A popular mixed-use property in Atlanta’s Inman Park neighborhood will undergo a transformation as a result of a Joint Venture partnership. Jamestown will be joining hands with TriBridge Residential to transform Inman Quarter, a mixed-use residential and retail property. On Monday, the former announced that it had acquired the minority interest from the latter, which has been the longtime owner.
Highlights
- Jamestown has acquired the minority interest in the multi-use property, Inman Quarter, in the Inman Park neighborhood.
- The firm will leverage its areas of expertise to enhance the common spaces, create a community events program, and improve merchandising.
- Inman Park has been owned by TriBridge Residential since 2015.
A Transformation Awaits Inman Quarter
In the joint venture partnership, Jamestown will aim to enhance the Inman Quarter’s value through its expertise in creative placemaking, property management, and retail leasing. The company’s strategy will include improved common areas and creating a community events program.
Jamestown also plans to improve merchandising by leasing retail vacancies in a curated fashion. As per the official announcement, the retail space will be taken up by popular restaurants and cafes like MF Sushi, Little Spirit, bartaco, and Beetlecat.
Matt Bronfman, CEO of Jamestown, said that Inman Quarter will be anchored by its great retail and prime location in one of Atlanta’s most walkable live-work-play neighborhoods. Speaking about their partners in the project, he said, “TriBridge is a strong multifamily operator and investor with a history of identifying great locations. We believe our vertically integrated capabilities and consumer-centric approach to real estate will complement their skillset to create new value-add opportunities for the property.”
In a statement, Andy Green, Managing Partner of TriBridge, said, “TriBridge is pleased to partner with Jamestown to reimagine Inman Quarter through thoughtful programming and new courtyard activation, deepening both our firms’ commitment to the neighborhood.”
Spanning 208,000 square feet, the Inman Quarter consists of 200 residential units, around 40,000 square feet of retail space, and a parking deck with 515 spaces. Located at the intersection of North Highland Avenue, Elizabeth Street, and Lake Avenue, the property is just one block away from the Atlanta Beltline Eastside Trail.
Its location places it very close to the Fourth Ward Park and the Inman Park MARTA transit station. An analysis done using Placer.ai concluded that the Inman Quarter attracts an estimated 500,000 visitors every year.
TriBridge Residential and Coro Realty Advisors had bought Inman Quarter for $72.5 million in 2015, but the latter sold its stake. JPX Works and South City Partners developed Inman Park more than a decade ago, soon after the Eastside Trail was opened.
About the Partners
Jamestown is a vertically integrated real estate investment manager and service provider that is design-focused and has over 40 years of experience. The Atlanta-based firm is familiar to the city as the owners of Ponce City Market, Colony Square, Westside Provisions District, and Buckhead Village. The company’s portfolio expands to suburban Atlanta, with Avalon in Alpharetta, The Forum Peachtree Corners, Avenue East Cobb in Marietta, and Parkside Shops in Sandy Springs.
Based in Atlanta for over 70 years, TriBridge Residential is an entrepreneurial multifamily real estate firm. Operating in the Southeast US, it manages over 6000 units in the region. The latest addition to the company’s portfolio is The Goat Farm, an arts-centric district with half a million square feet of area and home to the Museum of Contemporary Art of Georgia.
Atlanta has been seeing investments being made in many of its prominent in-town retail districts. The new joint venture partnership is expected to be the mark of a new era in Inman Quarter’s history.
