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Gerard Savard is a principal at Abbott Real Estate Development LLC. Until 1996, Gerard Savard served as Vice President of Fleet Real Estate Capital, Inc. (FREC), a wholly owned subsidiary of Fleet Financial Group. FREC provided real estate portfolio management and loan servicing to clients such as Lehman Brothers, Aetna, and Aldrich, Eastman & Waltch and managed over $2 billion of assets.
While at FREC, Mr. Savard managed the equity real estate group which consisted of 9 professionals responsible for over 100 assets with a combined value of $200 million. Mr. Savard was responsible for maximizing the liquidation value of distressed assets and selling them. In addition to selling nearly $200 million of real estate, Mr. Savard was personally involved in the successful redevelopment of several large holdings, and he managed the due diligence efforts on two portfolio acquisitions that resulted in $180 million of new business.
Before joining FREC, Mr. Savard was a senior manager at Pertinax Properties, where he was responsible for developing a 110-unit senior living condominium project, a 6-unit assisted living project, and office buildings of 138,000 square feet, 140,000 square feet, and 205,000 square feet.
Mr. Savard's prior experience included development work on affordable housing sites in the City of Boston; asset management experience with John Hancock Properties where he was responsible for the planning of a 120,000 square feet office development in Bellevue, Washington; asset and partnership management with First Winthrop Corporation where he represented the firm in its capacity as general partner in numerous development projects including Presidential Towers (Chicago, $220 million); One Financial Place (Chicago, $160 million); River City (Chicago, $60 million); and The Atrium (Lincoln, Nebraska, $16 million); and as a project manager for the City of Boston's Public Facilities Department where he planned and implemented $17 million of capital improvements to city-owned facilities.
Mr. Savard has also served as a consultant to the City of Boston School Department providing capital budgeting and operating recommendations. He has also provided construction project management services to NYNEX and Teradyne Corporation.
Mr. Savard is a graduate of Boston College and received a Masters in Business Administration with an emphasis in finance from Northeastern University.