Jamestown Takes Stake in Atlanta’s Inman Quarter

Jamestown’s latest investment move in Atlanta gives it a minority stake in a key mixed-use development.

The firm acquired a stake in Inman Quarter, which anchors Inman Park, from TriBridge Residential, the Atlanta Business Chronicle reported.

The 208,000-square-foot development includes 200 apartments and 40,000 square feet of retail, with restaurants like BeetleCat, MF Sushi and Bread & Butterfly.

Terms of the deal were not disclosed, but the transaction establishes a joint venture with TriBridge, which purchased Inman Quarter for $72.5 million in 2015 alongside Coro Realty Advisors. Coro later sold its stake, leaving TriBridge as the sole owner. At that time, the apartments were 90 percent leased, and the retail was about 85 percent occupied.

A block from the Atlanta Beltline’s Eastside Trail, Inman quarter has become a popular destination, drawing about 500,000 visitors annually, according to Jamestown, citing property software company Placer.ai.

Jamestown, the firm behind major projects like Ponce City Market and Colony Square, plans to lease out vacant retail spaces and to program events to activate its courtyard.

Atlanta’s retail market is booming, with a record-low vacancy rate of 3.4 percent, according to Colliers.

Developed by JPX Works and South City Partners, Inman Quarter opened over a decade ago, coinciding with the early growth of the Beltline’s Eastside Trail and rising demand for walkable, urban living.

The investment reflects a broader strategy in Atlanta, where investors are targeting intown districts for redevelopment.

Recent deals include Canvas Company’s $6.6 million acquisition of a 17-space portfolio in East Atlanta Village last month and Third & Urban’s $13.75 million acquisition of more than 35,000 square feet at the Virginia-Highlands retail district in December. That deal pencils out to $393 per square foot.

Meanwhile, New City Properties is advancing its redevelopment of the Neuhoff meat-packing plant site, backed by $550 million from JPMorgan and Cousins Properties, adding apartments, office and retail space as part of a significant mixed-use project.

Jamestown has been expanding its footprint in Atlanta. Most recently in August, it acquired the local office of North American Properties, taking on assets like Colony Square, The Forum Peachtree Corners and Avenue East Cobb.

— Judah Duke