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The Ackman-Ziff Real Estate Group Arranges Financing
for Radisson Hotel Research Triangle Park

July 24, 2008 - Ackman-Ziff has arranged fixed-rate first mortgage financing for the Radisson Hotel Research Triangle Park, located in Durham, North Carolina.  The financing was provided by an international capital source.

The 198-room, full-service property was acquired in 2006 by a leading global real estate investor and fund manager with approximately $11 billion in equity commitments.  The Company’s aggressive asset management and the skilled management team increased NOI by more than 13% within a year of acquisition.  Additionally, the hotel is the only lodging property within Research Triangle Park, one of the country’s most prestigious high-tech research and development centers, a barrier to entry that further enhanced the overall appeal of the asset.

About The Ackman-Ziff Real Estate Group
The Ackman-Ziff Real Estate Group, based in New York City, is one of the leading advisors to the commercial real estate arena, specializing in debt, mezzanine, and equity financing.  With offices in New York, Boston, Miami, and Los Angeles, Ackman-Ziff’s extensive experience is underscored by its $7.4 billion in transactions in 2007. Additionally, Ackman-Ziff’s 2008 acquisition financing of 650 Madison Avenue was “the biggest deal for a Manhattan skyscraper this year,” according to Bloomberg News.  Further information can be found at Ackman-Ziff’s Web site at www.ackmanziff.com.

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Contact:

The Ackman-Ziff Real Estate Group, LLC
110 East 42nd Street
New York, NY 10017
Contact: Gerald Cohen (212) 697-3333
 

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Also See: Svetlin Ganchev, Mark Owens and Linda Yang Join Ackman-Ziff; Will Focus on Debt Placements and Equity Joint Ventures within the Hospitality Group / June 2007
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