Jamestown's new real estate fund, Jamestown 25, will seek to syndicate $431 million of investments—the largest-ever syndication by a German closed-end fund that buys U.S. properties

Real Estate Alert, Feb 18, 2004

Jamestown's new real estate fund, Jamestown 25, will seek to syndicate $431 million of investments--the largest-ever syndication by a German closed-end fund that buys U.S. properties. The effort will likely begin next month, after Jamestown closes on its purchases of Pacific Place, a mixed-use property in San Francisco, and a 70% stake in the office building at 111 Eighth Avenue in New York.

Earlier, Jamestown bought the IBM office campus in Atlanta and a 60% stake in the Ritz-Carlton Key Biscayne in South Florida. Jamestown plans to offer German, Dutch and U.S. investors an initial annual yield of 7.25%. The minimum investment is $30,000.