Gemini Real Estate Advisors Acquires the 36th Street Comfort Inn Hotel

New York, NY, January 22, 2008 - Will Obeid, President of Gemini Real Estate Advisors, LLC, announced today the acquisition of the 36th Street Comfort Inn, located at 442 West 36^th Street between 9^th and 10^th Avenues, New York, NY.  The acquisition closed on January 14, 2008.

The 36^th Street Comfort Inn is a 56 room, select service hotel that is ideally located in the Midtown West neighborhood of New York City.  The hotel is well positioned in a dynamic part of the city, as it embraces the area’s continued development boom led by the multi-phased $4 billion Hudson Yards redevelopment project and the $1.7 billion expansion of the Jacob Javits Convention Center.

Mr. Obeid said, “We think that the west side of midtown Manhattan is a great place to invest in hospitality assets.  This hotel is well positioned to capture the growing number of business and leisure travelers to New York, and there are a lot of positive demand drivers in this sub-market.  In addition to the strong fundamentals that continue to drive the NYC hospitality market, we’re also looking forward to the Jacob Javitz Center expansion and the Hudson Yards Redevelopment initiative.”

According to Smith Travel Research, New York City commanded the highest revenue per available room (RevPar) of any city in the United States during 2006.  Forty-four million visitors traveled to Manhattan in 2006, resulting in the highest tourism year on record.  Recent Reports by HVS International and PricewaterhouseCoopers expect RevPar growth of 12% in 2007 and continued double-digit growth in 2008 and 2009.

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 commercial real estate. Gemini’s current portfolio is made up of over 3.5 million square feet.