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First Fidelity Arranges $300,000,000 Financing for Orlando World Center Marriott Resort & Conference Center

7/22/2008

The First Fidelity Companies is pleased to announce the arrangement of financing for the Orlando World Center Marriott Resort & Conference Center. The $300,000,000 loan was placed with a major U.S. life insurance company and will replace the existing indebtedness on the property as well as provide additional capital for improvements to the resort.

The 2,000-room Orlando World Center Marriott Resort & Conference Center is the preeminent convention headquarters hotel in Orlando, FL.  The hotel is situated at the intersection of I-4 and Highway 535 on over 200 acres opposite the entrance to EPCOT^® and the Magic Kingdom^®.  The convention center provides over 450,000 square feet of meeting and event space, including four separate ballrooms.  Guests of the AAA Four-Diamond hotel may avail themselves of the property's ten restaurants and lounges, spa and fitness center, or the 18-hole golf course designed by Bob Cupp III.

First Fidelity concluded this placement on behalf of Host Hotels & Resorts.  Host Hotels & Resorts (NYSE: HST) is an S&P and Fortune 500 company that is the largest lodging real estate investment trust and one of the largest owners of luxury and upper upscale hotels in the world.  The company currently owns 118 properties with approximately 64,000 rooms and also holds a minority interest in a joint venture that owns 11 hotels in Europe with approximately 3,500 rooms. 

The First Fidelity Companies (www.firstfidelitycompanies.com) is a privately held, independent real estate investment banking firm that has been a leader in commercial real estate for over 40 years.  Established in 1967, First Fidelity specializes in the placement of debt and equity capital, investment brokerage, advisory services, and loan administration on behalf of owners and developers of income producing property.  The firm is active throughout North America and the Caribbean with significant experience in hospitality, office, retail, multi-family and mixed-use developments.  

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