One of the biggest names in Boston real estate is bowing out.
Robert Beal is retiring from his role as president of Related Beal, the development firm that bears his family name.
In nearly four decades at the company, Beal and his brother Bruce – who remains chairman of Related Beal – launched high-profile projects ranging from the rehab of the Custom House Tower to some of the first life-science developments in Cambridge and Lexington. Three years ago they partnered with New York-based real estate giant Related Cos., to form Related Beal, which has pushed ahead a slew of major projects in Boston’s current building boom.
Beal – who’s long been a fixture on lists ranking the most powerful Bostonians – also serves on a who’s who of civic boards, including the local United Way and the Museum of Fine Arts.
He plans to stay active in those efforts, even as – at age 74 – he steps back from the day-to-day grind of development work, handing the reins to a younger generation, including nephew Bruce A. Beal, Jr. and Boston-office chief Kimberly Sherman Stamler.
“I am extremely proud of the impact we as a firm have had on the Greater Boston area,” Beal said.Tim Logan can be reached at firstname.lastname@example.org. Follow him on Twitter at @bytimlogan.