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 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 developed both residential and commercial properties 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 of properties which 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.