BOSTON—Eastern Real Estate, a national commercial real estate investment, development and asset management firm, has moved to One Marina Park Drive in Boston’s thriving Seaport District.
“The Eastern team has long been focused on enhancing the quality of life in the communities where we invest,” said Eastern Real Estate Principal Daniel Doherty III. “The Seaport District – an area known for innovative thinking – is a perfect backdrop for the entrepreneurial and collaborative spirit that drives our investment practices throughout the United States.”
Known across the industry for developing and revitalizing large-scale commercial properties, Eastern Real Estate has invested in more than 150 projects encompassing over 15 million square feet and has completed projects in excess of $3 billion since its founding in 2000.
The firm’s recent highlights include the development of University Station in Westwood, Mass., a multi-phase 1.5 million square-foot mixed-use project, the repositioning of the storied Taj Boston Hotel located across from the city’s historic Public Garden, and the development of a $150 million multi-generational, mixed-use portfolio in Las Vegas, NV. The firm also replaced a 1.2 million square-foot, 1960s-era Palm Beach Mall, constructing a modern-day, open-air 750,000 square-foot retail center. Additionally, Eastern Real Estate renovated the landmark Custom House in Portland, OR into a preeminent workspace, fully leased to WeWork.
Eastern Real Estate is strategically investing in numerous value-add opportunities, across all asset classes, primarily in New England, the Southeast, and California.
Eastern Real Estate, a privately held commercial real estate firm, with deep expertise in capital investment, real estate development, and asset management, is led by Daniel J. Doherty III and Brian J. Kelly.
Since their 1990’s acquisition of Wang’s former corporate headquarters, where their $525,000 purchase was sold three years later for over $100 million, Doherty, Kelly, and their team of trusted industry professionals have specialized in adding value to complex real estate opportunities and have earned a well-established track record of successful investing across multiple asset classes. Throughout their successful careers, both Doherty and Kelly have been thoughtful leaders and active citizens, supporting public health, education, and investing in youth as well as numerous other philanthropic causes.