Newport on the Levee will soon be under new ownership, likely by the end of 2024.
Jamestown, a global real estate investment firm, announced on Tuesday that it’s in the process of acquiring the Atlanta subsidiary of Cincinnati-based North American Properties (NAP), according to a press release on Tuesday.
Jamestown, a global real estate investment firm, announced on Tuesday that it’s in the process of acquiring the Atlanta subsidiary of Cincinnati-based North American Properties (NAP), according to a press release on Tuesday.
The Atlanta subsidiary is an owner and operator of mixed-use properties in suburban markets, including Newport on the Levee.
“Our goal is to be the best mixed-use investor and operator globally, focusing on creating innovation hubs and community centers,” said Matt Bronfman, Jamestown’s CEO, in the press release. “As part of the firm’s next chapter, Jamestown plans to continue to scale its vertically integrated platform and mixed-use expertise to more markets. This acquisition advances our goal and is a major step toward realizing our long-term vision for the future.”
Once the acquisition is complete, the Atlanta-based subsidiary of NAP, including its employees, will operate under the Jamestown name.
NAP will continue to own real estate through its other affiliates and invest in the platform’s six owned assets.
According to Britni Johnson, NAP’s director of public relations, NAP will continue to be an investor at Newport on the Levee alongside Jamestown. NAP is not selling the property outright, she said in an email to CityBeat.
“Since we founded the Atlanta office 28 years ago, the team has built a great platform for the communities and partners it serves,” said Tom Williams, CEO of North American Properties. “Finding a like-minded partner in Jamestown is a great outcome for our people, and we look forward to continuing to invest in real estate alongside them.”
