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Portfolio Update: August 2021

At Jamestown, we share a mission to create innovation hubs and community centers at our commercial real estate properties.

Once a month, Portfolio News will highlight the people and experiences that make Jamestown real estate properties more than just amazing spaces. Portfolio News posts will explore items of interest in the areas of Innovation, Growth, Sustainability, and Community; these four pillars inform the value-add work we do every day as a real estate investment and management firm. Each of the properties listed here are not owned by or targets for Jamestown Invest 1, LLC. They are not representative of Jamestown Invest 1, LLC’s investment strategy and are not representative of the scale of investments that Jamestown Invest 1, LLC intends to make. This monthly digest is intended to give readers of Real Estate 360 a better understanding of Jamestown’s approach and tenant successes, which all contribute to company culture.

INNOVATION

The Innovation and Design Building tenant Autodesk welcomed Boston Dynamics' autonomous dog-like robot Spot for a visit at its office and Technology Centers. The two companies have been collaborating for a few years and share the goal of driving innovation using robotics.

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GROWTH

Village Supply by HERMARKET held its grand opening event at Buckhead Village District with live music, lite bites, cocktails, and featured vendors. The reimagined Village Supply by HERMARKET, co-founded by Kia Perry and Jazlin Pitts, will provide opportunities for women-owned brands to sell, connect, and be discovered in an established retail environment.

HERMARKET


SUSTAINABILITY

Onvation is a smart restroom integration for enhanced janitorial labor productivity, waste minimization, and supply cost reduction. The Ponce City Market team won an internal Value Creation Competition and was able to save $42k/year and solidify ~$690k of value creation at the asset.

Onvation


COMMUNITY

Chelsea Market sponsored the Meatpacking BID’s Sweat Sessions, a fun, al fresco fitness series in Hudson River’s 14th Street Park. The event consisted of free 45-minute classes of various modalities, including yoga, sculpt + tone, and boxing. All classes were taught by Mirror Trainers, and participants received a coupon for a free Açaí Bowl from Daily Goods’ Chelsea Market location.

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The NPI is a quarterly, composite total return for private commercial real estate properties located in the United States. The NPI includes operating office, retail, industrial, apartment, or hotel properties accounted for on a market value basis and includes the impact of leverage employed on the properties in the index. The NPI Levered Index is illustrative of historical average annualized commercial real estate returns on a gross property level leveraged basis, and these historical returns may not be indicative of future results. Leverage adds additional risks because leverage providers generally get paid first and may have a full or partial recourse claim against a portfolio. Such real estate return data should not be used to estimate returns of Jamestown Invest investments. While Jamestown Invest 1, LLC may acquire properties that meet some of the NPI criteria, it may acquire properties that do not meet such criteria. Further, Jamestown Invest property returns may have a better or worse average annualized return performance compared to the index as each real estate investment is unique in nature, which is inherently problematic for benchmarking to the composite returns of a highly diversified index.