Boston Andes Capital
BAC has participated in a variety of real estate projects located in the New England area. Assets under management include apartment buildings under construction and existing office and apartment buildings, as well as some pre-development land positions. The firm is dedicated to finding attractive equity real estate opportunities by forming partnerships with local partners who can provide specific product and market knowledge for each investment opportunity.
Real Estate Specialization
| Multifamily |
| Office |
| Land/Development |
Investment Type
| Pref/Mezz equity |
| JV partnership |
Investment Style
| Value-add |
| Development |
James Hughes
- 617-451-7299
- jamesshughes@bostonandes.com
Mr. Hughes is a founder and principal of BAC. Between 1972 and 1986 Mr. Hughes was a Managing Director of Boston Financial Group, a real estate services firm based in Boston, MA, where he was responsible for underwriting equity investments in real estate projects located throughout the United States. The firm arranged financing for over 500 properties valued in excess of $4.0 billion. Between 1986 and 2003, Mr. Hughes was the founder and President of Norwich Corporation which acquired and managed real estate investment property through a partnership investment fund structure. Mr. Hughes has been or is a director of several private and public companies and not-for-profit entities based in the United States and in Latin America. He earned degrees from Dartmouth College, the Thayer School of Engineering at Dartmouth, and the Amos Tuck School of Business Administration at Dartmouth. He has lived in Cleveland, Ohio; Viña del Mar, Chile; and Boston, Massachusetts, and he has a wife, two children, and three grandchildren.
Marcos Flegmann
- 617-982-7987
Marcos Flegmann joined the Boston office in October 2012 and became a partner in 2014. Mr. Flegmann contributes to the underwriting process for BAC investments by negotiating transactions, preparing investment documentation, and presenting investment opportunities to individual investors. Additionally, Mr. Flegmann acts as the CFO for BAC and attends to company administrative matters. A citizen of Mexico, Mr. Flegmann received a degree from Babson College. He is a member of the Boston Rugby Team, which won the USA national championship in 2015, and he is a member of the Mexican National Rugby team.
Renzo Pisa
- 617-982-7985
- rpisa@bostonandes.com
Renzo Pisa joined BAC in 2013 and became a partner in 2015. Prior to joining BAC, Mr. Pisa was an analyst at the Merrill Lynch Real Estate Investment Banking group in New York City. He is currently responsible for asset management of many BAC properties and underwriting new BAC investments, including negotiating transactions, preparing investment documentation, and presenting investment opportunities to investors. Mr. Pisa received a degree from Babson College. He is married and has two young children who bring order to his life.
Thomas Livelli
- 857-233-2068
- tlivelli@bostonandes.com
Mr. Livelli joined BAC in 2016 to focus on new investments in the Boston area and select Latin markets. Prior to joining BAC, Mr. Livelli was a Director with Clark Realty Capital for ten years, where he led development activities for large-scale public-private partnerships, initiated and managed a venture that developed workforce housing communities in Latin America, and headed a FINRA licensed broker-dealer. Earlier in his career, Mr. Livelli worked in the resort development and private equity divisions of Lowe Enterprises in Los Angeles, in business development for a manufacturing company in Chile, and as a management consultant at The Parthenon Group in Boston. He received his Bachelors degree with honors in Environmental Science and Public Policy from Harvard University and his Masters of Business Administration from Stanford Business School. A once avid sailor, Mr. Livelli was responsible for underwriting and participated in a modern day re-creation of the Kon-Tiki expedition in Chile, where he met his wife. They now live in Duxbury, Massachusetts with their two daughters.