PRESS RELEASES

Friday, October 10, 2008
New Boston Fund`s Sean Sacks Wins 2008 Developing Leaders Award from NAIOP

BOSTON (October 7, 2008) - Sean Sacks, Senior Analyst/Assistant Vice President at New Boston Fund, a real estate investment, development and management firm, has been selected as one of this year`s Developing Leaders by the National Association of Industrial and Office Properties (NAIOP). Sean will be recognized by the national organization at their annual fall meeting as one of the premiere up-and-coming professionals in commercial real estate.

Sponsored by NAIOP`s Diversity Task Force, the award recognizes 17 commercial real estate professionals, aged 35 and under. Candidates were selected by industry professionals according to six categories: leadership, professional competency, career goals, NAIOP participation, community involvement, and by judge`s discretion of merit.

We are proud that Sean has been chosen to receive this year`s `Developing Leaders` Award, said Jerry L. Rappaport, Jr. President and Chief Executive Officer at New Boston Fund. The selection process is highly competitive and the winners are among the most talented and successful young real estate professionals in the country. Sean brings a passion for developing mixed-use transformative urban real estate that is both rare and refreshing in the industry.

Sean joined New Boston Fund in 2005 as part of the company`s Urban Strategy America (USA) Fund, a private New Boston real estate investment fund that executes on the promise of a triple bottom line- generating solid returns to investors, spurring economic development and workforce housing, and promoting environmental sustainability. He is currently the development manager for a 292,000 square-foot mixed-use project in Boston that will contain 70 affordable for-sale residential units, 16,500 square feet of small retail stores, 7,500 square feet of non-profit and community space, and a 175,000 square-foot office building.

Sean graduated with a Bachelor of Arts in International Studies from Vassar College and received his Masters of Science in Real Estate Development and City Planning from the Massachusetts Institute of Technology (MIT) in 2005. He is the current president of MIT`s Alumni Association of the Center for Real Estate (AACRE), as well as a member of Urban Land Institute (ULI).

The Developing Leaders program advances NAIOP`s agenda and enhances our diversity by acknowledging and encouraging the involvement of these accomplished young professionals who will lead our organization and the commercial real estate industry into the future, said Thomas J. Bisacquino, President of NAIOP.

Sean will be honored at NAIOP`s annual conference, development `08, which takes place October 20-23 in Las Vegas, and features three days of education, interactions and events all tailored to help the organization`s members achieve success. Top-notch educational offerings, keynote speakers and opportunities to view new markets provide invaluable experiences designed to keep NAIOP members ahead of the industry curve.

New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.4 billion including 23 million square feet of commercial real estate and 7,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban real estate investment funds with a focus on diversification and capital preservation. New Boston Fund: People, Values, Returns.

About NAIOP
The National Association of Industrial and Office Properties is the nation`s leading trade association for developers, owners, investors and other professionals in industrial, office and mixed-use commercial real estate. Founded in 1967, NAIOP is comprised of more than 17,500 members in 56 North American chapters and provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. For more information, visit www.naiop.org.

INQUIRIES

For all news or media inquiries, please contact:
Allyson Quinby
Solomon McCown & Company
617-695-9555
aquinby@solomonmccown.com