OUR TEAM

Daniel J. Doherty III is a Principal of Eastern Real Estate, which he co-founded with his business partner Brian Kelly in 2000. Their entrepreneurial approach and long-term industry relationships have enabled them to develop and implement creative solutions for a wide range of commercial real estate opportunities. 

Mr. Doherty is a strong advocate for the advancement of youth, education, and personal well-being. He has a distinguished record of active support and board leadership of numerous local, regional, and national charitable organizations. Over twenty years ago Dan established the Doherty Family Scholarship to help economically challenged students who exhibit exceptional leadership potential. This program, which has special meaning for Mr. Doherty given the personal circumstances of his youth, has provided dozens of students the opportunity to lift the trajectory of their lives through education.

Mr. Doherty holds a Bachelor of Science – honoris causa from Tufts University and is Trustee Emeritus of the Tufts University Board of Trustees where he served as Vice Chair and was a longstanding member of the Executive Committee and served as a Trustee of Tufts Medical Center. In recognition for his many years of thoughtful leadership, the Alumni Association presented Mr. Doherty with the Distinguished Service Award medal.

Dan’s experience and insight has been recognized by the University of Virginia, where after serving a member of the Administration & Finance Committee of the College Foundation, he is honored as Trustee Emeritus.

Dan is a lifelong resident of the greater Boston area. Together with his wife, he is actively engaged in family life and the educational, career and civic pursuits of their three children. In addition, Dan enjoys cycling, boating and golf.

Brian Kelly is a Principal of Eastern Real Estate, which he co-founded with his business partner Dan Doherty in 2000. Since their professional partnership began in 1991, Brian’s and Dan’s entrepreneurial approach and long-term industry relationships have enabled them to develop and implement creative solutions for a wide range of commercial real estate opportunities. Together with their longtime team of professionals, they have completed hundreds of transactions and developed over 150 projects encompassing nearly 15 million square feet valued in excess of $3 billion.

Outside of his responsibilities to Eastern Real Estate clients and the communities in which the company invests, Brian Kelly maintains a longstanding and deeply personal commitment to autism and autism-related causes.

For more than a decade, Brian has led various efforts to provide education and care to individuals and families impacted by autism, including advising on the acquisition and development of the Melmark School in Andover, Massachusetts, and the funding and construction of the world-renowned Koegel Autism Center at the University of California, Santa Barbara. As a result of his work with the Koegel Autism Center, the University of California, Santa Barbara Gevirtz School presented Brian with the Thomas G. Haring Memorial Award, which honors achievement in special education.

In May 2015, Brian was elected Chairman of the Board of Autism Speaks. He has long been an integral part of Autism Speaks, both as a founding member of the Board of Directors and of its Executive Committee. Brian served as Chairman for five years. Prior to his election as Chairman of the Board, Brian served as Chairman of the Audit and Family Services Committees.

Brian is a past recipient of the Gilda Radner Courage Award, which recognizes a cancer survivor whose courageous public battles have given hope to people with cancer and focuses public attention on the fight against the disease.

Brian was raised in New York and spent most of his adult life in Boston. Brian resides in Santa Barbara, California, where he raised his six children. His eldest child, Patrick, has autism.

Toby Banta is an Executive Managing Director with Eastern Real Estate where he guides investment strategy and asset execution. Toby works closely with Eastern founders Dan Doherty and Brian Kelly on management and growth of the firm, with primary responsibilities including sourcing new acquisitions, joint-ventures, and capital formation. Toby also serves on Eastern’s Investment Committee.

Prior to joining Eastern, Toby was a Vice President with New York City based DLJ Real Estate Capital Partners. In 2017, Toby opened DLJ’s Boston office where he oversaw the Boston portfolio and new business initiatives. Toby’s responsibilities included the planning and structuring of a 7-acre master planned development in the Boston area as well as fundraising for DLJ’s discretionary investment vehicles. Before DLJ, Toby was a Vice President with O’Connor Capital Partners in New York City, focusing on retail and multifamily investments. He was responsible for all aspects of new investments and asset management.

To date, Toby has completed over 30 investments totaling more than $6 billion in value including retail, office, multifamily and life science properties.

Toby is a Boston native and a graduate of the College of the Holy Cross in Worcester, Massachusetts where he earned a double major in Economics and Spanish while playing Division 1 Lacrosse. As an undergrad, Toby became a mentor with Big Brothers/Big Sisters and remains an active supporter.

