Simon Property Group, a REIT focused on retail, dining, entertainment, and mixed use, announced that it would acquire a 50% interest in global real estate and investment firm Jamestown by the end of the year from the company's founders, Christoph and Ute Kahl, who will continue to be shareholders.
"Jamestown will operate independently and continue to be led by CEO Matt Bronfman and President Michael Phillips, who will retain their existing ownership," the release said. "Christoph will transition from day-to-day involvement as the company's Chairman to a member of the new Jamestown Board of Directors."
The press release from the companies didn't divulge the financial details, but it did note that the 39-year-old Jamestown had more than $13 billion in assets as of June 30, 2022.
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