Athena Real Estate has hired Matthew Allen as a vice president, business development. Allen faces the task of growing Athena's investment portfolio and institutional advisory business, generally through asset and property management services.

Allen worked previously for a large Connecticut private owner and operator of approximately 10 million square feet of class A and B office properties. He also worked with a private real estate investment trust with approximately $700 million of total assets. He graduated with a master's in business administration from Dartmouth University's Tuck School of Business in 2003.

Richard OBrien, chief Executive Officer and founder, stated in a news release he expects 2011 to be a solid year for acquisitions in targeted sectors. Likewise, O'Brien points to an increase of real estate for sale, which should lead to a reduction in prices, and predicts the spread between buyers and sellers will close over the next year, resulting in a favorable acquisition market.

Based in Danbury, Conn., Athena Real Estate LLC is a real estate investment and services firm focused on small property types, including self-storage facilities, mobile home parks, RV parks and resorts, and multifamily homes. Athena operates with 25 employees in five states: Florida, North Carolina, Georgia, New York, and Connecticut, and was founded in 2004.