Toby is a member of NAIOP and the International Council of Shopping Centers. He lives in Boston with his wife and son. In his spare time Toby enjoys golf, skiing, basketball and running.

As Managing Director and General Counsel of Eastern Real Estate, Ray Murphy is responsible for the management of all legal aspects of the company and the wide variety of transactions the company undertakes. Ray is also a key member of the team on strategic decisions and deal structuring.

Ray and the company’s legal staff have overseen hundreds of real estate and other transactions, ranging from basic acquisitions and sales to complex development deals, syndications and joint ventures. He takes pride in his ability to craft practical, creative and flexible solutions to the challenges posed by each deal or situation.

Prior to joining Eastern Real Estate in 2000, Ray was a partner in the Boston law firm of Palmer & Dodge, having joined the firm directly out of law school in 1985. While there, his practice focused on real estate development and finance.

Ray is a graduate of Dartmouth College and the George Washington University National Law Center. He maintains active memberships in a variety of professional organizations, including Greater Boston Real Estate Board, the Boston chapter of Urban Land Institute, and the Nashoba Valley Chamber of Commerce.

A dedicated cyclist, Ray has participated in the Pan Mass Challenge, an annual bike ride that supports the Dana Farber Cancer Institute, every year since 2003. In that time, he and his team of riders have raised nearly $1 million dollars for cancer research. Ray is also active in local youth sports in his town, having been one of the originating founders of its youth football league.

Ray is a devoted husband and father of three boys. He has enjoyed a lifetime of active sports participation, and his current interests include skiing, golf, trail running and riding, and road biking.

Andrew Hayes is Managing Director with Eastern Real Estate where he works closely with Eastern’s executive team to develop and implement management and growth initiatives. Andrew oversees the strategic asset management of Eastern’s diverse portfolio and also leads select development projects across the country. 

Prior to joining Eastern, Andrew was a Lead Development Project Manager with the Related Companies in Boston, where he oversaw all aspects of new development projects from site acquisition and financing, to entitlement, construction oversight, market strategy and ultimately asset management.  To date, Andrew has worked on over $2 billion of transactions totaling over 3 million SF across all asset classes, including luxury, affordable and workforce housing, ground-up and adaptive re-use office, industrial, and hospitality. In his previous roles at Related, Andrew worked on a number of strategic business initiatives to grow Related’s construction platform which included the founding of New Hudson Facades, a curtainwall manufacturing and design company.

Andrew grew up in the Greater Boston area before attending Georgetown University’s McDonough School of Business where he earned a Bachelor of Science and Business Administration with a dual major in Accounting and Finance. Andrew lives in Boston’s Seaport District. In his spare time Andrew enjoys cycling, running, hiking, and cooking with family and friends.

As Managing Director of Development at Eastern Real Estate, Dan Sullivan is involved in all aspects of real estate development for the firm—overseeing site selection, feasibility analysis, entitlements, leasing and construction management.

His recent projects include the revitalization of the turn-of-the-century Historic Custom House in Portland, Oregon; development of a portfolio consisting of industrial, retail and 350 acres of land located in the Las Vegas, Nevada, market; and ground-up development and entitlement of an office/retail/research and development project in the Central Coast region of California.

Dan’s background includes all facets of commercial development, leasing and construction management. Product type experience includes retail, office, industrial, medical office, hospitality and data center/telecom facilities. Dan’s experience includes tenure at Homart Development, where his team successfully leased and developed several million square feet of the company’s open-air retail centers located throughout the Northeast.

Dan is a graduate of the University of Wisconsin-Milwaukee with a double major in real estate and finance. He regularly volunteers his expertise in construction, project management and planning for numerous charitable causes, including his church and public park district. In one example, he helped a nonprofit organization redevelop a portfolio of underutilized assets into a daycare center, charter school, community center, autism center and Veterans homeless facility. These newly redeveloped and vibrant properties now serve the needs of those living in some of the country’s most impoverished neighborhoods.

As the Vice President of Finance at Eastern Real Estate, Jessica Fay is responsible for the company’s financial operations, including finance, cash management, accounting, financial reporting, and compliance. She oversees the firm’s capital market activities and is involved with the analysis and structuring of investments. Jessica also leads Eastern’s Accounting team, prepares financial reports for Eastern Real Estate lenders and partners, and works in close coordination with the company’s accounting firm.

Prior to joining Eastern Real Estate in 2007, Jessica served as a staff accountant at Beacon Capital Partners Management.

