Friday, November 30, 2012

Arlington, Va. (November 30, 2012) – New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today the promotion of Peter Burke to Vice President of Acquisitions for the firm’s Mid-Atlantic office.

In his new role, Burke will spend more time in the market uncovering deals that are aligned with New Boston’s value-add investment strategy, completing underwriting analyses and executing due diligence. Most recently, Burke has been involved in the financing for New Boston’s recent acquisitions in the region that include 67,000 square feet of leasable office space at 111 K Street NE in Washington, D.C.’s NoMa neighborhood and Stevens Forest Green, a 84,300-square-foot Class-A office building in Columbia, Md.

“Peter has contributed substantially to the success of our Mid-Atlantic portfolio,” said Pat Shooltz, Senior Vice President and Mid-Atlantic Regional Director at New Boston Fund. “I look forward to seeing him continue to build strong relationships in the real estate community and find new investment opportunities for New Boston Fund in his new role.”

Burke joined New Boston’s Mid-Atlantic office in 2007 as a Senior Associate. In this position, Burke completed the underwriting of income producing properties and detailed financial and market analyses for potential acquisitions. He also supported the asset management team in the day-to-day operations of the Mid-Atlantic portfolio and assisted in the sales process of existing assets. In March of this year, his responsibilities grew to include more involvement with the Mid-Atlantic office’s capital markets activities, sourcing debt through regional banking relationships and mortgage brokers when he was promoted to Assistant Vice President.

Prior to joining New Boston, Burke spent four years with Columbia National Real Estate Finance, a provider of commercial real estate financing and loan servicing, as a financial analyst. He also worked for CB Richard Ellis/Whitter Partners and Yale Properties in Boston.

Burke has been an active member of the Urban Land Institute (ULI) for more than five years, as well as the Northern Virginia chapter of NAIOP for two years. He is also involved with the Real Estate and Finance Alliance (REFA), a network of George Washington University alumni that provides opportunities for leading alumni to connect, creates mentorship opportunities for current students and supports the George Washington University through philanthropy.

Burke earned his Master of Business Administration with a focus in real estate finance from George Washington University. He also graduated from Saint Michaels College with a Bachelor of Science degree in business administration.

About 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. The New Boston Fund: People, Values, Returns.


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