WASHINGTON, DC-Jamestown, a real estate investment and management firm in Atlanta, is acquiring a stake in a collection of mixed-use buildings in Georgetown that are co-owned by local company EastBanc. The portfolio is 306,000-square feet and includes street-front retail in this tony part of town. Senior executives at Jamestown were unavailable for a call with GlobeSt.com and EastBanc did not return a call in time for publication.

The company’s announcement did not include details about the size of its stake, purchase price or which co-owner it bought out. In 2004, Prudential Real Estate Investors’ TMW Property Funds, also an Atlanta-based company, acquired a 48% stake in the portfolio. PREI, the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE: PRU), was not able to comment to GlobeSt.com in time for publication.

In a prepared statement, however, Matt Bronfman, Jamestown managing director and chief operations officer, noted that "Jamestown is very active in identifying and securing relationships with best-in-class developers." And indeed, the company has made its mark in the city’s commercial real estate, acquiring at the beginning of the year the iconic Madison Hotel for $123 million.

Jamestown plans to invest an additional $20 million into the 353-key, 13-suite hotel. Beyond that investment, the company is looking at other opportunities in the DC area, having just opened an office here at the start of the year, Michael Phillips, managing director for Jamestown and president of Jamestown Realty Co., told GlobeSt.com at the time. Potential acquisitions would include core and core plus transactions, as well as value-add such as the Madison, he said.