BOSTON (October 10, 2007) – Aaron Binkley recently won this year’s Thesis Award from MIT's Alumni Association for the Center for Real Estate (AACRE). The award is sponsored by New Boston Fund, Inc., a real estate investment, development and management firm.
The annual fellowship is awarded to a graduating student whose thesis work exemplifies a high level of excellence, and has the potential for meaningful contributions to the MIT Center for Real Estate, the real estate industry, and society as a whole. Candidates are nominated by a faculty advisor and the winner is chosen by an outside nominating committee.
“The AACRE Thesis Award recognizes the cutting edge real estate research that is being performed by students who are the future of our industry,” said Jerry Rappaport, Jr., president and CEO of New Boston Fund. “New Boston Fund is committed to sponsoring this scholarship because it recognizes an outstanding individual who will go on to make significant contributions as a change leader in the real estate business.”
Aaron Binkley’s thesis examines the potential economic impact of reducing green house gas emissions through low-cost energy-efficiency improvements in real estate. His research concludes that the opportunities for value creation resulting from energy-efficiency improvements in existing buildings and the sale of offsets in emerging greenhouse gas markets are substantial. “Carbon emission regulations are in the near future,” said Binkley. “I wanted to research how companies can start now to reduce their carbon footprint while also capturing additional value.” Binkley graduated this past September with a Master of Science in Real Estate Development degree.
“Aaron’s thesis was unique because it focused on the value of potential energy efficiency improvements in existing, rather than new buildings,” said Binkley’s academic advisor, Tony Ciochetti, Ph.D. “As a result of this thesis, Aaron has been invited by one of the largest industrial REIT’s in the world, AMB Property Corporation, to identify new initiatives that promote the company’s sustainability objectives globally.”
New Boston Fund is committed to be the ongoing sponsor of the annual fellowship for many years to come.
About New Boston Fund
New Boston is an independent, privately owned real estate investment manager and an industry leader in providing real estate investment, development and management services with a history of strong sponsorship and oversight of its investment funds. New Boston has developed or acquired commercial and residential properties with a cumulative market value of about $4.0 billion including 20 million square feet of commercial real estate and 6,700 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban real estate investment funds with a focus on diversification and capital preservation. New Boston Fund: People, Values, Returns.
About the MIT Center for Real Estate
MIT founded the Center for Real Estate in 1983 to improve the quality of the built environment and to promote more informed professional practice in the global real estate industry.
Educating the men and women whose innovations will serve the industry worldwide, we are home to the first-ever one year Master of Science in Real Estate Development (MSRED) degree, as well as an integrated suite of professional development courses.
Our pioneering research investigates the real estate transaction from initial concept to market reality, providing breakthrough knowledge that helps organizations to capitalize on today's dynamic markets and technologies.
Uniting industry leaders with MIT's distinguished researchers and students, our selective industry partnership program advances the art and science of international real estate, and bridges the gap between theory and practice.
