Jamestown and Related form JV

Jamestown has sold a 50 percent stake in Boston’s Innovation and Design Building (IDB) to Related Fund Management; marking the city’s second-largest commercial real estate transaction of the year. With a new joint venture, Jamestown and Related Fund Management, will leverage their shared experience to build on the continued success of the IDB and grow the building’s tenant base with new lab and office spaces.

“When Jamestown first acquired the building, we saw the potential for a new creative hub in Boston’s Seaport District,” said Michael Phillips, president of Jamestown. “Now, seven years later, the IDB is home to a long list of cutting-edge companies, makers and thinkers. We look forward to our new partnership with Related and leveraging our shared experiences to embark on the third phase of the property’s transformation, further expanding the ecosystem of interconnected businesses within the IDB.”

Jamestown purchased the IDB in 2013 and has since