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Barry Real Estate Companies Partners with Starwood to Build
the W Atlanta Downtown Hotel & Residences;  28-story Tower
Will Have 237 Hotel rooms and 76 Condominiums 
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ATLANTA - Sept. 21, 2006 -- W Hotels Worldwide, the fastest growing luxury brand in the world, announced today plans for a new hotel in downtown Atlanta. Barry Real Estate Cos. and Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT), W's parent company, have reached an agreement to build the W Atlanta Downtown Hotel & Residences, a mixed-use tower that will be part of Atlanta's Allen Plaza. 
When its doors open in 2008, the W Atlanta Downtown Hotel & Residences will be the brand's first new-build property in metro Atlanta. The 28-story tower will be constructed at 45 Ivan Allen Jr. Blvd. and will feature 237 hotel rooms, 76 luxury condominiums and 10,000 square feet of meeting space. Adding to the prestige of this project, the hotel will boast the city's first hotel-topped heliport to whisk guests and residents from downtown to a variety of points across the metro region. 

World-renowned Pickard Chilton Architects is designing the building with floor-to-ceiling glass and an outdoor terrace, while BurdiFilek Interior Design out of Toronto is completing the vision for the interior spaces, including the condominiums. 

The condominium residences will blend the best of all worlds - the comforts of home combined with the extraordinary experiences available at W Hotels. Owners will have full use of all of the hotel's facilities including the pool, spa, and fitness center, as well as access to W's famed Whatever/Whenever concierge service that can provide whatever residents or guests want -- from a pair of running shoes to private jet service -- whenever they want it. In addition, residents may arrange for 24-hour room service, daily housekeeping and valet. 

The W Atlanta Downtown Hotel & Residences will also offer the ultimate luxury to hurried business travelers and guests: a rooftop heliport to bypass traffic. 

"Special business guests and residents will fly to our hotel via helicopter after arriving at Peachtree-DeKalb or Charlie Brown airports," said Hal Barry, founder and chairman of Barry Real Estate Cos. "I envision celebrities and other VIP guests avoiding traffic and crowds by flying to their suites or homes aboard our helicopter." 

Additionally, the project will include a signature restaurant, bar, and, as part of W's exclusive partnership with bliss, the beauty brand beloved by celebrities and fashion insiders, the W Atlanta Downtown will open with a luxurious bliss Spa. 

The luxury condominiums above the hotel will be marketed to Atlanta's growing professional community seeking a home in the city. Coldwell Banker The Condo Store has been hired to market and sell the property. Construction on the foundation and parking deck underneath the structure has already begun and work on the tower is expected to begin in the first quarter of 2007. 

"The W Atlanta Downtown Hotel & Residences is an exciting addition to the quickly expanding downtown landscape," said Chris Schoen, CEO of Barry Real Estate. "The project will feature the highest level of design and architecture - unlike anything else in Atlanta - and will reinvent the hotel experience. It will provide a unique facility for luxury business and leisure travelers, as well as the best choice for residents who wish to own a piece of the W lifestyle." 

Starwood's W Atlanta Downtown Hotel & Residences represents the hotel giant's new generation of designs as it aggressively expands its footprint around the globe. "We are pleased to partner with Barry Real Estate Companies to bring W Hotel's brand of exceptional service and world-renowned design to Allen Plaza," said Steven J. Heyer, CEO of Starwood Hotels. "The resurgence taking place downtown is exciting, and we want to be a part of the momentum. Allen Plaza is a superb location, and we feel the area is primed for the first-class hotel and living accommodations we will provide." 

Ross Klein, president of W Hotels, said, "The W Atlanta Downtown Hotel & Residences will create a place where comfort meets cool, where innovative design flirts with fashion, food, art and everything in between. W Hotels provides an escape from the mundane, blossoming beyond simply a hotel to become an influential and innovative lifestyle authority. This evolution has made for exciting times for the brand, and we're glad to bring this ground-up project to Atlanta." 

