The Lexvest Group was founded by Eric D. Shapiro. Shapiro began investing in real estate in 1987, purchasing distressed condominiums in the greater Boston area during the early 1990’s real estate crisis. He has served in various capacities of business management throughout his career until 1998, after acquiring a 300,000 square foot mill in Shirley, MA (now known as Phoenix Park). Thereafter, Shapiro decided to focus his career exclusively in real estate. From 1999 to date, The Lexvest Group has acquired and or developed both residential and commercial project including numerous multi-family apartments and condo conversion projects throughout Massachusetts, as well as various commercial and mixed-use projects.
The Lexvest Group’s focus has been in value-added investments and development projects, which includes identifying underperforming and often undervalued properties and the creation and management of a full team to reposition each asset. A few such examples in which both properties were functionally obsolete, include Phoenix Park, the Battle Green Inn, a 95-room hotel property in the historic center of Lexington, Cape Colony Inn a 57-room motel in Provincetown, and most recently Prince of Whales, a 25-unit cottage community in North Truro, MA.
Our executive team collectively has over 40 years of experience in the investment and development of real estate in Massachusetts, with deep local market knowledge and long-standing local relationships. The scope and breadth of the management team’s activities combined with their well-known reliability and relationship approach has historically resulted in a substantial flow of proprietary investment opportunities.
The Lexvest Group maintains focus on its objectives and thinks outside the box to create additional value, with a firm belief that investment objectives are achieved through careful and continuous management.