Robert E. Shapiro

Executive Vice President - Waterford Development Corp

Robert E. Shapiro is Executive Vice President of Waterford Development which he founded with Richard Houlding and Peter D’Amato in 1995. The Company has permitted, developed and sold over 1,000 luxury apartment units, 500,000 square feet of office space, 200 single family homes and 500 condominium units since its inception.

Using a combination of internal and institutional equity the Company has achieved internal rates of return for its investors of over 30%. With the compression in cap rates during the real estate bubble in the 2003-2006 period, the company disposed of its apartment and office properties. These properties included Waterford Place in Manchester, NH; Waterford Commons in Manchester, CT; Waterford Green in Bedford, NH and Sepracor Corporate Center in Marlboro, MA.

Waterford has focused its development efforts in the States of New Hampshire, Massachusetts, Connecticut and Rhode Island. It chooses to develop within a three hour access of the corporate office as active “hands on” involvement in all projects has been one of the key elements in achieving the economic returns.

Prior to forming Waterford Development, Mr. Shapiro served as President of Eastern Operations of Larry Latham Auctioneers. The company was responsible for the disposition of over $500 million of commercial and residential real estate with major clients including the FDIC, RTC, Freddie Mac, Fannie Mae, HUD and a host of financial institutions including Bank of Boston, Shawmut Bank, and First NH Bank.

Mr. Shapiro is a graduate of Emory University. He also serves as Vice Chairman of the Board of Directors of the Central New England Chapter of the National Multiple Sclerosis Society. He is a licensed real estate broker in the State of New Hampshire.