Our History

For more than 25 years, Dan Doherty and Brian Kelly have partnered to develop, manage and invest in numerous commercial real estate projects — and execute hundreds of real estate transactions. The founding of Eastern Real Estate in 2000 was a natural extension of their successful, long-lasting business partnership.

Eastern Real Estate has strategically acquired, developed and repositioned more than 100 transactions encompassing nearly 15 million square feet of properties. The team has transformed underutilized opportunities into vibrant retail destinations, luxury hotels, first-class office buildings, and cutting-edge mixed-use projects.

Key Milestones

  • Present: Building on our extensive relationships and experience, Eastern Real Estate formed a partnership to lead the acquisition of Taj Boston, a 273-room luxury hotel. This celebrated and architecturally significant property, overlooking the Boston Public Garden and The Boston Common, has operated as one of Boston’s finest hotels since its opening as the Ritz-Carlton nearly a century ago.
  • 2011-Present: Eastern Real Estate formed a partnership to acquire 130 acres of land in Westwood, Massachusetts, to develop University Station, a mixed-use project that consists of commercial, office and residential properties.
  • 2012-2016: Eastern Real Estate acquired the historic Custom House in Portland, Oregon, and transformed this architectural gem into one of the nation’s preeminent providers of shared workspaces, fully leased by WeWork.
  • 2011-2015: Eastern Real Estate formed a partnership to acquire the 90-acre former Palm Beach Mall in Palm Beach, Florida. The underutilized area was transformed into Palm Beach Outlets, an exclusive upscale retail destination that features 750,000 square feet of high-end retail space with more than 100 stores.
  • 2006-2007: Eastern Real Estate’s leadership divested in the majority of the Eastern Real Estate portfolio, a strategic move that yielded exceptional returns and positioned the company for future growth.
  • 2000-2006: Eastern Real Estate aggressively built a first-rate portfolio of prominent shopping centers anchored by national retail and regional tenants in prime locations. By partnering with major national retailers, Eastern Real Estate became one of the most well-regarded retail landlords in New England.
  • 2003: Eastern Real Estate acquired a long-held family-owned lumber yard through a complex reverse merger and developed Linden Square, a 275,000 square-foot high-end community shopping center in the heart of one of Boston’s most affluent suburbs.
  • 2000: Eastern Real Estate was founded by Dan Doherty and Brian Kelly. Together, they sought to create a commercial real estate company that combined innovative insight with extensive market knowledge to enhance the quality of life and create exceptional value in the communities where they invest.
  • 1994: Dan Doherty and Brian Kelly formed a partnership to purchase the 1.2 million square-foot former Wang corporate headquarters located in Lowell, Massachusetts, at auction for $525,000. After transforming the property into a first-class multi-tenant office tower, they sold it four years later for in excess of $100 million.
  • 1991-2000: Dan Doherty and Brian Kelly co-founded Atlantic Retail Properties in 1991 and quickly grew the company over a 10-year period into New England’s largest and most active broker of retail properties — completing more than 800 transactions involving over 25 million square feet.