Adams To Lead Jamestown's New Fund

ATLANTA-Jamestown has created a new opportunity fund and has named Clay Adams as director of acquisitions and chief investment officer of the fund.

Adams will begin working for Jamestown in mid-May. He previously served as director of acquisitions covering the US and Canada at WestWind Capital Partners. While at WestWind, he completed $1.4 billion of acquisitions and dispositions.

Matt Bronfman, Jamestown managing director, tells GlobeSt.com that the new fund reflects a shift in investment strategy for the company. Rather than focusing on the acquisition of core assets, which the company has done over the past five to six years, the company will seek opportunistic investments. It will seek investments of any property type across the country, but will focus on the Southeast. The objective of the fund is investments that will yield mid- to high-teens returns. The fund has already completed three transactions, but is considering other investments. “Right now we think core assets are at a high value. On a risk-adjusted basis, we believe that opportunistic investments provide a better opportunity.”