Hotel Online Special Report

2005 A Record Year for Pinnacle Realty Investments
with $1.4 Billion in Hotel Transactions
Boston, Massachusetts – January 27, 2006 – Pinnacle Realty Investments (PRI) announced today that transaction volume was a record $1.4 billion in 2005.  According to Managing Partner Matt Kenney, this was the most active year for transactions in the company’s history.

“This was a great year for us”, said Mr. Kenney. “Not only did we break a company record for transaction volume but we were also involved in several high-profile transactions including the sale of the 800 room Westin Copley Place in Boston for $324 million and the 189-room Courtyard by Marriott in Brookline, Massachusetts that sold for a record $290,000 per key.  We were also very busy in other parts of the country with large transactions in Los Angeles, Chicago, Miami, Atlanta, and St. Louis.

Looking toward 2006 Kenney is very optimistic about the prospects for the industry.  “We expect that most major markets will see improved performance which will lead to higher values.”  Additionally, Kenney indicated that he expects transaction volume to remain strong provided there are no dramatic changes in the capital markets. 

Speaking specifically of the prospects for PRI in 2006, Mr. Kenney said, “we have several exciting deals already in the pipeline that we hope to be able to announce in the next 90 days.”  He cautioned, however, that the firm was committed to providing the highest level of personal service to its clients and thus it may be difficult to replicate the strong numbers achieved in 2005. 

About Pinnacle Realty Investments
Pinnacle Realty Investments is a national boutique hotel real estate brokerage firm specializing in transactions, mortgage capital and equity sourcing.  For more information contact Matthew Kenney at (617) 523-0001. 

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Contact

Pinnacle Realty Investments
Matthew Kenney
76 Canal Street
2nd Floor
Boston, MA 02114
Phone:  (617) 523-0001

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Also See Pinnacle Realty Investments Executes on Over $400 million in Gross Transactions for 2005 Year to Date / July 2005
Pinnacle Realty Investments Continues to Execute on Behalf of its Clients Nationwide / November 2004
Pinnacle Advisory Group Announces Opening of Florida Practice Office / April 2004
Pinnacle Realty Investments the Exclusive Advisor in Securing $47 million in Proceeds for the Refinancing of the 273 room Embassy Suites Hotel at Logan International Airport / April 2004
Pinnacle Realty Investments Arranges Financing for New Kimpton Hotel to be Developed in Downtown Boston / June 2002
Pinnacle Advisory Group Establishes Hospitality Asset Restructuring Services Group / Jan 2002 


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