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.