Goldman, Sachs & Co. and two other investors will make a $300 million capital infusion into Millennium Partners, a privately held real estate development firm in New York, Millennium said Monday.
Goldman will make the investment through the Whitehall Fund, its private real estate investment fund. The two other investors are George Soros' Quantum Realty Fund Limited and a consortium of German insurance companies.
The investments will enable Millennium to complete more than $1 billion of real estate development through Millennium Partners LLC, a new real estate development fund.
Separately, Lazard Freres & Co. said Monday it would make a "strategic investment" in Alexander Haagen Properties Inc., a self-managed real estate investment trust based in Manhattan Beach, Calif.
Lazard Freres Real Estate Investors LLC has committed itself to buy $235 million worth of Haagen's common stock during two years through its LF Strategic Realty Investors LP, a $1 billion fund.
Upon completion of the transaction, Lazard's realty arm will own an equity interest of 38% in the REIT, on a fully diluted basis, and will elect four representatives to a restructured 10-member board of directors.