Bronfman's Blockbusters
Backed by a big German retail fund, Atlanta-based Jamestown Properties is buying and repositioning some of the finest retail and creative office in seven US gateway cities, including DC, where it's made big moves recently. That's why we're thrilled that its CEO Matt Bronfman will be speaking at Bisnow's 5th Annual Washington Real Estate Summit on May 7 at the Wardman Park.
The Kansas City native moved to his wife's hometown of Atlanta after Northwestern law school for a stint at Holland & Knight, then joined Jamestown there 16 years ago and became CEO in 2012. Yesterday he told us he'd originally given his wife the idea he'd do the real estate thing for just a couple years 'til a down cycle. So don't tell her he's still at it.
Among multiple properties Jamestown owns in New York is the iconic and hopping Chelsea Market at the High Line. And they have an even more famous property nearby: One Times Square, where the ball drops at midnight every January 1, to Carson Daly's delight.
In San Francisco, they own landmark Ghirardelli Square, near Fisherman's Wharf. Surely you've OD'd on chocolate there.
In LA, they recently picked up the Lantana entertainment complex in Santa Monica, which Larry David addicts will recognize as the place he works (in TV and real life).
And in DC, they own 421k SF One Metro Center in the East End…
… 733 10th, also in the East End…
… the venerable Madison Office Building on 15th (having sold the adjoining Madison Hotel to Loews)...
… and 17 premier retail properties of 300k SF in Georgetown and Alexandria. In Atlanta, Jamestown is underway with the high-profile, 1.2M SF Ponce City Market; in Boston it has substantial holdings on glam Newbury Street in Back Bay and in the Seaport District; and in Florida, properties in Miami and Sunny Isles. Matt tells us his mission is to find core-plus assets that are "non-commodity," either because they buy them that way, or they add value. He says Jamestown sees them as the best opportunity for rent growth, targeting 9% to 12% IRR. Come join us and hear Matt, Brookfield US Office CEO Mitch Rudin, BET founder Bob Johnson, and many other top players on May 7 at the Bisnow 5th Annual Washington Real Estate Summit. More info.
