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Q1 2021 Quarterly Report

Each quarter, investors receive Jamestown Invest 1, LLC’s reporting. This week, our investors received the quarterly report for the period ending March 31, 2021. The report also includes a letter from our CEO, Matt Bronfman, details our updated net asset value and announces the fund’s first quarterly dividend of $0.075. Below we’ve included a few Fund statistics and corresponding a summary of the highlights in the full report.

Q1 2021 Fund Updates

Increase of quarterly Net Asset Value (NAV) per share

  • Our NAV per share increased by $0.32 over the prior quarter, primarily driven by changes in (a) our real estate valuation of our investment in Southern Dairies and (b) a third-party valuation of our debt on Southern Dairies. Our purchase price will be adjusted to reflect our NAV of $10.32 per share beginning on April 6, 2021.

Stable leasing and rent collections from Southern Dairies @ Ponce City Market

  • As of March 31, 2021, the property is 79% leased to nine tenants with a weighted average remaining lease term of 2.2 years. The property executed a long-term renewal with a 3,500 SF law firm at terms consistent with our business plan. We are actively marketing the existing and near-term vacancies and are seeing an increase in prospective tour activity in Q1 2021. We are actively marketing the existing and near-term vacancies and are seeing an increase in prospective tour activity in Q1 2021.
  • We are pleased to report rent collections of 100% for the first quarter of 2021, and 97% over the full 2020 calendar year, where 3% of annual contract rent was granted as a deferral and expected to be collected in 2021. Our asset management teams have worked closely with tenants impacted by the COVID-19 pandemic to understand their needs and are assisting all tenants in ongoing operational procedures. As of March 2021, eight of the nine tenants had employees working in their space at the property.
Southern Dairies office space

Declaring our first dividend sooner based on recent leasing momentum at Southern Dairies

  • We are pleased to share that Jamestown Invest 1, LLC (the “Fund”) recently announced its first quarterly dividend of $0.075 per share. The distribution is effective for all shareholders of record as of March 31, 2021, and is expected to be paid by April 14. We originally anticipated distributions could commence in the first half of 2022. We have declared our first dividend sooner based on recent leasing at Southern Dairies which has increased cash flow from operations.

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Investing in Jamestown Invest 1, LLC’s common shares is speculative and involves substantial risks. The Risk Factors section of the offering circular contains a detailed discussion of risks that should be considered before you invest. These risks include, but are not limited to, illiquidity, complete loss of invested capital, limited operating history, conflicts of interest, blind pool risk, and any public health emergency. In addition to the foregoing risks, the adverse economic effects of the COVID-19 pandemic are unknown and could materially impact this investment. Further, there is no assurance that Jamestown Invest 1, LLC will be able to achieve its investment objectives or to access targeted investments like those identified.

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Liquidity Not Guaranteed

Because of the illiquid nature of our shares, you should purchase our shares only as a long-term investment and be prepared to hold them for an indefinite period of time.

Investing in Jamestown Invest 1, LLC’s common shares is speculative and involves substantial risks. The “Risk Factors” section of the offering circular contains a detailed discussion of risks that should be considered before you invest. These risks include, but are not limited to, illiquidity, complete loss of invested capital, limited operating history, conflicts of interest, blind pool risk, and any public health emergency. In addition to the foregoing risks, the adverse economic effects of the COVID-19 pandemic are unknown and could materially impact this investment. Further, there is no assurance that Jamestown Invest 1, LLC will be able to achieve its investment objectives or to access targeted investments like those identified. Jamestown Invest 1, LLC is offered through North Capital Private Securities, member FINRA/SIPC.
Information on and photography featuring Jamestown’s current and previous portfolio of projects and properties 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. Further, there is no assurance that Jamestown Invest, 1 LLC will be able to achieve its investment objectives or to access investments like those identified. Prior performance is not indicative of future results.

Jamestown makes no representations, express or implied, regarding the accuracy or completeness of this information, and the reader accepts all risks in relying on the above information for any purpose whatsoever. Any actual transactions described herein are for illustrative purposes only and, unless otherwise stated in the presentation, are presented as of underwriting and may not be indicative of actual performance. Transactions presented may have been selected based on a number of factors such as asset type, geography, or transaction date, among others. Certain information presented or relied upon in this presentation may have been obtained from third-party sources believed to be reliable, however, we do not guarantee the accuracy, completeness or fairness of the information presented.


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.