Related formalizes partnership with Boston-based Beal Companies
Related Companies is formalizing a decade-long partnership with Boston-based Beal Companies by creating Related Beal, the developers announced today.
“We have long believed in the Boston market and see great potential to create a strong pipeline of development and investment deals in the area,” Jeff Blau, CEO of Related, said in a statement.
A Related spokeswoman told The Real Deal that the partnership will focus on residential, mixed-use and biotech opportunities, which Beal specializes in.
The companies first came together on the One Back Bay rental apartment complex and the Clarendon condominium developments. Today, they are collaborating on the redevelopment of Lovejoy Wharf, which will include Converse’s U.S. headquarters.
The partnership also is “evaluating several opportunities at this time,” the Related spokeswoman told TRD; she declined to give details, however.
Bruce Beal and Robert Beal oversaw Beal Companies, established in 1878, and now will serve as Related Beal’s chairman and president, respectively. Beal did not immediately respond to requests for comment. — Hayley Kaplan