New Boston Fund and Meredith & Grew Announce Sale of 10 Fawcett Street

Boston, Massachusetts (1/24/2007) - New Boston Fund Inc., a real estate investment, development and management firm, recently announced the sale of 10 Fawcett Street to Synergy. Meredith & Grew represented New Boston Fund, Inc. in the transaction and procured the buyer, Synergy. Specifics of the transaction were not disclosed.

"This property has been a part of the New Boston family of assets for the past ten years, and has been a solid and consistent performer," says Jon Gillman, Senior Vice President of Asset Management for New Boston Fund. "The Alewife submarket is strong and we believe it will continue to perform very well. We look forward to working with Synergy through our continued management of the property and we thank Synergy and Meredith and Grew for the ease with which this transaction was executed."

"We are very excited to begin the year with the acquisition of 10 Fawcett, and look forward to expanding our portfolio in 2007," said David Greaney, President of Synergy.

Constructed in 1985, 10 Fawcett Street is a first-class 130,304-square-foot, six-story office building located in the heart of the Alewife submarket in Cambridge, Massachusetts. The building features an on-site caf?, refurbished common areas and 287 parking spaces, 244 of which are structured including 46 garage spaces. It is easily accessible from Boston, Route 2, and the Massachusetts Turnpike and is a half mile from the Alewife MBTA station, providing subway, bus service and a 2,595-car parking facility. The property is adjacent to the 315-acre Fresh Pond Reservation which includes a nine-hole golf course and a three-mile trail network. The area is serviced by numerous restaurants, hotels and retail amenities.

About New Boston Fund, Inc.

New Boston Fund is a privately held real estate investment and development company led by seasoned real estate practitioners and known for its exceptional returns for investors. New Boston has developed or acquired commercial and residential properties with a cumulative market value of over $3.3 billion including 19 million square feet of commercial real estate and 5,500 residential units. Our investment vehicles cater to institutional and high-net worth investors by offering value add and urban strategy real estate funds. The New Boston Fund: People, Values, Returns.

About Synergy

Synergy is a Boston-based real estate investment and development firm. Founded by David Greaney in January 2004, Synergy`s primary focus is identifying investment grade assets and residential development opportunities in the New England region. Although a relatively new player in the industry, Synergy have successfully completed $130 million in acquisitions with an additional $100 million scheduled for 2007. Synergy currently controls and manages approximately 250,000 square feet of office and retail properties. Through its development activities it has delivered approximately 100 residential units to the market with a further 150 residential units at various stages of completion.

About Meredith & Grew

Meredith & Grew (www.m-g.com) is a Boston-based, privately-held commercial real estate company with integrated service groups including Brokerage, Capital Markets, Counseling & Valuation, Development & Advisory, Investment Sales, and Property & Asset Management. In addition to representing its core clients in greater Boston and New England, Meredith & Grew provides national and international real estate services to its multi-market clients as a member of ONCOR International and an owner/member of Strategic Alliance Mortgage LLC (SAM).