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Spectrum Financial to Merge with Legg Mason Real Estate

WALTHAM, MA-Spectrum Financial Corp. will merge with Philadelphia-based Legg Mason Real Estate Services. The 30-year-old Spectrum will continue to operate out of its offices in Watermill Center here, under the name Legg Mason Real Estate Services/Spectrum Financial.

By Naomi Grossman | Updated on July 30, 2001

WALTHAM, MA-Spectrum Financial Corp. has announced plans to merge with Philadelphia-based Legg Mason Real Estate Services. The 30-year old Spectrum will continue to operate out of its offices in Watermill Center here. The new company will be called Legg Mason Real Estate Services/Spectrum Financial.

For Spectrum, the deal will represents a shot at grabbing the national spotlight while accommodating its expanding client base, while Legg Mason stands to achieve its goal of expanding into the Boston area.

“Basically we wanted some national exposure and they were looking for an office in Boston,” says Stan Sidel, a principal with Spectrum. “The more we got into it the more we realized it was a good idea. We can give our clients access to the services they provide and it gives us access to their offices along the eastern seaboard.” Sidel and Joseph J. Hegenbart will continue to manage the offices here.

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