As a 25-year veteran of the acquisitions and development field, Pecar was previously a senior executive with Melvin Simon & Associates and O'Connor Management in California, where he was involved in the development and acquisition of retail and office properties. He will join senior vice president of acquisitions Phillip Bakalchuk and CIO and co-managing director of the firm's Urban Strategy America Fund John Dragat.

New Boston is currently developing Vista Club in Orlando and Gallery Arts condominiums in Miami. Vista Club is a 246-unit condo hotel project set to open in the fall that is being developed in partnership with Buena Vista Hospitality Group. It features units ranging in size from 330 sf to 567 sf that are priced from $165,000 to $235,000. The Gallery Arts condominiums is a 187-unit project at NE 24th Street near Biscayne Boulevard that is being developed in partnership with locally based HH Development.

The company also recently acquired the Preserve at Deer Park, a 448-unit garden-style apartment community in Lutz. The complex is comprised of 45 two and three story walk-up buildings.