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ResiTrust Expands Influence in Charlotte Hotel Market - ResiTrust Inc. announced today the acquisition of the Suite Carolina, a 68 suite extended stay hotel. Constructed in 1997 the 16,000 square foot building was designed from the ground up for energy efficiency and reduced maintenance - ResiTrust.com
ResiTrust Expands Influence in Charlotte Hotel Market

 

PRZOOM - /newswire/ - West Palm Beach, FL, United States, 2007/01/25 - ResiTrust Inc. announced today the acquisition of the Suite Carolina, a 68 suite extended stay hotel. Constructed in 1997 the 16,000 square foot building was designed from the ground up for energy efficiency and reduced maintenance - ResiTrust.com.

   
 
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Because of its location in Charlotte, the Suite Carolina stands to take advantage of the tremendous growth the city is experiencing. Charlotte is home to Bank of America and Wachovia. It enjoys a large convention center, a NASCAR track, and basketball and football stadiums. More than 1200 condominiums and multiple retail and office buildings are currently under construction. As some of Suite Carolina’s main clientele are contract workers in Charlotte on assignment, this hotel is directly poised to take advantage the city’s ongoing developments.

Located on a prime 1.2-acre parcel of land, the building is 2 stories tall and provides 68 rooms for its guests. Each is equipped with a kitchenette, bureau, nightstand and television with a variety of bed sizes. The hotel is equipped with 69 parking spaces.

“We are very pleased with this recent purchase,” said Acquisitions Director Seth Schwartz. “We brought in a 1st class manager to increase efficiency, raise occupancy, increase yield, and further develop the already successful marketing plan. There is no doubt that this combination of great management and a solid business will provide excellent returns to our investors.” Currently running at 82% occupancy, Schwartz reports that the Hotel has plenty of room to grow and notes that business has been profitable from day one.

ResiTrust Incorporated is a domestic U.S. real estate fund exclusively for non-U.S. investors. Specializing in commercial retail and multifamily housing, it currently owns and operates properties in Florida and North Carolina.

Note: This document is issued by SCI for information purposes only. No representation is being made that any investment or fund described in this document will or is likely to achieve profits, losses or returns similar to those shown. Past performance is no guide to future results. This document does not constitute an offer to sell or a solicitation of an offer to buy shares in any of SCI’s funds. Offer is by invitation only and subscription for shares in the fund can only be made by completing the application form that accompanies the Offering Memorandum. Neither the Fund nor the Fund Manager accept liability from any investors who rely on any information other than that contained in the Offering Memorandum. Projections, forecasts or investment allocation scenarios shown are made for example only and are subject to change, variation, market conditions, currency fluctuations and numerous other factors. Track records shown (if any) are of potential investments and do not take into account fees or expenses. They are not historical performance data for the Fund, as the Fund is new and has no historical data. The Manager believes that the data herein has been obtained from reliable sources, but makes no warranties therefore. The Fund is an unregulated fund for non-Us citizens and is not regulated by the Securities Exchange Commission or the US government. Neither is it regulated by the laws of any other country. Investors should act accordingly in assessing an investment in this or any fund.

 
 
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ResiTrust Expands Influence in Charlotte Hotel Market

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Contact: Peter Ferrigan - ResiTrust.com 
561-832-3321 info[.]ResiTrust.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any SCI Strategy Corporation International securities in any jurisdiction including any other companies listed or named in this release.

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