Situated at the confluence of the Downtown Connector, Ivan Allen Jr. Blvd., Williams and Spring streets, Allen Plaza has grown into a more than $1 billion mixed-use development, covering several city blocks. Allen Plaza is steps away from the Georgia Aquarium, the new home of the World of Coca-Cola and Centennial Olympic Park. 

Allen Plaza already has attracted Southern Co., a Fortune 500 company, and Ernst & Young, an international consulting firm. Southern Co. moved into its new headquarters at 30 Allen Plaza in early 2006. Ernst & Young will move into 55 Allen Plaza in spring 2007. 

The Allen Plaza development is named for Ivan Allen Jr., the late Atlanta mayor who played a critical role in bringing the city together, promoting its central business district and making Atlanta an area that could attract world-class corporations. 

No other development in metro Atlanta has all the elements represented at Allen Plaza: premier class "A" office towers with unparalleled access and visibility, luxury hotels surrounded by high-rise condominiums, first-class, street-level retail in a great walking district and a vision that can be traced to one of the city's great mayors. 

About W Hotels 
W Hotels is a global lifestyle brand with 20 properties in the most vibrant cities around the world. Inspiring and indulging its guests with thoughtful, refreshing and stylish experiences, signature restaurants, bars and destination spas, W has become the fastest growing luxury hotel brand in the world. Each hotel offers a unique mix of innovative design, comfort and cultural influences from fashion to music to art and everything in between. Recent openings include W's first property in Asia, W Seoul - Walkerhill, its first property in Canada, W Montreal and its first residential property, the W Dallas Victory Hotel and Residences. Other W Residences have been announced for Las Vegas, Hollywood, South Beach, Phoenix, Scottsdale and Hoboken. Internationally, W has announced plans for hotels in the Maldives, Barcelona, Hong Kong, Shanghai, Santiago and Dubai. For more information, visit www.whotels.com. 

About Starwood Hotels and Resorts Worldwide, Inc. 
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood(R) Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, W(R), Le Meridien(R) and the recently announced aloft(SM). Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. www.starwoodhotels.com. 

About Barry Real Estate Cos. 
Founded in 1995 by Hal Barry and Chris Schoen, Barry Real Estate Cos. is a full-service commercial real estate firm specializing in office development, marketing and management, with a primary emphasis on the southeast. Barry Real Estate Cos. has been responsible for the development and renovation of approximately 3.5 million RSF of office space, with major tenants including General Electric Company, Nike, Ernst & Young, Fortis, EarthLink, The Travelers Insurance Company, Toyota Motor Credit Corp., Nortel Networks, The Hartford, Bradley, Arant, Rose & White, Cingular Wireless, Lafarge North America and Transamerica. Barry Real Estate Cos. also recently completed the development of the new Southern Co. headquarters at Allen Plaza in downtown Atlanta. Barry Real Estate Cos. has established a niche in the constantly changing real estate marketplace by operating under a tenant-driven development and service-oriented strategy. www.barrycompanies.com

About Coldwell Banker The Condo Store 
The W Atlanta Downtown Residences is exclusively marketed by Coldwell Banker The Condo Store, a full service sales and marketing company with expertise throughout the nation in marketing properties of distinction from concept to closing. The highly successful real estate brokerage firm specializes in selling condominiums, lofts, luxury high-rises, cluster homes and townhomes. For more information, please visit www.condostore.com.

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Contact:

 Barry Real Estate Cos., 
Atlanta
Bryan Long, 404-724-2501
blong@jacksonspalding.com

 

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Also See: Developer Beau King Teams Up with Kimpton Hotels for a Planned $100 million 230-room Palomar Hotel with 38 Condominium Units in Midtown, Atlanta / August 2006
Novare Group and Wood Partners Developing the TWELVE Hotel and Residences, 404 Condos and 101 Hotel Rooms in Midtown Atlanta / April 2004

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