New Boston Fund

Name

New Boston Fund

Legal name

New Boston Fund, Inc.

Website

https://newbostonfund.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Other Investment Pools and Funds (5259)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Funds — Value-Add (FSANAEAH)

Keywords

• Private equity real estate
• Real estate investment management
• Mixed-income housing development
• Value-add real estate funds
• Real estate development services

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain, Others

Revenue model

1. Investment Management Fees: Earns management fees from managing eight closed-end value added commingled real estate investment funds for high-net-worth and institutional investors. Funds have raised equity from investors and invest in real estate development and acquisition projects.
2. Development Fees and Promote Income: Generates fees from development and construction management services for its own projects and joint ventures with community development organizations. Also earns promote/incentive fees from successful project exits.
3. Co-Investment Returns: New Boston's principals co-invest alongside institutional investors in fund investments, generating returns on their own capital through successful real estate investments.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

New Boston Fund is a vertically-integrated real estate investment management firm that raises capital from high-net-worth individuals and institutional investors through closed-end value-add commingled real estate funds. The firm sponsors funds that acquire, develop, reposition, and operate mixed-income housing, Class A office, and mixed-use real estate projects across the US. It also provides in-house development and construction management services covering design, permitting, leasing, and long-term operations for its own projects and joint ventures with community development organizations.

Product overview

New Boston Fund operates as a vertically-integrated real estate investment management firm offering a comprehensive platform of services including investment management, development and construction management, and fund management. The company's core products include Mixed-Income Acquisition and Development Funds (eight closed-end value-add commingled funds), supplemented by direct development projects such as Olmsted Green, Olmsted Village, One Greenway (Parcel 24), and One Brigham Circle. The portfolio encompasses diverse property types including mixed-income rental housing, homeownership developments, Class A office properties, and mixed-use projects across Boston, Miami, Charlotte, and other markets. The company partners with community development organizations on public-private partnership developments focused on affordable and workforce housing.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Investment Management Vertically-integrated real estate investment management service that controls risks and returns for investors through in-house and third-party outsourced capabilities across the full investment and development cycle: acquisition, due diligence, design, permitting, construction management, leasing, sales, and long-term operations. Offered to institutional investors, high-net-worth individuals, and family offices.
• Development & Construction Management Full-service development and construction management covering design, permitting, construction management, leasing, sales, and long-term operations. Delivered for New Boston Fund's own fund-sponsored projects and for joint-venture partners such as community development corporations and public entities.
• Mixed-Income Acquisition and Development Funds Sponsored series of closed-end value-added commingled real estate investment funds focused on mixed-income housing acquisition and development across the Northeast, Mid-Atlantic, and Southeast US. Eight funds have been raised since 1993 totaling over $1.2 billion in equity, with cumulative property value of more than $3.5 billion. Funds include value-add office and apartment funds, triple-bottom-line development funds, and direct investments.

Quantifiable outcome

• More than $3.5 billion in cumulative property value through 160+ properties
• +3 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Ten partnerships are on record, tiered core, major and minor.

• Asian Community Development Corporation (ACDC)coreStrategic or Co-development Partner · 1 April 2006Joint venture partner for One Greenway (Parcel 24) development - a 362-unit mixed-use residential project in Boston's Chinatown. ACDC led the neighborhood effort to have the site returned to the community. New Boston and ACDC formed Parcel 24, LLC and won the designation from the Massachusetts Turnpike Authority in April 2006.
• Boston CommunitiescoreStrategic or Co-development PartnerBoston Communities is a Boston-based, minority-owned real estate development firm specializing in creating deeply sustainable, mixed-income housing. Their commitment to inclusivity and innovation aligns with New Boston Fund's values. The partnership focuses on community-focused developments that bring meaningful change to underserved neighborhoods.
• Lena Park Community Development CorporationcoreStrategic or Co-development PartnerJV partner for Olmsted Green and Olmsted Village developments - the largest non-institutional development in the Mission Hill neighborhood, comprising approximately 750 units of mixed-income rental and home-ownership housing. Lena Park CDC is one of Boston's oldest African American community development corporations.
• 2Life CommunitiescoreStrategic or Co-development PartnerPartnership for Olmsted Village development, which will become an approximately 275 unit, 10-acre, transit-oriented, mixed-income housing community for diverse homeowners, senior renters, and foster families abutting Franklin Park.
• Mission Hill Neighborhood Housing AssociationcoreStrategic or Co-development PartnerPublic/private joint venture partner for One Brigham Circle development. The community development company was essential to the project occurring at its location. The development created a 200,000 SF office/retail project adjacent to Boston's Longwood Medical Area.
• NDC Development AssociatesmajorStrategic or Co-development PartnerJoint venture partner with Mission Hill MHS and New Boston for the One Brigham Circle development. The innovative public/private joint venture was essential to the project's success.
• AmadeusminorOthersMajor technology tenant at One Park Square at Doral - signed a 10-year lease taking 37% of the 281,785 SF building, bringing percent leased at closing to 48%.
• HusqvarnaminorOthersNorth American headquarters tenant at Harris Corners Corporate Park in Charlotte, NC - a 361,144 SF Class A office portfolio.
• Carrier CorporationminorOthersTenant at Harris Corners Corporate Park in Charlotte, NC - one of the dominant Class A office assets in the submarket.
• Bank of AmericaminorOthersTenant at Harris Corners Corporate Park in Charlotte, NC - part of a strong roster of credit tenants at the property.

Scale indicators10 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Harrison Street Capital: Real estate alternatives investment manager raising closed-end funds from institutional and high-net-worth investors across multiple real estate themes. Comparable as a multi-fund, principal-investing real estate manager with a similar LP base.
• WinnCompanies: Boston-based vertically-integrated real estate developer, owner, and manager of multifamily and mixed-income housing. Comparable in Northeast geographic focus, mixed-income strategy, and integrated development/management platform.
• Boston Financial Investment Management: Boston-based real estate investment manager specializing in affordable housing through LIHTC fund syndication. Comparable as a Boston-affiliated real estate fund manager serving institutional LPs in the affordable housing space.
• Beacon Communities: Developer and manager of affordable, mixed-income, and mixed-use residential real estate. Directly comparable in the affordable/mixed-income housing niche, with similar use of public-private partnerships and LIHTC financing.
• NHP Foundation: National nonprofit owner, developer, and manager of affordable and mixed-income multifamily housing. Comparable in mission-driven, mixed-income development partnerships with community organizations.
• The Community Builders: Nonprofit real estate developer and owner of affordable and mixed-income housing across multiple US markets. Directly comparable to New Boston's mixed-income, public-private partnership development model with community development organizations.

Broad incumbents

• AEW Capital Management: Established real estate investment manager with multiple value-add and core-plus commingled funds serving institutional investors. Comparable as a multi-fund, value-add real estate investment manager, though with broader product range and global mandate.
• The RMR Group: Public real estate management firm providing investment management, property management, and development services. Comparable in providing a vertically-integrated real estate platform, though at much larger scale and across REITs and managed funds.

Regional players

• Samuels & Associates: Boston-based real estate development and investment firm focused on mixed-use, life-science, and residential projects. Comparable as a Boston-centric, mixed-use developer partnering on complex urban infill projects.
• Bulfinch Companies: Boston-area commercial real estate investment, development, and management firm. Comparable as a long-standing, Boston-rooted real estate investment and development operator, though with a more office-focused portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/new-boston-fund

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Boston Fund