Welcome To Millennium Partners
About Millennium Partners
In America's great gateway cities, for more than two decades, Millennium Partners has created an unparalleled portfolio of core, urban, mixed-use properties. Attracting buyers with the perfect balance of location and amenities, Millennium properties immerse residents in their city's most distinctive experiences and in the process, transform entire neighborhoods.
The New Urbanism
Each Millennium property is unique in character and design—luxurious residential environments surrounded by beautiful places to work, work out, shop and be entertained.
By taking locations others viewed as ordinary and making them extraordinary, Millennium Partners has pioneered the "new urbanism", a development model that's redefining the entire industry. Millennium properties are not just places to live in the city, they are new ways to live in the city.
A History of Visionary Luxury Living
Millennium Partners has developed more than 2,900 luxury condominiums, eight five-star hotels, two extended-stay luxury hotels, 1,200,000 square feet of office space, 1,000,000 square feet of retail space, 3,750 parking spaces, five Loews Cineplex theaters and five magnificent health clubs. Today, Millennium Partners owns and operates an impressive portfolio worth over $4 billion.
Christopher M. Jeffries
Christopher M. Jeffries founded Millennium Partners in 1991 to pioneer a new concept in mixed-use, urban living and entertainment centers. Together with partners Philip E. Aarons and Philip H. Lovett, Jeffries developed Lincoln Square, a four-building development adjacent to Lincoln Center, as the prototype of this concept.
In 1997, Mr. Jeffries set his sights on key gateway cities across the United States, focusing on developing luxury condominiums, five-star hotels, a sports club facility and retail as part of landmark mixed-use developments. Recognizing the value and services that a leading hotel brand can bring to condominium development, he chose two of the world's most prestigious hotel operators, The Ritz-Carlton Hotel Company LLC and Four Seasons Hotels & Resorts, to be his partners in introducing the next generation of Millennium properties.
With these projects, Jeffries created a new investment vehicle to provide equity capital. The resulting financial structure included a consortium of German financial institutions including ERGO, Provinzial Wuerttembergische, AXA Colonia Immobilien AG, Energie Baden Wuerttemberg AG, as well as Goldman Sachs' Whitehall Fund and George Soros and his Quantum Realty Fund Limited.
Mr. Jeffries gained most of his New York real estate experience as a partner with Aarons at General Atlantic Realty Corporation, founded in 1984 to pursue residential development opportunities in emerging neighborhoods.
Prior to that, Mr. Jeffries was a principal in the leveraged buyout of Key International, Inc., a major metal recycling and automotive equipment manufacturing business in the Midwest. He was previously a partner in the Southfield, Michigan law firm of Keywell & Rosenfeld.
Mr. Jeffries is a graduate of Columbia College and the University of Michigan Law School.
Philip E. Aarons
In 1991, Philip Aarons formed Millennium Partners with Christopher Jeffries to develop the $275 million first-phase of the major West Side development that would become Lincoln Square. The company has completed major mixed-use developments in New York, Boston, Washington DC, San Francisco and Miami at a cost in excess of $4 billion.
Mr. Aarons began his career as an associate at a major New York City law firm where he concentrated in real estate transactions and finance. In early 1978, he joined the Administration of Edward I. Koch as Assistant to the Mayor.
In mid 1979, Mr. Aarons was named President of the NYC Public Development Corporation, a position he held through 1983. Under his leadership, the company grew to become the City's lead development agency, overseeing projects including the South Street Seaport, the Marriott Marquis Hotel, the Joyce Theatre, and the Carnegie Hall Restoration.
In late 1983, Mr. Aarons moved from public service and became President of General Atlantic Realty Corporation, the real estate subsidiary of General Atlantic, a privately held investment firm. In partnership with Christopher M. Jeffries, Mr. Aarons was a pioneer in the construction of low-income housing, financed through its linkage to luxury housing, building over 1,000 units of affordable housing throughout the City.
Today, Mr. Aarons is active on the numerous boards. He graduated from Columbia College in 1973, where he majored in art history and the Columbia University School of Law in 1976 where he was an Editor of the Law Review.
Philip H. Lovett
Philip H. Lovett is a principal of Millennium Partners. Mr. Lovett is the partner responsible for directing and managing the day-to-day operations and development activities.
Lovett formed Millennium Partners with Christopher M. Jeffries and Philip E. Aarons in 1991, to undertake the development of the Lincoln Square project.
Lovett is a graduate of the Harvard Graduate School of Business Administration. He also holds a degree in economics from Harvard College, from which he graduated magna cum laude.
Steven L. Hoffman
Steven L. Hoffman joined Millennium Partners in 1994 to assist in the development of mixed-use, urban entertainment and living centers in major U.S. markets.
