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Wheelock Street Capital Acquires the 297-room
Hilton Houston Westchase in Texas

GREENWICH, Conn.- January 8, 2013 --Wheelock Street Capital announced today that an affiliate of Wheelock Street acquired the Hilton Houston Westchase Hotel located in Houston, TX within the Westchase District of Houston.

On December 17th, Wheelock Street acquired the Hilton Houston Westchase from an affiliate of Interstate Hotels & Resorts. The terms of the transaction were not disclosed. Hilton Westchase opened in 1980 and features 297 guestrooms, 11,200 square feet of meeting space and the Rio Ranch Restaurant. The hotel is located on Westheimer Road, in the middle of the Westchase District, a submarket with over 18 million square feet of office space. The Westchase District comprises over 1,500 businesses, including major employers such as Chevron, Dow Chemical, Halliburton, Jacobs Engineering, MI Swaco, BMC Software, and ABB. Phillips 66 recently announced that it will build its new global headquarters on a 14-acre parcel of land located one mile west of the Hilton Houston Westchase. Interstate Hotels & Resorts, one of the nation's leading independent hotel management companies, will continue to manage the hotel on behalf of Wheelock.

“The Hilton Houston Westchase represents our sixth full-service hotel acquisition in 2012 and our second in the Houston market,” said Patrick Campbell, a Principal of Wheelock Street Capital. “Upon completion of a planned property renovation, the Hilton Westchase will be well positioned to benefit from tremendous ongoing economic growth in Houston created by the expanding energy industry.”

About Wheelock Street Captial
Wheelock Street Capital, L.L.C. is a real estate private equity firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul. Wheelock Street pursues a highly focused, fundamentally-driven investment strategy. Backed by established institutional capital, Wheelock closed its latest investment fund in November 2011. The company focuses on real estate investments throughout North America and will invest in both public and private market opportunities and in all parts of the capital structure. Wheelock Street Capital, through its proprietary hotel platform, currently owns 22 hotels with approximately 4,580 rooms.
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Contact:

Wheelock Street Capital
Tim Hodes
203-413-7719
hodes@wheelockst.com



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Also See: Wheelock Street Capital Acquires 15 Hotels in Two Separate Transactions for an Aggregate Purchase Price of $221 Million / September 2012

Wheelock Street Capital Acquires the 242-room Marriott Pleasanton in California; The Pyramid Hotel Group will Continue to Manage the Property / July 2012

Wheelock Street Capital Acquires the 380-room DoubleTree Suites by Hilton Hotel in Houston, Texas / February 2012

Wheelock Street Capital Completes Acquisition and Conversion of the Former Renaissance Agoura Hills into the Sheraton Agoura Hills Hotel in Agoura Hills, California; Davidson Hotels & Resorts will Continue to Manage the 280-room Property / July 2011

Affiliate of Wheelock Street Capital Acquires the 403-room Radisson Hotel in Bloomington, Minnesota; Davidson Hotel Company Appointed Manager / April 2010



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