Connect CRE reports that Jamestown has recently sold its stake in The Georgetown Renaissance Portfolio, a collection of retail and residential properties, to co-owner Acadia Realty Trust. This portfolio spans over 318,000 square feet and includes 22 buildings located in the popular neighborhoods of Georgetown in Washington D.C. and Alexandria in Virginia.
The diverse portfolio features a mix of retail spaces, boutique offices, and apartments. Jamestown initially acquired its stake back in 2011 when it recognized the potential for growth within this area. According to Michael Phillips, President of Jamestown: “Georgetown has experienced an incredible transformation over the past decade as it has become known for its design-focused retail offerings.” He also noted that The Georgetown Renaissance Portfolio is a prime example of this shift as it has become an integral part of the neighborhood’s unique shopping scene.
Jamestown currently owns several other properties within this region including neighboring property Georgetown Park – a mixed-use development spanning over 325,000 square feet. Other notable properties include America’s Square – two office buildings near Capitol Hill; One Metro Center – an office building located on East End; The Ellington – luxury residential apartments; and Ballston Exchange- another mixed-use complex featuring both office space and retail options situated in Arlington.
In conclusion Connect CRE reported on recent news regarding Jamestown selling their shareholdings at one location which was named after them called “The Georgian Portofolio” which is based out DC with more than three hundred thousand sq ft spread across twenty-two different locations throughout Washington D.C.’s famous neighborhood known as George Town along with Alexandria VA .
