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Northridge Capital, LLC Acquires the 58 room
Hotel Telluride in Telluride, Colorado;
Intends to Convert into Condo Hotel

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WASHINGTON, D.C. (May 11, 2005) Real estate investment and asset management company, Northridge Capital, LLC recently acquired The Hotel Telluride, a boutique hotel located in Telluride, Colo. with the intent of converting the 58 hotel rooms into condominium units. The hotel will remain open during renovation and
upscale condo units will be available for purchase this summer.

"Given the very high barriers to enter the Telluride real estate market, we look forward to offering vacation residences with luxury hotel services and amenities close to the slopes," says David W. Jackson, president of Northridge Capital. "We believe there is unsatisfied demand for high quality condominium-hotel units in Telluride and this property will fulfill the needs of consumers."
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In addition to adding kitchenettes, Northridge plans to add connecting lock-off doors to create two, three and four bedroom suites. Once the project is complete, it will be the newest condominium-hotel in the town of Telluride.

Northridge has selected Premier Resorts to manage the condominium-hotel given their operational expertise in other U.S. ski destinations.

The hotel, which opened in September 2001 and offers a restaurant and bar as well as a day spa, is the only lodging in Telluride rated and listed by Travel & Leisure in 2005. The hotel was also selected as a 2005 Gold List property by Condé Nast Traveler as one of the top 700 places to stay throughout the world. Located in the historic district within the town of Telluride, the hotel is close to the ski slopes, boutiques and upscale restaurants. Exquisitely decorated with an upscale style, The Hotel Telluride provides guests mesmerizing mountain landscapes and scenery set on acres of panoramic views of the San Juan Mountains.

About Northridge Capital, LLC
As an independent real estate investment and asset management firm, Northridge Capital has successfully generated superior risk-adjusted returns to investors since its inception, demonstrating the ability to acquire, manage and sell real estate assets across a wide variety of property types.  Based in Washington, DC, the company has invested in 31 assets on behalf of its investors, with a combined acquisition value of more than $580 million.  Northridge Capital draws upon its substantial network of domestic and international relationships, extensive credit market expertise, operating and management capabilities to implement U.S. real estate investment programs on behalf of its clients. 

Contact:
Northridge Capital, LLC
Kevin J. Fay, Vice President
(202) 625-7890
www.northridgecapital.com
www.thehoteltelluride.com
Also See: The Peaks in Telluride, Colo. Constructing 35 Luxury Cabins (100 rooms); Wyndham Will Manage the Expansion / Jan 2002
Sony Founder Akio Morita, Buys Out Ron Allred and Jim Wells, Longtime Owners of Telluride Ski Area / Mar 2001 

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