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STEVEN E. WHEELER NEW MANAGING DIRECTOR AND MEMBER OF EXECUTIVE COMMITTEE FOR COPLEY REAL ESTATE ADVISORS

 BOSTON, June 15 /PRNewswire/ -- Joseph W. O'Connor, chief executive officer of Copley Real Estate Advisors, announced today that Steven E. Wheeler has agreed to join the company as a managing director and member of the executive committee. He is expected to spearhead a major new business initiative at Copley which seeks to capitalize on real estate securitization opportunities.
 Copley Real Estate Advisors, Inc., with nearly $11 billion of assets under management is one of the nation's largest managers of real estate equities. The company provides management services for a variety of investment products, including open and closed-end funds, and separate accounts for larger sized tax-exempt investors. It is an affiliate of New England Investment Companies, Inc., a Boston-based holding company of ten investment affiliates with nearly $57 billion in assets under management. In connection with his securitization role, Wheeler is expected to devote considerable time and attention to Copley Properties, Inc. (AMEX: COP) an AMEX-listed, industrial property real estate investment trust advised by Copley Real Estate Advisors. Copley expects to recommend to the board of director of Copley Properties, Inc. that Wheeler be elected as director and CEO of the company in the near future.
 As a managing director of Copley Real Estate Advisors and a member of its executive committee, Wheeler will lend his considerable experience and expertise to the management of Copley's overall operations with particular emphasis on new product areas.
 O'Connor stated that he is very pleased Wheeler has accepted the position as he brings a wealth of real estate and general business experience to Copley that will supplement current management. Previous positions include chairman and CEO of Hancock Realty Investors which manages a $2 billion equity real estate portfolio and managing director and co-head of all real estate activities for Morgan Stanley Group, Inc. Wheeler received a B.S. from the University of Virginia, an M.S. from the University of Michigan and an M.B.A. from Harvard University.
 -0- 6/15/93
 /CONTACT: Christina Thomas, 617-578-1295 or John Moynihan, 617-578- 1739, both of Copley Real Estate/
 (COP)


CO: Copley Real Estate ST: Massachusetts IN: SU: PER

CM -- NE010 -- 2307 06/15/93 16:27 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
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