Expanding Leggat McCall Properties Names Three New Partners

BOSTON, Nov. 15, 2010 /PRNewswire/ -- Leggat McCall Properties LLC, one of Boston's largest development and project management companies, is adding three new partners, company executives announced today.

Robert J. Palumbo,  Dante Angelucci, Jr., and Karl R. Neubauer will each have the title of Senior Vice President following promotion.

Bucking a downward trend in the development industry, Leggat McCall Properties has been expanding. The firm has started two large projects in 2010, a highly challenging time in the real estate environment. Today marks the first time in five years that Leggat McCall, a privately owned company, has expanded its stable of partners, now numbering 13.

The expansion reflects both a commitment to share the success of the company with talented employees and the recent growth of the company's business in the Greater Boston area and elsewhere, executives said.

"Each of these individuals brings important experience to our partnership, and we are thrilled that they will be with us as we continue to expand the business," said Leggat McCall President Eric Sheffels.

• Robert J.  Palumbo held senior positions at Beacon Capital Partners and Equity Office Properties before joining Leggat McCall in 2006. At Leggat McCall, he has been project manager for the master-planning and permitting of more than one million square feet of development at the Christian Science Church's 14-acre campus in Boston.
• Dante Angelucci, Jr., combines a construction background and a law degree and joined Leggatt McCall in early 2008. He has provided development consulting services to a $1 billion equity fund headquartered in Boston and is currently leading a management team on development of the $100 million Green High Performance Computing Center in Holyoke, MA. Mr. Angelucci  was previously at Meredith & Grew and Cathartes Investments.
• Karl R. Neubauer has managed permitting, design, and construction for life sciences, technology, and institutional projects since joining Leggat McCall Properties in 1996.  Mr. Neubauer oversaw the recent expansion and renovation of the Boston Children's Museum, and he was responsible for the first LEED Platinum interior project in Massachusetts  -- Leggat McCall Properties' own rapid, 15-day transformation of its 10,000-square-foot headquarters at 10 Post Office Square.

"Over the last 12 months we have seen major new permitting initiatives, data-center requirements, and even some new office development," said Leggat McCall Development Division co-manager Mahmood Malihi. "Dante, Karl, and Bob give the firm the experience in the partnership ranks to execute this business."

Examples of Leggat McCall's recent growth include:

• The $100 million, Green High-Performance Computing Center in Holyoke, MA., begun in mid-2010 and managed for a consortium of Massachusetts Institute of Technology, Harvard, Boston, and Northeastern universities, and the University of Massachusetts.  
• Hanover Insurance Company's CitySquare development in Worcester, also a mid-2010 project. The firm is involved as development manager in all aspects of this redevelopment in Worcester Center, which will include a new 200,000-square-foot building for Unum Insurance, re-establishing the traditional street pattern, and creating adjacent residential, hotel, and institutional development opportunities.

Among other major Leggat McCall projects are BioMed Realty Trust's Center for Life Sciences, an $800 million, 700,000-square foot lab and research-development facility in Boston's Longwood Medical Area, and Partners Health Care/Massachusetts General Hospital's new, 530,000-square-foot Lunder Building, which may be the most sophisticated hospital facility in the country when it is completed early next year.

Also active in the investment side of Boston real estate, the firm has purchased four buildings totaling 400,000 square feet over the last 18 months.

ABOUT LEGGAT MCCALL PROPERTIES LLC

Founded in 1965, Leggat McCall Properties is a leading owner and developer of office properties, as well as service provider to a corporate, educational, health-care, and other clients in the Boston to Washington, D.C., corridor. Leggat McCall Properties has acquired and developed more than seven million square feet of properties, with an aggregate value in excess of $1.5 billion. The company specializes in managing development and construction risk, and transforming complex and challenging real estate projects into stable, institutional-quality assets.

SOURCE Leggat McCall Properties LLC