AMSTERDAM – (BUSINESS WIRE) – Global real estate and investment company Jamestown announced today that it has significantly expanded its global presence and now has more than US $ 1 billion in European assets under management with the acquisition of two more buildings in Amsterdam and a property portfolio management contract. Dollar has Europe-wide on behalf of one of its institutional investment partners and co-investors, E.ON Pension Trust. This latest news on the European portfolio follows Jamestown’s recent purchase of three office buildings in Cologne and just over a year after purchasing the legendary Groot Handelsgebouw in Rotterdam, one of the largest mixed-use buildings in the Netherlands. The company currently hosts more than 450 companies.
“After entering the European market just over a year ago, Jamestown expanded its platform to include $ 1 billion in assets under management and a skilled real estate team headquartered in Cologne with offices in Amsterdam, London and Madrid,” said Jamestown President Michael Phillips. “We continue to see many opportunities for future growth. Our vertically integrated team structure is the root of our value-adding asset management strategy, which enables us to create innovative spaces while preserving the cities’ industrial past. As our European presence grows, we will continue to focus on sustainable, adaptive reuse projects that bring new life to local communities. ”
Jamestown’s newly acquired Dutch assets are located in Amsterdam’s up-and-coming Schinkel district and include the historic A-Factorij, previously owned by E.ON Pension Trust and home to one of Jamestown’s European offices, and Helicopterstraat, a property which previously belonged to Gerose and consisted of four buildings on the adjacent helicopter road, the Vlegenuigstraat and the Valschermkade. The properties were acquired in collaboration with E.ON Pension Trust and the RAG Foundation. E.ON Pension Trust made the decision to include A-Factorij in the co-investment because they believe in the long-term potential of the neighborhood and that future opportunities in the neighborhood are better used as a co-investment with the newly acquired properties. Investors.
In addition, Jamestown will provide asset management services for a portfolio of E.ON Pension Trust properties in Italy, the Netherlands, Portugal, Spain and the UK. Jamestown-managed properties include a mix of shopping malls, office buildings, and mixed-use buildings.
“We have known Jamestown for a long time and they have been a great partner for us in the US,” said Udo Schaffer, Vice President, Head of Real Estate, E.ON SE. “Jamestown is one of our preferred global partners because it is an active asset management company and focuses on creative and unconventional thinking. After several co-investments with Jamestown in Europe, we are now looking forward to working with you on E.ON Pension Trust’s separate account portfolio. ”
The A-Factorij (Polizestraat 35-45), a 11,908 square meter former bicycle factory, was originally built in 1955 and converted into a creative office in 2002. Jamestown has been involved in the management of the property since 2018. A-Factorij is the Helicopterstraat, a 6,234 square meter commercial property with four interconnected offices and industrial spaces, plus an exhibition room and gym on the ground floor. The Schinkel district is being transformed from industrial and loft offices into a real mixed-use community with a residential focus. The Amsterdam municipality plans to transform the 247 hectare neighborhood into a vibrant, innovative and sustainable neighborhood with international appeal.
Appelhoven Real Estate Advisors represented Gerose in this off-market transaction.
Van Ooijen accountants and tax advisors (Paul van der Aar and Adriaan Daniels) together with HMK Notarissen were the legal and tax advisors of the seller. Greenberg Sadly represented Jamestown.
“This area of Amsterdam has aroused great interest among institutional and private investors from around the world,” said Stijn Uijthoven from Appelhoven Real Estate Advisors. “The properties Jamestown acquired from Gerose Vastgoed have been designed to be flexible, sustainable, and responsive to the changing neighborhood. Jamestown has been a joy to work with on this transaction and I look forward to seeing the property and the wider community develop over the years to come. ”
Jamestown has long been committed to ensuring a better future for renters, residents, visitors and investors by creating spaces that are sustainable, healthy and inclusive. After reaching its goal of cutting energy and greenhouse gas (GHG) emissions by 20 percent four years ahead of schedule, Jamestown pledged to cut its GHG emissions again in 2020 by pledging to make a net by 2050 -Achieving Zero Working Carbon belongs to other forward-thinking global organizations and 193 countries, and has incorporated the United Nations’ Sustainable Development Goals into its corporate sustainability strategy.
For high resolution images of A-Factorij and Helicopterstraat, please click here.
Jamestown is a design-led real estate investment and management company with a 37 year track record and a clear mission: to transform spaces into innovation centers and community centers. Jamestown employs more than 400 people worldwide with headquarters in Atlanta, Georgia and Cologne and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, New York and San Francisco. The company is known in the industry for its market discipline. Since its inception in 1983, Jamestown has executed over $ 35 billion in transactions. As of December 31, 2020, the company had assets under management of $ 12.1 billion. Current and previous projects include Chelsea Market in New York City, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, and the Innovation and Design Building in Boston. In addition to its portfolio in key US markets, Jamestown continues to expand its investment base in South America and Europe.