About Millennium Partners
About Millennium Partners
In America’s key gateway cities, Millennium Partners has created an unparalleled portfolio of mixed-use properties that includes five-star hotels, luxury residences, state-of-the-art entertainment complexes, world-class spa and fitness facilities and class-A office space.
Creating Luxury Residential Experiences
Each property is unique in character and design—luxurious residential environments surrounded by beautiful places to work, shop, exercise and be entertained. The result is a collection of assets beyond compare.
With a cutting-edge development strategy, Millennium Partners selects sites others view as ordinary and makes them extraordinary, on a scale that transforms entire cities and changes the way residents connect with the city around them.
Driving the New Urbanism
Carefully selecting the appropriate components for each location, Millennium has completed dramatic developments in some of the nation’s most dynamic neighborhoods: New York’s Central Park South, Battery Park and Lincoln Square; San Francisco’s South of Market area; Boston’s Back Bay and Boston Common; Washington’s Foggy Bottom and Georgetown neighborhoods; and Miami’s Brickell Avenue.
In the process of fulfilling an unrecognized market need, Millennium Partners has turned overlooked areas into destination neighborhoods and created a financial formula that has become the paradigm of an entire industry. Millennium Partners has not only reinvigorated the skylines of America’s most desirable cities, it has invented a new way for people to live in the city, in a luxury residence that becomes the axis around which their entire urban experience revolves.
A History of Excellence
Millennium Partners has developed over 2,000 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, four Loews Cineplex theaters and six 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 responsible for Millennium Partner's commercial assets. The $2 billion real estate portfolio contains Millennium's office, retail, sports club, theater, extended-stay and parking assets throughout the country. Mr. Palumbo is also responsible for Millennium's investments in the luxury fitness business, which currently consists of seven clubs operating under The Sports Club/LA brand name and managed by Millennium's Boston-based subsidiary, Millennium Partners Sports Club Management.
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 serves on multiple non-profit boards including The Friends of the High Line, of which he is Vice Chair and Treasurer of the Board, the New York City Economic Development Corporation and the Real Estate Board of New York Board of Governors. Mr. Palumbo is also chairman of the capital campaign of the New York City LGBT Center.
Richard G. Baumert
Richard G. Baumert is responsible for development, residential sales and marketing efforts for Millennium Partners across the country. Additionally, he oversees Millennium Partners' international operations, which includes offices in Hong Kong and Taipei, Taiwan.
Mr. Baumert joined Millennium Partners in 2001. Initially based in New York City, he acted as project and asset manager for the company's pre-opening hotel operations for its Ritz-Carlton and Four Seasons hotel projects. In 2003, Mr. Baumert began overseeing all of Millennium's development interests in Miami, which included project management, operations, asset management, and sales and marketing for the residential real estate component, of Millennium Partners' mixed-use Four Seasons Hotel & Tower.
In 2006, Mr. Baumert developed and led the highly successful sales, marketing and operations aspects of Millennium Tower, a 419-unit luxury residential development in the heart of San Francisco's South of Market district. One of the most acclaimed luxury residences in the United States, Millennium Tower is the first Millennium Partners project in San Francisco to bear the company's name.
Mr. Baumert is currently focusing his efforts on Boston, where he recently commenced construction on Millennium Tower Boston, the $630 million project that will consist of the landmark 1912 Burnham Building and a contemporary, mixed-use tower that will rise 625 feet into the Boston skyline. Earlier this year, Mr. Baumert launched Millennium Place, a 15-story, $220 million luxury residential building located at the apex of Avery Street in downtown Boston, which opened in October 2013 and experienced record sales as one of the fastest selling condominium projects in the City's history.
Mr. Baumert also led Millennium Partners in establishing relationships with key influencers and recognized groups in Shanghai, Guangzhou, Beijing, Taipei, and Hong Kong, enabling them to execute localized campaigns that raised the profile of Millennium Partners within Asia and led to the opening of the company's Hong Kong and Taipei offices in March 2012.
Mr. Baumert is a graduate of Buffalo State College and The Ohio State University.