing and is anchored by Sutherland Asbill and Brennan LLP, Atlanta’s sixth-largest law firm.

The purchase price was approximately $127 million, more than $200 per square foot. The seller, Childress Klein Properties, developed the building in 1987.

"The 999 Peachtree acquisition is a significant step forward in becoming part of the dramatic repositioning of Midtown Atlanta as a 24-hour environment,” said Clay Adams, chief investment officer for Jamestown Co-Invest IV. “The office building is in a premier location with exceptional tenants. We see a number of great opportunities to improve its street-level retail presence as well as lease high quality office space at compelling rates compared to the building’s proximate peer group."

999 Peachtree is Jamestown’s fifth acquisition in the metro Atlanta area in its Co-Invest IV U.S. Private Equity Real Estate Fund.

Co-Invest IV focuses on opportunistic and development opportunities in high-growth southeastern U.S. markets including Atlanta; Savannah, Ga.; Charleston, S.C.; Nashville, Tenn.; and Raleigh, N.C. The fund also invests in selected core markets such as Washington, D.C. and New York City. The fund has completed 15 transactions since March of 2006.

Childress Klein was represented by CB Richard Ellis in Atlanta.