| 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. |