Power Broker
Michael Jammen
Principal, UrbanMeritage
Boston, MA 02116
Newbury Street's most active Owner/Developer/Broker
Phone (617) 236-7999 x11
Newbury Street's most active Owner/Developer/Broker
Property Types
Hospitality, Office, Retail, Multifamily
Markets
Boston
Bio
As the Principal of UrbanMeritage and one of the architects of the Newbury Line Program, Mr. Jammen has been involved in the acquisition, development, and asset management of the Newbury Line Portfolio since December 2006. During this period, the Newbury Line successfully acquired twenty-eight buildings for a total cost of $155 million across fourteen transactions. Over four years, the Newbury Line became the leading landlord on one of the world’s premier retail streets. In October 2011, the Newbury Line was sold to Jamestown Properties for a total price of $226.5 million.
In April 2013, UrbanMeritage, in partnership with Novaya Real Estate Ventures, launched a new aggregation program focused again on Newbury Street. This $300 million joint venture, with financial support from L&B Realty Advisors, has successfully closed on fifteen buildings to date, with a total acquisition cost of approximately $200 million.
In November 2014, UrbanMeritage and Novaya, along with partner Invesco Real Estate, acquired the retail condominium unit at The Hotel Commonwealth for $38.5 million. The unit is currently being rebranded as Kenmore Row and is being remerchandised and reintroduced to the Boston market.
Mr. Jammen holds a Master's Degree in Real Estate Development from the MIT Center for Real Estate (MIT/CRE) and has twenty-four years of experience in the real estate industry. While at MIT, he co-authored the award-winning thesis "Field$ of Dream$: An Examination of the Effects of Financing Structure on Sports Facility Design and Surrounding Real Estate Values."
He established the Meritage Real Estate Group in 1999 and has held several management positions with Cabot, Cabot & Forbes, Koll Management Services, and Forest City Enterprises. The first company he founded, Meritage Real Estate Advisory LLC (MREA), provided financial analysis, due diligence, project management, and development advisory services to large real estate clients. The MREA client list included Beacon Capital, CBRE, TA Realty, Taurus Investment Holdings, Colliers, and The Drew Company.
Mr. Jammen was significantly involved in developing Channel Center in South Boston, a 1.55 million square foot mixed-use project, the redevelopment of The Newbry (501 Boylston Street), a 700,000 square foot mixed-use project, and The Residences at Manchester Place, a 204-unit multi-family development.
He remains active with the MIT Center for Real Estate as a frequent guest speaker and is a past Chairman of the MIT/CRE Alumni Association. In addition to his degree from MIT, Mr. Jammen holds multiple degrees from Bentley College in Accounting, Economics/Finance, and Management. He is also the Chairman of The Heather Smith Foundation, Inc., a 501(c)(3) charity that has awarded over $200,000 in fellowships to women attending the MIT Center for Real Estate, and he serves on the Board of Directors of the Back Bay Association. Mr. Jammen resides in Boston’s Back Bay neighborhood with his wife and their twins, Michael and Leighton.
Education
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