Leggat McCall Properties

Leggat McCall Properties has worked in Greater Boston real estate since 1965. The firm operates on two tracks that reinforce each other: it develops and invests on its own account, and it acts as owner’s project manager and development manager for institutions building their own facilities. That second line is the larger part of the business, concentrated in higher education, healthcare and life sciences, where clients need someone to run a capital project without becoming a developer themselves. LMP is co-developer with the Joseph J. Corcoran Company on the Bunker Hill Housing redevelopment in Charlestown, a decade-long replacement of 42 buildings of 1940 public housing with 15 new buildings and 2,699 units, designated by the Boston Housing Authority.

The scale of the owner’s-side practice is the part that is easy to miss. Over the past decade LMP has led hundreds of projects representing more than $15 billion in capital investment, including more than 25 individual projects over $200 million and more than 50 over $50 million. As a principal it has developed or acquired roughly $3 billion in assets across mixed-use, office, residential and research and life science property, and it currently carries a $1.5 billion development pipeline.

The institutional client base now runs past 30 tax-exempt, mission-driven organisations. LMP describes that part of the business as working at the intersection of mission and profit — bringing an entrepreneurial approach to real estate problems for universities, hospitals and research institutions that are not in the development business themselves. Named work includes the Shapiro Cardiovascular Center at Brigham and Women’s Hospital, the Science and Engineering Complex at Tufts in Medford, projects at Brandeis in Waltham, the campus plan and global headquarters for The First Church of Christ, Scientist in Boston, and CitySquare in Worcester. At 808 Windsor Street in Somerville the firm’s project earned LEED Platinum certification.

The method is deliberately small-team. LMP deploys compact, scalable groups with the specific subject matter expertise a project needs, sets benchmarks and performance metrics at the outset, and approaches every assignment with what it calls an ownership mindset — a consequence of also being an investor and operator rather than only an adviser.

Three service lines have their own named contacts. Project and development management goes to Ted Finnerty (617-422-7010) or Robert Foster (617-422-7049); advisory services to Mahmood Malihi (617-422-7031) or Sam Cole (617-422-7057); principal investments to Rob Dickey (617-422-7027) or Adelaide Grady (617-422-7014).

The office is at 10 Post Office Square, Boston, MA 02109, on 617-422-7000 or info@lmp.com.