Jamestown has sold its interest in a 318K SF of office, residential and retail portfolio in Georgetown and Alexandria.

The vast majority of the 22-property portfolio is in Georgetown’s high-end retail district, including properties along its iconic M Street.

New York-based Acadia Realty Trust purchased Jamestown's stake in the Georgetown Renaissance portfolio, the seller announced. It didn't disclose the size of the stake or the price.

It is also unclear if there are any other partners left in the portfolio, as Eastbanc was an original partner. Jamestown declined to provide further information on the deal.

Jamestown held a 48% stake in the portfolio as of 2016, GlobeStreet reported.

“Georgetown has undergone a remarkable transformation over the past decade, evolving into a destination for design-driven retail,” Jamestown President Michael Phillips said in a release. “The Georgetown Renaissance Portfolio exemplifies this shift, having become an integral part of the neighborhood's distinctive retail ecosystem.”

The portfolio includes retailers like B&B Italia, Poliform, Lululemon, Patagonia and Design Within Reach, the release said.

The portfolio appears to include two previously separate portfolios that make up the 318K SF footprint — the “Georgetown Portfolio,” in which Acadia had a 50% stake as of the third quarter of last year, and the “Renaissance Portfolio,” which Acadia had a 20% stake in at the end of Q3, according to its Securities and Exchange Commission filing.

Acadia had purchased the 20% stake in the Renaissance portfolio in 2016 for $67.6M, along with the assumption of $20M in debt, its 2016 year-end filing shows. At the time, it was a 211K SF, 17-property portfolio.

Atlanta-based Jamestown is primarily backed by German investors and known for its redevelopment projects. In Georgetown, it owns the 325K SF mixed-use Georgetown Park. It also owns multiple office properties in and around D.C.: the 461K SF America’s Square complex near the Capitol, the 421K SF One Metro Center in the East End and the 776K SF mixed-use Ballston Exchange in Arlington.

At its home base in Atlanta, Jamestown has been active in the acquisition and disposition market over the past six months.

This winter, it offloaded three Atlanta office properties, totaling 235K SF, that it had transformed from warehouses for $76.7M. Jamestown had purchased the buildings in 2019 for $22M. And it announced in August it was under agreement to buy the Atlanta office of North American Properties and a stake in the company’s $2B assets under management portfolio.

Jamestown CEO Matt Bronfman told Bisnow earlier this month he sees the Sun Belt as the best region for investment over the long term due to its population growth outlook.