Real estate investment and management firm Jamestown has announced it will acquire the Atlanta subsidiary of North American Properties (NAP).
The transaction adds several properties to the firm’s portfolio, including Colony Square in Midtown, The Forum Peachtree Corners and Avenue East Cobb, as well as three properties outside of Georgia (in Huntersville, North Carolina; Yonkers, New York; and Newport, Kentucky).
“Our goal is to be the best mixed-use investor and operator globally, focusing on creating innovation hubs and community centers,” Jamestown CEO Matt Bronfman said in an announcement. “As part of the firm’s next chapter, Jamestown plans to continue to scale its vertically integrated platform and mixed-use expertise to more markets. This acquisition advances our goal and is a major step toward realizing our long-term vision for the future.”
Upon closing, which is expected to happen by Q4 of this year, the assets of North American Properties-Atlanta, along with its more than 200 employees, will move forward under the Jamestown name.
As part of the deal, Jamestown will also manage Avalon in Alpharetta, as well as two properties outside of Georgia (in Naples, Florida, and Sayreville, New Jersey).
Tim Perry, currently the managing partner of North American Properties-Atlanta, will join Jamestown’s executive team as a managing director and co-chief investment officer.
“Joining Jamestown represents an exciting new chapter,” Perry said. “We look forward to continuing to create dynamic, community-focused destinations and unlocking new value creation opportunities as part of Jamestown’s global platform.”
NAP’s Atlanta subsidiary was established in 1996 and has positioned itself as a boutique full-service real estate developer specializing in mixed-use destinations. It has $2 billion in assets under management as of June 2024.
Jamestown was founded in 1983. As of June 2024, the firm has $11.7 billion in assets under management. Jamestown is the team behind Ponce City Market, as well as Chelsea Market in New York.
