Jamestown, a global, design-focused real estate investment and management company, representing a group of investors today announced its entry into the Portuguese real estate market with the €98 million acquisition of JQOne, formerly known as Entreposto, a 48,000 square meter office building located in eastern Lisbon between Parque das Nações and the Lisbon International Airport.
“With its high quality of life that marries design, food, and history, Lisbon is well positioned for growth,” said Jamestown president Michael Phillips. “There is a trend of innovative companies across sectors growing in Lisbon that has been reinforced by the Web Summit moving to the city in 2016. We believe the trend will continue given Lisbon’s highly educated, multi-lingual workforce and international accessibility.”
At JQOne, Jamestown intends to enhance the overall tenant experience with improved amenities and more engaging common areas and will explore additional uses throughout the property to create a better environment for tenants and visitors. Jamestown was represented by CBRE in the transaction with legal support from Garrigues and technical support from Arcadis.
The acquisition is part of Jamestown’s ongoing expansion in Europe, which now includes more than €900 million in European assets under management as of July 6, 2021. Earlier this year, Jamestown secured a mandate to manage a portfolio of properties across Europe on behalf of one of its institutional investment partners and co-investors, E.ON Pension Trust, the pension fund for one of the largest German energy companies. In 2020, Jamestown purchased two buildings in Amsterdam and an office asset consisting of three buildings in Cologne, Germany. In 2019, Jamestown purchased the iconic Groot Handelsgebouw in Rotterdam, one of the largest mixed-use buildings in the Netherlands, which currently houses more than 450 businesses.
With more than 38 years of experience in the international market, Jamestown has a long-term ownership and management perspective and is well known in the industry for its market discipline and mission of revitalizing historic spaces and emblematic buildings into mixed-use innovation hubs and community centers. Current and previous large-scale projects include Groot Handelsgebouw in Rotterdam, Chelsea Market and the One Times Square in New York, Industry City in Brooklyn, Ponce City Market in Atlanta, Ghirardelli Square in San Francisco, and the Innovation and Design Building in Boston.
The company aims to extend its presence in Lisbon and expand holdings in Iberia with a particular focus on cities such as Madrid and Barcelona. Continued Phillips: “We see immense opportunity in Portugal and the broader Iberian Coast and plan to be a long-term player in the market.”
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About Jamestown:
Jamestown is a global, design-focused real estate investment and management company with a clear mission to transform spaces into innovation hubs and community centers. Jamestown employs more than 400 people worldwide with headquarters in Atlanta, Georgia, and Cologne, Germany, and offices in Amsterdam, Bogotá, Boston, London, Los Angeles, Madrid, Milan, New York, and San Francisco. Since its founding in 1983, Jamestown has executed transactions in excess of $35 billion. As of March 31, 2021, Jamestown has assets under management of $12.6 billion and a portfolio spanning key markets throughout the U.S., Latin America, and Europe. 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, the Innovation and Design Building in Boston, and Groot Handelsgebouw in Rotterdam. Jamestown also invests in real estate startups and technology businesses that differentiate its properties and enable innovation across its portfolio. For more information, visit www.jamestownlp.com.
