Westbrook Partners sells stake to Goldman Sachs subsidiary

Petershill, a subsidiary of Goldman Sachs’ asset management unit, has bought a stake in real estate investment firm Westbrook Partners, according to The Wall Street Journal, marking its first purchase in a firm that’s dedicated to real estate.

Terms of the transaction were not disclosed.

As part of the deal, Westbrook is changing its ownership structure. Formerly owned just by Paul Kazilionis, Westbrook’s founder and CEO, the company will now be owned in part by other Westbrook executives and Goldman Sachs.

Westbrook has $11 billion in real estate under management across the globe.