Today, we announced we will acquire the Atlanta subsidiary of Cincinnati-based North American Properties, a family-owned real estate company founded by William J. Williams, Sr. in 1954. The Atlanta subsidiary NAP Atlanta, which has $2 billion in assets under management as of June 2024, is an owner/operator and real estate services provider of mixed-use properties across the Eastern U.S. The acquisition will reinforce Jamestown’s mixed-use placemaking business and diversify Jamestown into more suburban, high-growth markets. As part of the transaction, a Jamestown affiliate will make an investment in the platform’s portfolio comprised of Colony Square (Atlanta, Georgia), The Forum Peachtree Corners (Peachtree Corners, Georgia), Avenue East Cobb (Marietta, Georgia), Birkdale Village (Huntersville, North Carolina), Ridge Hill (Yonkers, New York), and Newport on the Levee (Newport, Kentucky). The acquisition also includes the platform’s real estate services business that manages Avalon (Alpharetta, Georgia), Mercato (Naples, Florida), and Riverton (Sayreville, New Jersey). These third-party services engagements will add to Jamestown’s growing real estate services business, which currently includes 22 projects across 19 cities and ten countries. Upon closing, which is subject to customary closing conditions, pending approval from lenders and investors, and anticipated to occur by the fourth quarter of 2024, the Atlanta-based operating platform and its assets will move forward under the Jamestown name—as will its more than 200 employees. Tim Perry, who is currently the Managing Partner of NAP’s Atlanta subsidiary, will join Jamestown’s executive team as a Managing Director and Co-Chief Investment Officer. For more info, see here: https://lnkd.in/eqEsZAJy #commercialrealestate #CRE #acquisition #Atlanta #suburban #mixeduse
Very exciting news for Jamestown. A strategic strike at growth and a new team of excellent people. Well done and Congratulations.
Excited to grow with Jamestown and for the opportunities to come!
This is outstanding news Matt. You are getting one of the crown jewels of the Cincinnati business community!
Congratulations on this Joining of two great companies with Creativity and Innovation at its core.
Congratulations to the NAP Atlanta team, as well as Jamestown on an amazing addition to their portfolio!
Congratulations!
Awesome properties! Congratulations
Wow! Very cool!
We're ready for the next chapter!