Jamestown was formed in 1983 as a real estate investment and management company with a focus on high-quality current income-producing properties.

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3 Jamestown was formed in 1983 as a real estate investment and management company with a focus on high-quality current income-producing properties. In 1991, Jamestown expanded its investment profile to include opportunistic real estate funds, targeting the construction, rehabilitation and repositioning of projects with potential for substantial appreciation. Jamestown has focused on conservative investments with proven performance and stable cash flow. 1

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5 Jamestown has expanded from a regional property investor into a national, vertically integrated real estate operator with approximately $7.7 billion of assets under management. JAMESTOWN OVERVIEW Jamestown was established in 1983 as an investment and management company focused on income-producing real estate in the United States. Over the last 31 years, Jamestown has expanded from a regional property investor into a national, vertically integrated real estate operator with approximately $7.7 billion of assets under management. Jamestown s vertical integration comprises in-house capabilities encompassing most real estate disciplines including acquisitions, capital markets, property management, asset management, retail leasing, design, sustainability and risk management. Jamestown employs more than 230 professionals in the United States, with its primary headquarters in Atlanta, GA, and additional offices in New York, NY, Washington, DC, Boston, MA and San Francisco, CA. institutional investors. The related company, Jamestown US Immobilien, has approximately 40 employees based in Cologne, Germany, who are focused on investor relations, fundraising and marketing for European investors. In 2013, Jamestown Latin America was founded to invest in real estate assets in select Latin American markets. With offices in Rio de Janeiro, Bogotá, Atlanta and New York, Jamestown Latin America will oversee joint ventures, using its local market knowledge, in-house research and hands-on asset management experience. All real estate acquisition and asset management activities are coordinated out of the U.S. offices, as well as fundraising, marketing and investor relations for 3

6 In June 2014, Scope reaffirmed the quality of Jamestown as sponsor and manager with an AAA (IMR) rating for its closed end real estate funds. ACQUISITIONS Jamestown strategically focuses primarily on two types of markets: 24-hour metropolitan markets like New York and Washington, DC and Sunbelt markets such as Atlanta, Miami and Charleston. These markets show strong demographic and economic growth, bolstered by the presence of emerging industries such as technology and new media. Jamestown takes full advantage of its integrated platform on each acquisition by engaging all company departments in the evaluation of new opportunities a highly-disciplined, analytical approach to investing that has contributed to great success during previous cycles. Within these markets, Jamestown invests across the risk spectrum, from core to opportunistic. Each year, Jamestown considers hundreds of investments, rejecting most and closing on less than 1% that meet the risk/return requirements of the applicable investment vehicle. ASSET AND PROPERTY MANAGEMENT Unlike many private equity funds that hire third parties to monitor and execute their business plans, Jamestown actively asset manages its entire portfolio in-house. The firm believes that investment management is too important to outsource. Moreover, when Jamestown participates in joint ventures where it is not the dayto-day manager, its experience affords Jamestown the ability to offer insights that facilitate successful management and take on a more involved role when necessary. The Asset Management department maintains a robust team of Asset Managers, Analysts, Project Accountants and a full-time Portfolio Manager. As in all efforts, Jamestown strives for quality in its personnel, hiring and retaining some of the best minds in the industry with low turnover. Traditionally, Jamestown also provides on-the-ground property management for most of its portfolio. Since its inception, Jamestown has managed over 15 million square feet of commercial space. This experience and in-depth knowledge enables Jamestown to add tremendous value to its portfolio and future investments. By staying closer to the real estate asset, management is constantly informed, which allows for nimble and value-maximizing decision making. Strong internal management provides a myriad of other benefits, such as cultivating close tenant relationships and providing tenants with access to expansion or relocation space in multiple markets, all the while maintaining continuity with a single property owner. Jamestown enjoys excellent relationships with prestigious companies, such as Google, Scripps/ Food Network, Major League Baseball, Anthropologie, Williams-Sonoma and J.Crew. 4

7 GENERAL MOTORS BUILDING Jamestown, with Macklowe Properties, collaborated to reposition the General Motors Building in New York. Most notably, they constructed a Jewel Box retail space on Fifth Avenue in connection with a long-term lease with Apple. In addition, Jamestown completed extensive interior and exterior renovations, including a new lobby. 5

8 The Creative & Marketing department s goal is to give Jamestown an essential advantage by adding value to assets and maximizing its position in the market. Jamestown operates at the intersection of qualitative consideration and value creation. Vertically integrated disciplines that span Development, Construction, Creative, Marketing, Branding and Leasing ensure maximized potential for each investment and enhanced positioning for assets across the portfolio. REALTY The Realty department works to develop merchandising plans that maximize each asset s retail positioning from both landlord and tenant perspectives, incubating innovative retail concepts and sourcing appropriate tenants. In the effort to capture substantial quality and value in Jamestown s retail assets through leasing, the Realty department conducts retail market analysis, advises on leasing economics, commissions consumer research and develops and implements the merchandising strategy. It is the team s primary responsibility to craft the retail story and then communicate this to brokers and retail brands. Realty also works with the Development, Construction and Creative & Marketing departments on space configurations, storefront presentations, lease transactions, continuous placemaking and product development. CREATIVE & MARKETING The Creative & Marketing department approaches assets from a brand perspective by developing and implementing distinctive property positioning, designing and producing compelling collateral, activating properties through innovative event programming, reconfiguring community spaces and collaborating with public entities including business improvement districts and neighborhood focused partnerships. The Creative & Marketing team creates and clearly communicates a unifed brand and experience that will stand the test of time for each asset. Various components of creative and marketing work include overall branding, graphic design, architectural direction and vision, public relations, photography, advertising, collateral design (digital + print), social media, events, creative planning and budgeting. The end result of this creative and collaborative process is a distinctive, compelling and thorough brand for each asset - one that is activated through exceptional programming and differentiates Jamestown from the competition, while also creating value for each individual property. 6