Jessica graduated from Plymouth State University with a Bachelor of Science in business management with an option in finance and a minor in mathematics. She is an active member of Real Estate Finance Association (REFA).

Jessica and her husband, James, have one son and are longtime residents of the North Shore. When not spending time with family and friends, she enjoys running or volunteering within the community.

Mark Lester is Director of Investor Relations at Eastern Real Estate. His responsibilities include investor communications management and collaborative support of Eastern Real Estate’s fundraising, investor/partner relationship development, and account management activities.

Mark also serves as Managing Director of Eastern Investment Company LLC, management company for Eastern Holdings LLC, a private investment company for the family office of Founder and Principal Daniel J. Doherty III, which provides executive guidance and strategic growth capital to its growing and diversified investment portfolio.

Mark received a B.S.E. in Naval Architecture and Marine Engineering from the University of Michigan, a Masters in Management from the Massachusetts Institute of Technology Sloan School of Management, and was certified Chief Engineer of Navy Nuclear Propulsion Plants while serving as a U.S. Navy Nuclear Submarine Officer.

Mark settled permanently in Massachusetts in 1988 where he resides with his wife Kate and their three children. While dedicated to supporting and spending time with his family, Mark also enjoys golf, CrossFit training, fishing, and charitable work with organizations such as the New England Center and Home for Veterans, and the Dana Farber Cancer Institute.

Sam Campbell is a Vice President with Eastern Real Estate where he is primarily responsible for assisting in all aspects of acquisitions, development, and asset management. Sam works directly with senior management on the underwriting, diligence and execution of new investment opportunities. Sam also assists in the management and oversight of Eastern’s diverse portfolio.

Prior to joining Eastern, Sam was an Associate in the Boston office of JLL Capital Markets, Americas. Sam’s primary responsibilities included debt and equity advisory for owners of life science, office, retail, multi-housing, industrial and hotel properties. His experience includes underwriting, marketing and structuring transactions such as construction, permanent, bridge and mezzanine debt as well as preferred and joint venture equity. During his career at JLL, Sam was involved in over $2.9 billion in transactions. Prior to JLL, Sam worked at Ernst & Young within the company’s real estate tax group.

Sam lives in South Boston with his fiancé and is a graduate of Fairfield University in Connecticut where he earned a Bachelor’s degree in accounting and a Master of Science in accounting with a focus in taxation. Sam is an active member of NAIOP and is currently the co-chair of NAIOP’s Developing Leaders Group. In his spare time, he enjoys golfing and skiing.

As the Controller at Eastern Real Estate, Liam Keegan is responsible for overseeing the accounting operations for the company and maintaining the day-to-day activities of the
company’s portfolio of assets from acquisition to disposition. Liam manages the monthly close and financial reporting for operating and development projects. Additional
responsibilities includeoversight of all aspects of accounts payable and accounts receivable, treasury administration, annual budgeting, capital calls and distributions, and
development, corporate and construction accounting. Liam also works closely with the company’s accounting firm for annual tax return preparation and review. Prior to joining Eastern,
Liam was the Assistant Controller with Related Beal LLC, the Boston office of the Related Companies. Prior to Related Beal, Liam worked at CohnReznick LLP within the
company’s real estate assurance group. Liam lives in Scituate with his wife and two daughters and is a graduate of Boston College where he earned a Bachelor’s degree in management with concentrations in accounting and finance. Liam is a Certified Public Accountant in the Commonwealth of Massachusetts. In his spare time, he enjoys golfing and snowboarding, and
spending quality time with his family.

Rebecca Murphy is Investor Relations and Operations Manager at Eastern’s offices in Santa Barbara, California. She is an integral member of the team cultivating hospitality and business operations on the west coast. She also handles a wide range of activities related to the successful implementation of the Company’s real estate and business investments throughout the United States. In addition to being point person for investor communications, her responsibilities include commercial and residential real estate sales, leasing, development, construction, and operations management.

Rebecca began working with Eastern’s founders in 1995 and has held multiple roles during the formation and evolution of the company.

Rebecca earned her Bachelor of Arts in English and American Literature from Harvard Extension School and her Paralegal Certificate from Northeastern University. Rebecca is also a Licensed California Real Estate Salesperson.

Rebecca resides in Santa Barbara, where she raised her four children. She enjoys cycling, running, hiking and golf and serves on several Santa Barbara-based philanthropic boards including National Charity League, Royal Pride Foundation, Alpha Resource Center – Culinary Arts Program and Santa Barbara Soccer Club. Rebecca is also a member of the Sacred Heart University’s President Council.

