Well, this should (but won’t) shut up some people.
According to the Boston Business Journal:
A veteran Boston real estate player and an ex-banker colleague filed to establish a fund as big as $20 million to invest in the residential property market.
Kevin J. Ahearn, of Otis & Ahearn, filed the securities form with colleague Jonathan Schneider.
The minimum investment will be $250,000, the filing states. They’ve already raised $1 million.
Their goal is to invest in what Schneider described in an interview as the “core neighborhoods of the Back Bay, Beacon Hill, the South End.”
Kevin Ahearn has been criticized for his “glass completely full” outlook on the Boston real estate scene. It’s true that on occasion he ignores the negatives but I’ve never known him to say anything that wasn’t true. Empirical data doesn’t lie.
Of course, his new fund is made up of “other people’s money”, but impressive, and, in my opinion, a wise business decision.
If I had $250,000 to invest, I’d do it, today. The downtown Boston neighborhoods are prime real estate. The future looks bright for Boston Proper as we roll out of this recession. Land? They’re not making any more of it, you know.
Good luck, Kevin.
Photo courtesy the Massachusetts Hockey On-Line website
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