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ResiTrust, Inc. Continues Hospitality Expansion Plan - ResiTrust, Inc. announced today the acquisition of The Manchester Inn and Suites, a 78 room extended stay hotel
ResiTrust, Inc. Continues Hospitality Expansion Plan

 

PRZOOM - /newswire/ - West Palm Beach, FL, United States, 2007/05/01 - ResiTrust, Inc. announced today the acquisition of The Manchester Inn and Suites, a 78 room extended stay hotel.

   
 
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Manchester, Tennessee is an exciting opportunity for ResiTrust as the city continues to grow and expand. Halfway between Nashville and Chattanooga, Manchester has already seen the benefits of its own expansion as well as the increased traffic between these two major cities. Manchester is also home to “Bonaroo” the nation’s largest music festival.

Located on a prime 2-acre parcel of land, the hotel consists of an office and reception lobby, a main 2 story building and an additional expansion to the South. Renovations are already underway to further benefit new visitors and returning guests. The restaurant will be reopened shortly after renovations have been completed.

“Manchester will be an excellent addition to our portfolio. Our expansion in the South East has been going very well, and we anticipate The Manchester Inn will exceed our expectations. We look forward to being a part of this wonder community,” said Acquisitions Director Seth Schwartz. The Manchester Inn was chosen for its convenient location downtown in the city’s main square. Convenient to the incoming highway, constructed central to key government buildings.

“The Manchester Inn is a sterling example of our basic acquisition strategy. It is a solid investment as is, but presents a tremendous value added opportunity. Renovations, aggressive management and economies of scale we bring to the Inn should provide significant appreciation in value,” says RESITrust CEO Dan Kiely.

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. Located in downtown West Palm Beach, Florida the company can be reached at (561) 832-3321

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, Inc. Continues Hospitality Expansion Plan

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Contact: Peter Ferrigan - 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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