{"id":1004035568,"date":"2011-12-19T06:24:01","date_gmt":"2011-12-19T14:24:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035188"},"modified":"2022-12-09T01:52:57","modified_gmt":"2022-12-09T09:52:57","slug":"nearly-1b-in-assets-backs-jamestown-fund-launch","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nearly-1b-in-assets-backs-jamestown-fund-launch\/","title":{"rendered":"Nearly $1B in Assets Backs Jamestown Fund Launch"},"content":{"rendered":"

December 19, 2011<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em>
\n

\"\"<\/a>

One Times Square. Image courtesy Flickr user Bernt Rostad<\/p><\/div><\/p>\n

Capitalizing on the strength of three trophy acquisitions of late, Jamestown has moved into the public phase of its new vehicle Jamestown Premier Property Fund. Those three assets \u2013 One Times Square in New York\u2019s Midtown, Chelsea Market in NYC\u2019s meatpacking district and the mixed-use Pacific Place in San Francisco \u2013 totaled more than $900 million.<\/p>\n

Chelsea Market went through a $380 million financing deal in August 2011,<\/a> showing the strength of the markets that Jamestown is targeting \u2013 stabilized properties in high-value areas. At the time, Dan Fasulo, managing director of research and consulting firm Real Capital Analytics told Commercial Property Executive <\/em>that \u201clending on Manhattan assets is seen as less risky than other markets and that\u2019s been evident through the downturn,\u201d he said. \u201cOf the troubled assets we had in the country, Manhattan had the highest recovery rate for lenders when there was a default. It\u2019s proven to be rather resilient versus other markets.\u201d<\/p>\n

With its assets, the German-American fund is now searching for properties in additional U.S. metro areas, including Boston and Washington, D.C. The bulk of the financing for Jamestown\u2019s acquisitions have come from pension funds in the United States, Australia and Europe, as well as $60 million from Jamestown senior management.<\/p>\n

Park Hill Real Estate Group L.L.C. served as advisor to Jamestown in connection with the creation of the Premier Property Fund.<\/p>\n","protected":false},"excerpt":{"rendered":"

Capitalizing on the strength of three recent trophy acquisitions, Jamestown has moved into the public phase of its new vehicle Jamestown Premier Property Fund. <\/p>\n","protected":false},"author":1201,"featured_media":1004038237,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21808,21783,21742,10,21747,15],"tags":[],"class_list":["post-1004035568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-featured","category-investment","category-latest","category-northeast","category-office","category-west"],"acf":[],"yoast_head":"\nNearly $1B in Assets Backs Jamestown Fund Launch - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nearly-1b-in-assets-backs-jamestown-fund-launch\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nearly $1B in Assets Backs Jamestown Fund Launch\" \/>\n<meta property=\"og:description\" content=\"Capitalizing on the strength of three recent trophy acquisitions, Jamestown has moved into the public phase of its new vehicle Jamestown Premier Property Fund.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nearly-1b-in-assets-backs-jamestown-fund-launch\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-19T14:24:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T09:52:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/121911-Jamestown-Fund-One-Times-Square-user-Bernt-Rostad.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Nearly $1B in Assets Backs Jamestown Fund Launch\",\"datePublished\":\"2011-12-19T14:24:01+00:00\",\"dateModified\":\"2022-12-09T09:52:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/\"},\"wordCount\":260,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/121911-Jamestown-Fund-One-Times-Square-user-Bernt-Rostad.jpg\",\"articleSection\":[\"Corporate Real Estate\",\"Featured\",\"Investment\",\"News\",\"Northeast\",\"Office\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nearly-1b-in-assets-backs-jamestown-fund-launch\\\/\",\"name\":\"Nearly $1B in Assets Backs Jamestown Fund Launch - 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