PRESS RELEASES

Monday, August 19, 2013
KIRK SYKES NAMED CHAIRMAN OF THE REAL ESTATE EXECUTIVE COUNCIL’S BOARD OF DIRECTORS

President of New Boston Fund’s Urban Strategy America Fund to lead 14-member Board of Directors

BOSTON – August 19, 2013 - New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced today that Kirk A. Sykes, President of New Boston’s Urban Strategy America (USA) Fund, LP, has been appointed Chairman of the Board of Directors for the Real Estate Executive Council (REEC), the leading professional trade association formed to promote the interests of minority executives doing business in the commercial real estate industry.

The REEC Board is made up of 14 members, each of whom serves a maximum of two consecutive three-year terms. Sykes will succeed Quintin E. Primo III, who served as Chairman of the REEC Board since the inception of the organization in 2003. Sykes previously held the Vice Chairman position under Primo for three years.

"I am honored to follow Quintin as Chairman of REEC, and to have served as Vice-Chairman alongside him for the last three years," said Sykes. "I welcome this opportunity to expand upon the initiatives that we began as a Board and membership 10 years ago. We have grown as an organization, and the real estate industry has changed. Therefore, REEC will adapt and innovate in the current financial climate in order to benefit all of our members and to advance the role of people of color in this industry."

As President of New Boston’s USA Fund, Sykes is responsible for the supervision of the partnership equity placement, the identification of potential and actual investments and developments, as well as the management of the Fund’s day-to-day business operations. He specializes in the creation of urban mixed-use, mixed-income developments, including Olmsted Green in Dorchester and One Greenway in Boston’s Chinatown neighborhood.

Sykes also serves as Co-Chair of the Urban Land Institute (ULI) Responsible Property Investment Council and as a member of the organization’s N.E. Executive Committee. He is on the advisory board for Northeastern University’s School of Urban and Public Policy, The Rappaport Institute of Public Policy at Suffolk School of Law and the Initiative for a Competitive Inner City. In addition, Sykes is the current Chairman of the Federal Reserve Bank of Boston and a Commissioner on the City of Boston’s Civic Design Commission.

Sykes attended the Harvard University Business School, Owner and Presidents Management Program, the MIT Center for Real Estate Development, Commercial Development Executive Program and the L’Ecole Polytechnique in Paris, France. He earned his Bachelor of Architecture from Cornell University.

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 $3.5 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. www.newbostonfund.com

About the Real Estate Executive Council
REEC is a 501 (C) (6) not-for-profit professional trade association composed of minority men and women working in the commercial real estate industry. These individuals come from varying backgrounds all culminating in professional careers allied to investment, management, leasing, financing, and property development. Through fellowship and education, REEC’s mission seeks to increase and enhance access amongst its members and others in the real estate industry, thereby enabling our membership to profit and grow. Our mission is achieved by the following three goals: to create opportunities for relationship development and access to information that will lead to increase business opportunities; to support organizations that seek to increase the number of minority professionals in the real estate industry; and finally to promote education and advancement of minority professionals in the real estate industry. The primary forum for achieving this mission and these goals are our quarterly REEC Chairman’s Forums and members-only events, at which time REEC members gather to share information, deal updates, and new business and partnership opportunities. These events are closed to REEC members and invited guests, therefore, are relatively small gatherings where old relationships can be renewed and new relationships can be formed. To learn more, visit www.REEC.org.

INQUIRIES

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