Friday, January 25, 2013

BOSTON – (January 25, 2013) – New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today the promotion of David Willett to Regional Director of Acquisitions for the firm’s Northeast region.

In his new role, Willett leads all investment activities and is responsible for identifying, analyzing and evaluating acquisition, development and joint-venture opportunities in the Northeastern United States. He previously held similar responsibilities for New Boston’s Southeast portfolio, focusing on the company’s growth and building an investment strategy that spanned from Raleigh, N.C. to Miami, Fla.

“David has contributed substantially to New Boston’s growth in the Southeast,” said Gary Hofstetter, Northeast Regional Director, New Boston Fund. “I look forward to seeing David transition into his new role in the Northeast and am confident that he will help the firm identify value-oriented opportunities for investment in this region and expand our Northeast portfolio.”

Willett has proven himself to be an invaluable member of the New Boston team, leading the effort to restart New Boston’s acquisition platform coming out of the recession with a series of distressed office acquisitions in Orlando, Fla. in May 2010. Since then, Willett has executed approximately $160 million in transactions comprised of more than one million square feet stretching from Raleigh to Miami.

“New Boston is excited to have David focusing his efforts in the Northeast to help rebuild the firm’s portfolio that once totaled more than four million square feet in New England,” said Jim Kelleher, Chief Investment Officer, New Boston Fund.

Willett has spent the last six years covering multiple markets for New Boston, including Colorado, Texas, Florida, Georgia and North Carolina with a focus on executing distressed real estate transactions. He currently serves as a “Developing Leader” member of NAIOP and a “Young Leader” member of the Urban Land Institute (ULI). He was recently appointed to the selective Developing Leaders Forum of the NAIOP National Forums, which is comprised of 20 members who have been identified as emerging leaders within their field.

Willett earned his Master of Business Administration from The Wharton School of Business at the University of Pennsylvania with a dual major in Real Estate and Entrepreneurial Management, as well as his Bachelor of Arts degree in Economics from Williams College.

“I am thrilled to be back in Boston, practicing real estate in my local market,” said David Willett, Northeast Regional Director of Acquisitions, New Boston Fund. “I am also looking forward to becoming a bigger part of Boston’s business community and having the opportunity to dedicate more of my time to volunteering locally.”

Outside of the real estate industry, Willett enjoys volunteering in the community as a youth soccer coach at the YMCA of Greater Boston, being an active planning committee member for the annual Families First Fathers’ Breakfast, and as a fundraiser and participant in the Golf Fights Cancer Golf Marathon fundraiser for The Hole in the Wall Gang Camp.

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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