New Boston Fund Sells Allison Pointe Park in Indiana

Indianapolis, IN - (9/1/06)? Sale furthers New Boston Fund`s office park strategy in the Midwest

New Boston Fund, a real estate investment, development and management firm, recently confirmed the sale of Allison Pointe Park in Indianapolis, IN. The 225,753 square foot office space was sold to DBSI.

Allison Pointe Park is a first class office development that includes two, three story buildings, a four story building and thirty-three acres of land. Located on Allisonville Road, exit of I-465 in the northeast quadrant of Indianapolis, Allison Pointe Park provides easy access to executive bedroom communities and other commercial office centers. The area is also home to numerous amenities including restaurants, hotels, and retail stores.

"Indianapolis` strong investment market coupled with an influx of buyers from the East and West Coast made the timing of this sale ideal," says Bill Carlstedt, General Manager of the Midwest Region, "This sale further solidifies our commitment to provide our investors with exceptional returns."

This sale comes at a time when Indianapolis is seeing a recovery of the office market and there is increasing demand for high quality office space. Allison Pointe Park is currently 87 percent occupied. The major tenants include Liberty Fund, Centex Homes and ICUL Services Corporation. The property is capable of supporting an additional 500,000 to 700,000 square feet of development.

The sale was brokered by CB Richard Ellis, Inc.

About New Boston Fund
Based in Boston, New Boston Fund is one of the fastest-growing private real estate investment, development and management firms in New England. Founded in 1993 by the Rappaport family of Boston, New Boston Fund owns and manages more than 19 million square feet of commercial real estate and 4,492 residential units worth more than $2.4 billion.