Frankfurt/Main – US real estate specialist Jamestown has entered into a strategic partnership with the Simon Property Group, a company listed on the New York Stock Exchange in the S&P 100. Simon Property has acquired a 50% interest in Jamestown from founding partners Christoph and Ute Kahl, who will remain shareholders in Jamestown. Christoph Kahl will transition from day-to-day involvement to a role advising Jamestown as a board member.
CMS advised the Jamestown Group and its founding partners on the German side on the sale of 50% of their equity interest to Simon Property. On the US side, King & Spalding LLP advised on and managed the transaction jointly with Jamestown’s in-house legal team. Closing of the deal is scheduled for the end of 2022 and is currently awaiting approval from the regulatory authorities. The size of the deal and other conditions were not disclosed.
Jamestown is a property manager with a track record going back almost 40 years. It has assets under management of USD 13.1 billion (as at 30 June 2022), with properties in key markets throughout the US, Latin America and Europe. Since it was founded in 1983, Jamestown has executed transactions totalling around USD 40 billion.
Simon Property is a leading US developer and manager of premier shopping, dining, entertainment and mixed-use destinations. Simon Property holds 198 properties in the US, Canada, Asia and Europe, and owns 33 premium outlets and designer outlets (as at 30 June 2022). The firm has shopping centres in 14 European countries through its stake in Klépierre, a listed property company based in Paris.
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