February 12
Recently, AAM15 Management announced the purchase of the Kelly’s brand, (Kelly’s Roast Beef, a North Shore sandwich staple), its franchising arm, and the four corporate-owned Kelly’s locations including the original Revere Beach storefront. This marks the first change in ownership of Kelly’s Roast Beef since the restaurant opened in 1951.
North Shore Community College (NSCC) alumnus, David Masse ‘84, is the founder and CEO of AAM15 Management, a private equity firm, which focuses on investments in hospitality, apartments, and student housing.
“Growing up in this region, Kelly’s was always a part of my life. It’s more than just a restaurant — it’s a symbol of community and tradition,” said Masse, in a recent interview with the Lynn Daily Item. “We’re proud to take on the responsibility of continuing Kelly’s legacy and ensuring it thrives for generations to come.”
Masse has come a long way since graduating from Beverly High School, when college seemed completely out of reach. He found his passion for business at NSCC while working to support himself through school, the beginning of a hard-earned successful career in commercial banking real estate. In 2022, Masse turned his journey into an opportunity for determined students like him by sponsoring the first-ever scholarship to cover the entire cost of an associate degree at NSCC.
“I believe in giving back, because when I was financially challenged, I wish I had the opportunity to get help like I can provide someone today,” said Masse. “Attending NSCC was a critical step in my career aspirations. The education and guidance I received from the college were instrumental in launching my career path with a strong foundation.”
In 2024, Masse was named an NSCC Champions Award Honoree, in recognition of Philanthropy & Volunteerism.
After NSCC, Masse graduated from Salem State University and completed the Bank of New England Executive Commercial Lending Training Program. He has been involved with over $3.5 billion of real estate transactions in his nearly four-decade career.
A resident of Ipswich and parent of two college students, Masse serves on the Beth Israel-Lahey Clinic President’s Council and the Cabot Theater Board of Directors.