Mr. Hoffman's primary role with Millennium Partners is to analyze potential site acquisitions, negotiate leases and joint venture agreements with Millennium Partners' equity investors and corporate tenants and arrange financing for the company's developments.
Mr. Hoffman gained most of his real estate experience as owner and president of his own real estate consulting firm, which provided financial and tax consulting services to developers.
Prior to that, Mr. Hoffman was a senior manager in charge of Price Waterhouse's New York real estate tax practice.
Mr. Hoffman is a graduate of the State University of New York at Albany and is a Certified Public Accountant.
Pamela Malkani is responsible for all Asset Management functions related to Millennium’s high-end luxury hotel properties, a function which she has overseen since 2001. As head of the Hotel Group for Millennium Partners, Ms. Malkani is the company's chief liaison and strategist working with ownership, equity partners, brands and third party management companies.
A senior lodging industry executive with 35 years of experience, Ms. Malkani joined Millennium in 1996 to help the developer implement a unique hotel business strategy. Her initial focus was the successful introduction of The Phillips Club; the company’s extended-stay lodging and fractional membership residence in Manhattan, opened in 1997. Across from Lincoln Center, the 180-room Phillips Club has become one of the nation’s premier residential fractional club/hotels.
Between 2001 and 2003 Ms. Malkani oversaw and coordinated the opening of six new mixed-use luxury hotels for Millennium Partners that included four Ritz Carlton and two Four Seasons Hotels. In addition to Ritz Carlton, the Four Seasons and the Phillips Club brands, her team currently asset manages brands including Starwood’s St. Regis, Westin, Sheraton and the Luxury Collection and Marriott’s Renaissance brand.
Prior to joining Millennium Partners, Ms. Malkani spent five years as Director of Sales and Marketing for the U.N. Plaza-Park Hyatt Hotel in Manhattan (1991-1996). From 1983-1991 she worked at the 2200-room New York Hilton Towers, her last position was Director of Marketing.
A native of Bombay, India, Ms. Malkani came to the U.S. in 1983, having previously served as Director of Sales Marketing for the Fariyas Hotels Resorts in Bombay, as well as Catering Sales Manager for the renowned Taj Mahal Intercontinental in Bombay. She is a graduate of the Institute of Hotel Management and Catering Technology Applied Nutrition in Bombay, India.
Mario J. Palumbo Jr.
Mr. Palumbo is the managing partner responsible for directing and managing the day-to-day operations of Millennium Partners. In addition, he oversees Millennium Partner's largest investment vehicle- the Completed Asset Fund, with over $2.75 Billion in assets. The portfolio contains Millennium's office, retail, theater, extended-stay and parking assets throughout the country.
Mr. Palumbo joined Millennium Partners in 1997. He initially oversaw the development of Millennium's mixed-use Ritz-Carlton developments in Washington, DC, Georgetown and Battery Park City in lower Manhattan.
Mr. Palumbo received his JD from the Stanford Law School and his MBA from the Stanford Graduate School of Business. He holds an undergraduate degree in economics from Princeton University, from which he graduated summa cum laude. He attended Phillips Exeter Academy for high school. Mr. Palumbo is co-chair of the board of The Friends of the High Line and a member of the Board of Governors of the Real Estate Board of New York Board.
Richard G. Baumert
As managing partner, Richard G. Baumert is active in all aspects of residential development, with primary responsibility for development, design, programming, marketing, sales and operations in Boston. Mr. Baumert is considered an industry innovator, responsible for creating and implementing the signature luxury residential experience Millennium Boston delivers to every unit owner.
Mr. Baumert currently leads the marketing, sales and operations efforts for Millennium Tower Boston, the tallest residential property in downtown Boston. There, Mr. Baumert is the force behind FLX, a first-of-its-kind luxury wellness brand that combines fitness, salon and spa services in a private, residents-only setting. Mr. Baumert also launched Mina at the Tower, the industry’s first residents-only dining program and PABU, the first restaurant from acclaimed chef Michael Mina to open in New England.
Prior to developing Millennium Tower, Mr. Baumert oversaw the 2014 opening of Millennium Place, the fastest selling urban luxury property in modern Boston history. Foreseeing that the downtown core was on the cusp of a new era of transformation, Mr. Baumert built on the success of Millennium Place to deliver an evolved, expanded suite of “firsts” and strategic partnerships to Millennium Tower, now heralded as the future of urban luxury living in Boston.
Both Millennium Place and Millennium Tower feature Mr. Baumert’s signature La Vie program, a proprietary monthly calendar that connects residents to Boston’s most exclusive art, culture, food, wine and fitness events.
Mr. Baumert joined the Millennium team in 2001 as Project and Asset Manager for the company’s pre-opening hotel operations for its Ritz-Carlton and Four Seasons hotel projects. He holds a Bachelor of Arts degree from Buffalo State College and a Master of Arts degree from The Ohio State University.