Real Estate Principal Investment Area

From inception through June 30, 2009, Goldman Sachs Real Estate Principal Investment Area (REPIA) has purchased (with partners) approximately $176 billion in total cost, of which REPIA’s share is $97 billion, across more than 91,000 assets located in 38 countries including the United Kingdom, France, Italy, Germany, Sweden, Spain, Japan, Thailand, China, India and Singapore. REPIA has invested, or committed to invest, $28.3 billion in equity across 630 investments.

Due to recent market dislocation, REPIA raised Goldman Sachs Real Estate Mezzanine Partners in March 2009, with approximately $2.6 billion of committed capital, including approximately $910 million of aggregate commitments from Goldman Sachs, which will invest in real estate mezzanine loans, B-notes, CMBS, preferred equity and real estate-based corporate-style debt in North America.

In addition, Whitehall Street International Real Estate Limited Partnership 2008 was raised in May 2008 with approximately $2.3 billion of committed capital, including approximately $900 million of aggregate commitments from Goldman Sachs. This vehicle has invested outside of the US alongside Whitehall Street Global Real Estate Limited Partnership 2007, which has approximately $4.8 billion of committed capital, including approximately $2 billion of aggregate commitments from Goldman Sachs.

Goldman Sachs has committed approximately $9 billion of firm and personal capital to REPIA fund products since inception in 1991.