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Crowne Plaza in Top 50 Growth Market Sold


TAMPA, FL – June 27, 2007 - The Plasencia Group, Inc. announced that it has served as advisor to JDI Realty, an investment and finance firm based in Chicago, IL on the sale of the Crowne Plaza Greenville in South Carolina. The purchaser was Columbia, SC-based Greystone Suites LLC. Terms of the transaction, which was completed in early June, were not disclosed.

“This transaction was a win-win for both parties,” noted Dennis Reed, regional vice president with TPG Hotels. “The sale fit JDI’s strategy of leveraging the momentum of a hotel’s performance to maximize the sale price, while Greystone acquired an asset with plenty of upside in an up-and-coming market which they know very well.”

As part of the deal, the hotel will retain its Crowne Plaza brand. The seven-story, 205-key property is located on 5.4 acres in close proximity to the fast-growing commercial, leisure, and residential submarkets of Greenville and Greenville County. The hotel underwent high-impact renovations to its lobby and guestrooms in 2005. Greenville is situated midway between Atlanta and Charlotte, and was recently ranked #11 in the Top 50 hottest corporate markets in America by Expansion Management magazine.

About The Plasencia Group, Inc.

Founded in 1993, The Plasencia Group is a leading hospitality advisory firm with offices across the country that represents owners of hotels, resorts, and golf courses. In conjunction with its affiliates, Regent Street for luxury properties and Sun Hospitality Advisors for limited- and select-service properties, The Plasencia Group has provided personalized, valued-added investment opportunities and services to clients such as Prudential (NYSE:PRU), Host Hotels & Resorts (NYSE:HST), Hilton Hotels Corporation (NYSE:HLT) and Metropolitan Life Insurance Company (NYSE:MET). The Plasencia Group offers a full range of value-added solutions, including transactions, property valuation analyses, financial and strategic planning, project management and disposition, and proprietary industry research.


Dennis Reed
TPG Hotels
813.932.1234 x.102

Also See: The Plasencia Group Retained by Lane Hospitality for Investment Advisory Assignment / May 2007
The Plasencia Group, Inc. Announces New Hotel Debt Placement Division; Stephen Kindl Named Managing Director / November 2006
The Plasencia Group, Inc. Advises MeriStar Hospitality Corporation In the Sale of Seven Florida Assets / February 2006
The Plasencia Group Expands Sun Hospitality Advisors Division With San Francisco Office / January 2006
Plasencia Group, Inc. Offers Aggressive Lodging Investment Roadmap for 2006 / January 2006
The Plasencia Group, Inc. Advises Islandia Associates, LTD in Sale of Hyatt Regency Islandia Hotel / Jnauary 2006
The Plasencia Group, Inc. Advises Thayer Lodging Group on the Sale of Eight Properties to Pyramid Hotel Advisors, LLC Properties Combine Geographic Diversity, Performance and Growth Potential / July 2005
Robert C. O'Leary Named Vice President of the The Plasencia Group's Sun Hospitality Division / March 2005
The Plasencia Group Is Exclusive Marketing Advisor on Sale of Long Beach Hilton / January 2005
The Plasencia Group Appoints Brian K. Rodgers as Senior Associate, Western Region / Aug 2004
The Plasencia Group Appoints Stephen Kindl as Regional Vice President for the Northeast / July 2004
The Plasencia Group Advises on the Sale of the San Jose Wyndham / July 2004
The Plasencia Group Advises on the Sale of the Marriott Irvine, Orange County, California / June 2004
The Plasencia Group Appoints Eric M. Holtze as Director of Financial Analysis / June 2004
The Plasencia Group Launches Sunbelt Hospitality, Led by Robert Wiemer in Houston / March 2004
The Plasencia Group Advises on the Sale of Interest in the Don Cesar Beach Resort / December 2003
The Plasencia Group Advises on the Sale of the Hilton Garden Inn, Ybor City, Tampa / Sept 2003
The Plasencia Group Appoints Jessica L. Corcoran Director of Marketing and Business Development / Aug 2003

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