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Generation Companies Names Jeff Castleberry
Director, Acquisitions & Development

(RESEARCH TRIANGLE PARK, NC)  June 24, 2007 - The Generation Companies LLC (Generation), a Research Triangle Park-based real estate developer, owner, asset manager and operator of extended stay hotels, recently announced that Jeff Castleberry has joined its Corporate Service Center staff in the newly formed position of Director, Acquisitions and Development. 

A licensed NC real estate broker from Raleigh with more than 20 years of real estate experience, Castleberry was a Senior Vice-President in commercial real estate at Wachovia before launching the mortgage banking firm Renaissance Capital in 1998. His duties at Generation include product analysis and asset management strategy, identifying strategic markets and targeted hotels, active contact and negotiations with owners and the brokerage community, investor and lender packages and presentations, and completing due diligence and overseeing the closing of acquisitions.    
 
“Jeff’s values, background and tremendous amount of experience and knowledge in the real estate and finance areas make him a great fit for Generation,” said H. Mark Daley III, Generation President. “We’ve never had someone dedicated full-time to building and maintaining our acquisition pipeline.  Now, we’re investing in Generation’s future by having a professional dedicated full-time to proactively identifying these opportunities–and with the experience, time and energy to follow up on multi-property and single asset extended stay hotel acquisitions.”

“This is a growth company with extraordinary leadership, an entrepreneurial spirit, and a great product line,” Castleberry pointed out. “When you combine the outstanding track record of Generation, the company’s access to capital, and the resiliency of the extended stay segment, I have a great opportunity to assist Mark and the team in taking the company to the next level of growth.”

The Generation Companies is a Research Triangle Park, North Carolina-based real estate developer, asset manager and operator of extended stay hotels in North Carolina, Virginia, Florida and Tennessee.  Generation has more than 2700 hotel rooms and $200 million in real estate assets under management, and employs over 350 associates at 23 properties.  

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Contact:

 Generation Companies 
Jeff Castleberry
jcastleberry@generationcompanies.com
919.313.7224
www.generationcompanies.com

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Also See: Staybridge Suites Reaches 100th Hotel with the Opening of Staybridge Suites Tallahassee, Florida / March 2007
Laila Oinas Named Candlewood Suites-Sterling Operating Partner / May 2006
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