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Goldman and Soros to Form Realty Fund

June 03, 1997|From Bloomberg News

NEW YORK — Goldman, Sachs & Co.'s Whitehall Fund, George Soros and his Quantum Realty Fund Ltd. and a group of German investors have agreed to invest $300 million to form a new real estate fund, managed by Millennium Partners.

"The money is intended for the next round of Millennium projects," said Chris Jeffries, the firm's president. The five or six projects planned will equal about $1.25 billion to $1.5 billion in real estate development, he said.

Millennium Partners, a New York-based real estate development firm founded in 1990, builds what Jeffries calls urban living entertainment centers.

Its project on New York's Westside includes condominiums, rental apartments, transient housing, a Sony theater, a Barnes & Noble bookstore and a Reebok health club.

Millennium also was recently named one of five finalists in the competition to redevelop the New York Coliseum, a project it has submitted jointly with Whitehall Street Real Estate Limited Partnership, Vornado Reality Trust and Starwood Capital Group.

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