9 CHELSEA MARKET With over 1.2 million square feet of office and retail space, Chelsea Market is a unique mixed-use office and retail property located in New York s lively Meatpacking District. The project is situated adjacent to the High Line, a former elevated freight railroad which has been redesigned as a world-renowned elevated urban park, offering Chelsea Market s guests access to an integrated landscape of green pathways. In an effort to fully realize the site s potential and Jamestown s investment, the company recently obtained additional development rights to maximize the asset s value. 7

10 1250 BROADWAY 1250 Broadway is helping to lead the charge toward sustainability in New York City. In 2011, the project became the first LEED EB:O&M Gold certified project in in the city, a monumental achievement that put a stake in the ground for green initiatives in Midtown Manhattan. As part of this effort, Jamestown has committed to various LEED programs, including energy savings through lighting retrofits and occupancy sensors and a 35% reduction in overall water usage (more than 5 million gallons annually). These programs complement Jamestown s ongoing repositioning efforts at the 770,000 square-foot property, which include lobby and penthouse level renovations and overall building improvements. 8

11 The US Green Building Council (USGBC) estimates that by 2015, 40-48% of new nonresidential construction by value will be green, equating to a $ billion opportunity. DEVELOPMENT Jamestown Development is focused on building authentic urban spaces walkable communities throughout the U.S. that blend old and new elements seamlessly together to create memorable places. Maintaining offices in New York, San Francisco, Boston and Atlanta, the department is led by real estate professionals who are well versed in a range of services and product types including mixed-use community development, single and multi-family residential, high density office and retail repositioning, adaptive reuse and post-industrial brownfield redevelopment, all while maintaining a clear focus on sustainable best practices. CONSTRUCTION The Construction department is dedicated to the support of all construction improvement efforts throughout the Jamestown portfolio. It is staffed by construction specialists who are well versed in a range of services, including residential and mixeduse community development, high-density office and retail repositioning, post-industrial brownfield site redevelopment, construction project oversight and management, cost estimation and project feasibility assessment. The Construction department continues to provide unparalleled service under the simple philosophy that attention to detail, meticulous project planning and firm but fair cost management are the keys to successful construction implementation throughout Jamestown s wide litany of asset types. JAMESTOWN GREEN Sustainability is integrated throughout the company with Jamestown Green providing overall program management. The department sets targets for the company and individual properties, working to reduce utility costs and the environmental impact of the buildings in the firm s portfolio. Jamestown Green institutionalizes best management practices in sustainability by benchmarking energy, water, waste and carbon footprint data for asset and facility mangers. Leveraging over ten years of internal sustainable development experience, Jamestown Green assists Acquisitions and Asset Management in the identification and implementation of energy, water and waste savings projects as well as Energy Star and LEED certification services. JAMESTOWN CHARITABLE FOUNDATION The Jamestown Charitable Foundation supports nonprofits that make our cities more desirable places to live and work. The company provides funds for the Foundation and also raises money annually through events in partnership with the communities in which we operate. The Foundation s areas of focus are sustainable and local food movements, parks and greenspace, alternative transportation, and design and culture. Through our German sister company, Jamestown US- Immobilien GmbH, we have financed the construction of an SOS Children s Village for 150 children the Dominican Republic in 1999 and have supported its annual upkeep ever since with contributions totaling $6.5MM. 9

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13 The Jamestown Charitable Foundation is a 501(c)(3) public charity that focuses on sustainable and local food movements, parks and greenspace, alternative transportation, and design and culture. JAMESTOWN INVESTOR TAX SERVICES The Tax Services department performs tax and reporting services for all of Jamestown s 100% owned assets and most joint ventured assets. The department specializes in unique tax issues confronted by joint ventures and funds employing foreign capital within the U.S. In addition, the Tax Services department provides annual federal and state tax returns for more than 25,000 active German retail investors. JAMESTOWN INVESTOR RELATIONS CAPITAL MARKETS Jamestown s dedicated capital markets professionals evaluate the existing and proposed capital structure of each investment and work with fund management to recommend the appropriate capital structure for an investment, taking into account the business plan for each asset. The capital markets team tracks financing rates and maintains international lending relationships to provide access to the most favorable loan pricing and terms. It is not enough to produce good results. Jamestown believes it is imperative to communicate effectively and transparently with its investors. Jamestown investors receive detailed information on the performance of their investments several times each year. 11

14 Significant assets Jamestown has acquired ownership in and sold include 111 Eighth Avenue, 530 5th Avenue, General Motors Building, 1211 Avenue of the Americas and 620 Avenue of the Americas in New York; 400 Post Street and 22 Fourth in San Francisco; One Federal Street and 125 High Street in Boston; and the Ritz Carlton in Key Biscayne. RISK MANAGEMENT Jamestown Casualty was formed to gain direct access to the reinsurance market so that the portfolio could obtain more affordable and comprehensive coverages with lower deductibles. For example, Jamestown has been able to achieve coverages against terrorism risks that are more extensive than the competition. Such terrorism coverage is particularly important given some of the iconic assets in the portfolio, such as One Times Square and Chelsea Market. Jamestown s Risk Management department works directly with reinsurance and insurance companies to achieve the best terms possible, directly adding value and minimizing risk for the portfolio. Ratings and other information contained herein are not indicative of Jamestown s future performance. 12

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16 North American Headquarters Ponce City Market 675 Ponce de Leon Avenue 7th Floor Atlanta, Georgia USA (770) European Headquarters Marienburger Straße 17 D Cologne Germany 0221 /