Real estate investment manager Jamestown has bought two industrial buildings in Amsterdam and has also been awarded a new mandate to manage a portfolio of properties across Europe on behalf of the E.ON Pension Trust.
The properties were acquired in partnership with the pension fund for German energy giant E.ON and RAG-Stiftung for an undisclosed amount.
The acquired assets, located in Schinkel, include the A-Factorij building, previously owned by E.ON Pension Trust and home to one of Jamestown’s European offices, and Helicopterstraat, a property previously owned by Gerose and comprised of four buildings.
Jamestown said it will provide asset management services for a portfolio of properties owned by E.ON Pension Trust in Italy, the Netherlands, Portugal, Spain, and the UK. The properties Jamestown will manage include a mix of shopping centres, office buildings, and mixed-use developments.
Jamestown’s president Michael Phillips said after entering the European market just over a year ago, Jamestown has grown its platform with $1bn in assets under management and a real estate team headquartered in Cologne, Germany and offices in Amsterdam, London, and Madrid.
“We continue to see many opportunities for future growth. Our vertically integrated team structure is at the root of our value-add asset management strategy enabling us to create innovative spaces while simultaneously preserving cities’ industrial pasts.
“As our European footprint expands, we will continue to focus on sustainable, adaptive reuse projects that bring new life to local communities.”
Udo Schaffer, vice president and head of real estate at E.ON, said: “We have known Jamestown for a long time and they have been a great partner to us in the US.
“Jamestown is one of our preferred global partners given their active approach to asset management and focus on creative and out-of-the-box thinking. After several co-investments with Jamestown in Europe, we now look forward to working with them on the E.ON Pension Trust separate account portfolio.”
A previous version of this article incorrectly stated that the acquisition of the two industrial buildings is part of a new mandate to manage a portfolio of properties across Europe on behalf of E.ON Pension Trust. The acquisition of the buildings is separate from the management of assets on behalf of E.ON.
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