New Boston Selects John Thompson to Lead Growing Mid-Atlantic Portfolio

Firm adds two new leaders in the Washington Region

WASHINGTON, D.C. (1/23/2007) - New Boston Fund, Inc., a real estate investment, development and management firm, recently announced the appointment of John Thompson as Regional Director of Acquisitions for the Mid-Atlantic region. He has recently relocated from New Boston Fund`s headquarters in Boston, MA to the company`s Tysons Corner, VA office. Thompson will lead the firm`s expansion and growth in the Mid-Atlantic region.

Thompson brings eight years of experience in the commercial real estate industry. Since joining New Boston Fund in 2000, he has been working with a focus in the Mid-Atlantic and completed over $500 million of acquisition, joint venture and development deals throughout the region. Most recently, Thompson led New Boston`s acquisition of Inglewood Business Park in Largo, MD, and One Harmon Plaza, a "Class A" office building in Secaucus, NJ. Both were acquired on behalf of New Boston`s sixth real estate fund.

"John has the experience and leadership ability necessary to lead New Boston`s expansion efforts in the Washington Metropolitan region," says Jim Kelleher, Chief Investment Officer of New Boston Fund. "His role in the Mid-Atlantic will allow us to continue providing solid returns to our investors as we build a diversified real estate portfolio in the region."

Thompson will work with Patrick Shooltz, recently hired to lead the firm`s investment strategy in the region as it prepares to start investing capital on behalf of its seventh real estate fund.

"We plan to continue our successful track record in the Mid-Atlantic of seeking acquisition, joint venture and development deals across a variety of product types," says Thompson. "We will continue to seek office, industrial and flex deals while also adding some residential and retail assets to the portfolio. New Boston Fund has made a long term commitment to the region and we are eager to grow."

Thompson has a master`s degree in Real Estate Finance from Cornell University and a bachelor`s degree in Economics from Stanford University.

To expand its presence in the Washington region, New Boston has also hired Joshua Firebaugh to manage all aspects of development in the Mid-Atlantic region. Firebaugh, a native Washingtonian, will work alongside Thompson in the firm`s Northern Virginia office. He joins New Boston with a wealth of experience in residential and commercial acquisitions both in the U.S. and abroad.

Most recently, he worked as an acquisitions manager for AIG Global Real Estate Investment Corporation, where he was responsible for numerous commercial and residential acquisitions throughout the U.S. and Europe. Prior to joining AIG Global Real Estate Investment Corporation, he spent three years at Jones Lang LaSalle as a member of the Land Development team. Firebaugh began his career abroad as an architect and worked for several firms including Santiago Calatrava`s studio in Paris, France.

He has a master`s degree in Real Estate Development from the Massachusetts Institute of Technology and a bachelor`s degree in Architecture from Rice University.
"We are excited about having such a talented team of dedicated professionals on the ground in the Mid-Atlantic to demonstrate our commitment and anticipated growth in this region," says Kelleher.

About New Boston Fund

New Boston Fund is a privately held real estate investment and development company led by seasoned real estate practitioners and known for its exceptional returns for investors. New Boston has developed or acquired commercial and residential properties with a cumulative market value of over $3.3 billion including 19 million square feet of commercial real estate and 5,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban strategy real estate funds. The New Boston Fund: People, Values, Returns.