Simon Property Group Buys 50% Stake in RE Investment Firm Jamestown
Posted on 10/16/2022
Simon Property Group, Inc. (SPG) is a U.S. real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. Simon Property Group acquired a 50% ownership stake in a large real-estate investment firm Jamestown. Jamestown is based in Atlanta. SPG is buying the stake from Jamestown’s founding partners Christoph Kahl and Ute Kahl, who will continue to be shareholders of the firm.
Advisors
King & Spalding is serving as a legal advisor for Jamestown, whereas Goldman Sachs is serving as their financial advisor.
Wells Fargo and Latham & Watkins are SPG’s financial and legal advisors respectively.
COVID
Simon Property Group continues to diversify its business after the COVID-19 pandemic crash when all of its malls closed due to lockdown. In 2020, SPG partnered with Brookfield Asset Management to buy department store chains, such as J.C. Penney and Forever 21 out of bankruptcy.