Gemini Real Estate Advisors Acwuires the Shawmut Inn for $11.5 Million

New York, New York, November 20, 2007 - Will Obeid, President of Gemini Real Estate Advisors, LLC, announced today the acquisition of the Shawmut Inn, located in Boston, Massachusetts.  The total acquisition price was $11,500,000.

The Shawmut Inn is a 66 suite, 5 story, limited service hotel located in downtown Boston directly across the street from the TD BankNorth Garden, which is home to the Boston Celtics and Boston Bruins.  The property, which is located at the intersection of Friend Street and Causeway, underwent its last renovation in 1995.  The property currently has 9,000 square feet of retail space on the ground floor.  The hotel will be re-developed and operated as a Holiday Inn Express Hotel & Suites.  Gemini will be responsible for managing the hotel.

“Gemini is very pleased to have the opportunity to reposition this asset in an area of Boston that has undergone vast improvements in recent years”, said Mr. Obeid.  “We think that downtown Boston has great fundamentals for a limited service hotel.  This market has been dramatically underserved, and we’re looking forward to creating value for downtown Boston and our investors through this project.  Holiday Inn Express is a top-tier brand in its category and we are thrilled to be working with them.”

About Gemini Real Estate Advisors, LLC

Gemini Real Estate Advisors, LLC is a full service real estate company specializing in the acquisition, development and management of retail and hospitality assets. Gemini’s current portfolio is made up of over 3 million square feet of commercial real estate.