Sources: Jamestown Seen Buying 23 Newbury Street Properties for $180M-Plus

BOSTON—An Atlanta-based investment firm has agreed to buy 23 Back Bay retail properties concentrated on Newbury Street, industry sources are telling The Real Reporter. “Yes,” one insider maintains of Jamestown emerging as winning bidder following a spirited competition that will see pricing top $180 million, ahead of the $175 million many had predicted the assets would fetch.

The sellers, a partnership of Taurus Investments and UrbanMeritage, were not immediately available for comment. Further details and insights will be available in this week’s issue of The Real Reporter. A closing date was not immediately clear. The deal reflects continued interest in Boston retail, with Newbury Street having rebounded quickly since the recession hit. “It is global,” one expert says of the boulevard’s cache.