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Liberty Group Closes Hotel Investment Fund

Monday, February 10, 2014
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Liberty Group is proud to announce the final closing of itsfirst private equity real estate fund dedicated to the acquisition of upper mid-scale hotels.Liberty Hospitality Fund I, LLC was fully capitalized in February 2014, and will deploy$75,000,000 in total capital towards hotel acquisitions over the next three years.Liberty Group's most recent acquisition of the Holiday Inn Express & Suites in Bonita Springs,Florida represents its 24th acquisition since 2010, and its second investment through LibertyHospitality Fund I.Liberty acquired the 108-room hotel in February 2014 through an off-market transaction directlywith the Seller for significantly less than replacement cost, and intends to invest in renovations toreposition the asset in mid 2014."Access to capital has provided us a distinct advantage in acquiring hotels since we can offer aquick and certain close, something that few buyers can match," said Punit Shah, President & ChiefOperating Officer of the Liberty Group. "Liberty Hospitality Fund I allows us to continueexpanding our hotel portfolio and creating operational efficiencies that add value to each of ourinvestments."

ILiberty Hospitality Fund I, LLC closed in February 2014 and will deploy $75,000,000 in totalcapital with a disciplined focus on branded upper mid-scale hotels throughout the SoutheasternUnited States. Liberty Group's principals significantly co-invested in the Fund to ensure analignment of interests and to create performance-based incentives. The Fund will act as Liberty'sexclusive hotel investment vehicle during its investment period of three years.

Established over three decades ago, Liberty Group is a vertically integrated hotel investment,development, and management company that prides itself on its proven entrepreneurial andstrategic approach to investment placement. Liberty's proactive, integrated approach of continuallyassessing each investment with regard to its performance, market position, current value, andcapital structure allows us to monitor the market and optimize returns. With over $300,000,000 ininvestments across the United States, Liberty Group demonstrates a proven track record behindsuccessful real estate investment and management.

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