Webster Financial Corporation : Webster Bank Provides $36 Million in Financing For Purchase of Historic Boston Office Building

Media Contact : Brenda F. Greene [phone] [e-mail] Webster Bank Provides $36 Million in Financing For Purchase of Historic Boston Office Building

BOSTON, Mass., January 3, 2013 - Webster Bank, a leading New England financial institution, announced today that it has provided Boston-based Synergy Investments with $36 million in financing for the purchase of Two Oliver Street, an historic 11-story office building in Boston's Financial District.
"With this sale, Two Oliver Street has come full circle," said Claudia Piper, senior vice president, commercial real estate for Webster Bank. "In 2011, Webster provided bridge financing to the sellers, Saracen Properties, LLC and AEW Capital Management, so they could renovate this landmark building and bring it back to prominence. Eighteen months later, the dramatically improved building found a buyer in leading local real estate firm Synergy Investments, and we are very pleased that they chose to entrust Webster with their financing needs."
"Webster Bank's keen knowledge of the Boston commercial real estate market -- and especially this building - made them our top choice to finance our purchase of Two Oliver Street," said David Greaney, founder and president of Synergy Investments. "Thanks in part to Webster's excellent service and attention to detail, our December 20th closing went through smoothly and without delay."
With frontage on Oliver, Milk and Batterymarch Streets, Two Oliver Street offers 224,000 square feet of office space in Boston's desirable Financial District, one block from Post Office Square.

About Synergy Investments:

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Synergy is a Boston-based real estate investment and development firm focused on the acquisition and operation of office, retail, and residential assets, and their associated debt. The firm's specific capabilities include acquisition, debt placement, asset management, leasing, property management, permitting, and construction management. Our growing portfolio is approaching 2.5 million square feet across 26 select office properties situated in the commercial heart of one of the nation's most dynamic and desirable real estate markets. Synergy is committed to steady and sustainable growth, and we continue to build our portfolio based on a focused and deliberate investment strategy. For more information, visit www.synergy-inv.com.

About Webster Bank:

Webster Financial Corporation is the holding company for Webster Bank, N.A. With $20 billion in assets, Webster provides business andconsumer banking, mortgages, financial planning, trust and investment services through 167 banking offices; 464 ATMs (290 of which are owned by Webster and 174 of which are branded); telephone banking; mobile banking; and the Internet. Webster Bank owns the asset based lending firm Webster Business Credit Corporation; the equipment finance firm Webster Capital Finance Corporation; and provides health savings account trustee and administrative services through HSA Bank, a division of Webster Bank. Member FDIC and equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at www.websterbank.com or follow us on LinkedInhttp://linkedin.com/company/webster-bank and Twitter https://twitter.com/WebsterBank.