Patrick O’Malley is a Senior Associate with Eastern Real Estate where is he is primarily responsible for advancing asset management and development initiatives. Patrick works closely with the executive team on the strategic management of Eastern’s diverse portfolio as well as the underwriting, diligence, and execution of value creation opportunities for new projects.

Prior to joining Eastern Real Estate, Patrick worked as an Analyst at Finard Properties, where his primary responsibilities included underwriting and due diligence for acquisitions, asset management, and development across a 1.5 million SF portfolio that included retail, office, and industrial projects. Prior to Finard, Patrick worked at PricewaterhouseCoopers in the Risk Assurance practice.

Patrick grew up in the greater Boston area before attending the Isenberg School of Management at the University of Massachusetts Amherst, where he earned a bachelor’s degree in Business Administration with a concentration in Finance. Patrick lives in South Boston and is an active participant of NAIOP where he serves on the Developing Leaders Committee. In his spare time, he enjoys golfing, running, and spending time with family and friends.

Michael Kelly is an Associate with Eastern Real Estate where he is primarily responsible for assisting in all aspects of acquisitions, development, and asset management. Michael supports the acquisitions team with underwriting, diligence, and execution of new investments. Michael is also involved in the asset management of Eastern’s growing portfolio.

Prior to joining Eastern, Michael interned with RPT Realty in New York working on the leasing team, where he assisted in all aspects of commercial leasing. He later worked as an acquisitions analyst, responsible for identifying new retail investments in the Boston Metropolitan area.

Michael lives in Cambridge and is a graduate of Boston College where he earned a Bachelor’s Degree in Business Administration with a concentration in Finance. In his spare time, he enjoys tennis and boxing.

Danny Doherty is an associate with Eastern Real Estate where he is primarily responsible for financial underwriting, market research, and assisting with due diligence for acquisitions and development. Danny also works closely with the Asset Management team to help drive management and development initiatives across Eastern’s growing portfolio. Prior to joining Eastern, Danny was an analyst for the investment sales team in the New York office of Eastdil Secured. Danny’s primary responsibilities included underwriting and preparing marketing materials for both equity and debt transactions of office, retail, multifamily and hospitality properties. Danny lives in South Boston and is a graduate of the University of Virginia where he earned a bachelor’s degree in economics with a minor in statistics. In his free time, he enjoys playing basketball, golf and supporting Boston’s sports teams.

As a Property Accountant at Eastern Real Estate, Melissa Tucker is responsible for the day-to-day accounting functions for multiple properties. In this role, Melissa manages a variety of internal reports, including Company financials, variance reports, monthly close, account reconciliations, accounts payable and accounts receivable. She works closely with the finance and asset management teams on the preparation of property budgets, construction draws, as well as annual tax return preparations and reconciliations.

Prior to joining Eastern Real Estate in 2004, Melissa served as an Investment Accountant at One Beacon Insurance, formally Commercial Union Insurance Company and as a Property Accountant at Cabot Industrial Trust as well as RREEF.

Melissa is a graduate of Bentley University with a Bachelor of Science in Accounting and a minor in Law.
Melissa and her husband, Dan have three children and are longtime residents of the North Shore. Outside of the office, she enjoys spending time with family and friends, watching her children’s sporting events and volunteering at the schools.

As Legal Assistant Jean O’Brien works directly with Ray Murphy, Eastern’s General Counsel. She assists in preparing various legal documents for upcoming acquisitions, sales, closings, forms and maintains all corporate entities.

Prior to joining Eastern Real Estate in 2000, Jean worked as a legal secretary at the law firm formerly known as Palmer & Dodge for 14 years.

Jean and her husband, Frank, reside in Stoneham, with their two dogs. She enjoys spending time with her family and friends, and also likes golfing, biking, hiking, and yoga.

Virginia is an Accounts Payable and Accounts Receivable Specialist at Eastern Real Estate.  In this role
Virginia works closely with the finance team to manage billings and vendor relations across the
portfolio.  Virginia is also responsible for payables for Eastern’s corporate operations.

Prior to joining Eastern Real Estate in 2022, Virginia served as an Office Manager at At Home Real Estate,
where she handled the accounts payables and receivables, bank reconciliations, and assisted many
clients with rental assistance applications.

Outside of the office, Virginia is a freelance graphic designer.  Virginia is an avid traveler, talented
photographer, and enjoys spending time reading and painting.