Press Release - SYNERGY NEWS

Boston, MA-June 4th 2007 Synergy –a Boston-based real estate investment and development company today announced their purchase of 25-55 Morrissey Boulevard in Dorchester, MA, from Pappas Enterprises, Inc. CB Richard Ellis New England represented Pappas Enterprises, Inc and procured the buyer, Synergy. The sales price was $34 million.

Ms. Dympna Minnock, a vice-president of Synergy said that “ the strong in-place income combined with the immediate and long term development potential made this transaction very attractive.” She added .”Synergy looks forward to working with the various constituents to ensure that a well thought out development plan is implemented.”

25-55 Morrissey Boulevard consists of 9.03 acres with four contiguous parcels, strategically located two miles from downtown Boston situated adjacent to Interstate 93, the JFK/UMass Transit Station and Morrissey Boulevard. It is close to Boston College High School, the University of Massachusetts Boston, and the JFK Library and Museum. The property consists of: A 61,800 sq. ft. Shaw’s Supermarket, a two-story office building totaling 42,192 sq.ft occupied by Greater Media, 2.13 acres of undeveloped land, and two billboards which overlook Interstate 93.

Synergy is a Boston-based real estate investment and development firm, founded by David Greaney in 2004. Synergy’s primary focus is identifying investment grade assets and residential development opportunities in the New England region.  The Company has successfully completed $150 million in acquisitions with an additional $100 million scheduled for the remainder of 2007. Synergy currently controls and manages approximately 500,000 square feet of property in Greater Boston.

For further information contact Dee Minnock, Synergy @ 857-498-1683, Email DMinnock@synergyboston.com