"During David Gaw's 18 years with the company, the last 3.5 years as CFO, he has overseen the development of a first-class finance and accounting operation and the transition from a privately held to publicly owned real estate company," Boston Properties president Edward T. Linde, Douglas's father, said in making the announcement.

Boston Properties co-founder Mortimer B. Zuckerman praised the new CFO for his "extensive financial knowledge and transaction skills," adding that, "expanding his responsibilities fits extremely well into the company's long-range management plans."

Douglas Linde certainly has plenty to do in his new role at Boston Properties, among the most active REITs in both new construction and acquisitions since going public in 1998. In a separate action, for example, the firm confirmed it has acquired 265 Franklin St., a 21-story, 327,000-sf office building in Boston's Financial District, for $97 million. The sale from Westbrook Partners is part of a joint venture agreement with the New York State Common Retirement Fund.