ATLANTA (July 10, 2007) – Jamestown and Griffin Realty Advisors, two Atlanta-based real estate investment and management companies, have partnered in a strategic alliance to target for acquisition about $850 million in value-added U.S. real estate properties.

Jamestown has primarily raised capital from German investors since the company’s inception in 1982. During that time, Jamestown has acquired more than $8 billion in U.S. real estate, including New York’s One Times Square and Chelsea Market; San Francisco’s Union Square and Pacific Place; and Boston’s One Federal Street and 125 High Street. In 2006, Jamestown earned a $1 billion profit for its investors with the sale of New York’s 1211 Avenue of the Americas.

Jamestown most recently raised more than $600 million for its latest opportunity fund, Jamestown Co-Invest 4. Jamestown’s funds have more than 50,000 foreign investors for whom the company handles all investor services, ranging from investor communications and reporting to preparation and filing K1s and income tax returns.

“Our partnership with Griffin Realty Advisors further strengthens both firms,” said Jamestown Managing Director Matt Bronfman. “The alliance with Griffin Realty Advisors broadens Jamestown’s capital base with U.S. investors and creates a partnership with a well-respected team of experienced institutional fund managers.”

James P. Ryan, CEO of Griffin Realty Advisors, said Jamestown has a proven track record of profitable transactions with landmark properties. Jamestown principals will serve on the acquisition vehicle’s investment committee and board of directors and will be actively involved in the acquisition process.

“Jamestown brings an unmatched reputation for acquiring, managing and selling trophy assets,” Ryan said. “In addition, the firm brings a platform developed over the past 25 years focused on addressing client needs, including investor reporting.”

Griffin focuses on value-added U.S. real estate assets with a strategy of redeveloping and repositioning investments. All property types are considered, including commercial, retail, hotel, multifamily and land.

Ryan and his partners, including Chief Investment Officer Andrew MacLellan, have decades of institutional real estate investment experience.

Prior to forming Griffin Realty Advisors, Ryan served as CEO of VEF Advisors in partnership with Apollo Real Estate Advisors, which purchased the Value Enhancement Funds from Lend Lease Real Estate Investments in 2004. While at Lend Lease Real Estate Investments, Ryan managed the Value Enhancement Fund series for more than 13 years. Ryan founded the Value Enhancement Fund series at Equitable Real Estate Investment Management in 1993. During Ryan’s tenure, the series grew to six funds with $2 billion in capital.

MacLellan has extensive experience in hotel and real estate management and development, having been involved in the development of more than $1 billion of hotel and real estate properties. His breadth of experience spans more than 30 years with three of the hotel industry’s leaders: Westin Hotels and Resorts, Intercontinental Hotels and Dolce International.

“The team is unsurpassed in expertise and professionalism,” Jamestown’s Bronfman said. “Griffin Realty Advisors’ philosophy and experience fit well with Jamestown’s senior management. We look forward to a successful partnership.”