07-13-07 Two Hotels & a Restaurant Slated for Development on Silver Companies Site

JACKSONVILLE, FL / BOCA RATON, FL / METRO WASHINGTON D.C. – July 13, 2007 – Silver Companies announced today that it has closed on a deal to purchase 6.9 acres at the corner of Ranch Road and Duval Road in Jacksonville, FL adjacent to the city’s international airport.

Current plans call for the development of a 127 room Hyatt Place™ hotel and a still to-be-named 100 room hotel. A third parcel consists of 1.71 acres and is available for a restaurant by calling Denny Weiss at 561-981-5252.

Site work is expected to commence shortly with construction on Florida’s first new-build Hyatt Place™ hotel  to begin before the end of summer.

Silver Companies -- a master real estate development and investment firm based in Boca Raton, Fla. and Metro Washington, D.C. -- was among the first to be awarded a series of Hyatt Place™ franchises, a brand new hotel concept presented by Global Hyatt Corporation.

Master-planned by Silver Companies and jointly developed with the MMI Hotel Group, the 127-room Jacksonville Hyatt Place™ is expected to open 4th Quarter 2008.

Silver Companies plans to announce the brand of the second hotel by the end of the year.

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About Silver Companies
Silver Companies is a Boca Raton, Fla. and Metro Washington, D.C.–based master developer of large commercial and residential land tracts and a diversified real estate investment firm. Since 1941, Silver Companies has built an impressive private enterprise with commercial development approaching 11 million sq. ft. and residential site development totaling more than 50,000 units. In addition, the company’s private equity division has provided more than $1 billion in capital to builders and developers during the last six years. Silver Companies is led by CEO Larry D. Silver and is backed by teams of division presidents, engineers, contractors, project managers, lending, leasing and acquisitions professionals and nationally-recognized strategic partners. For more information, visit www.silvercompanies.com.

Global Hyatt Corporation
Global Hyatt Corporation, one of the world’s premier hotel companies, offers today’s travelers over 735 hotels and resorts (over 136,000 rooms) in more than 44 countries. The company’s affiliates own, operate, manage and franchise Hyatt branded hotels and resorts under the Park Hyatt™, Grand Hyatt™, Hyatt Regency™, Hyatt Resorts™, Hyatt™, Hyatt Place™ and Hyatt Summerfield Suites™ brands. In April 2007, Hyatt launched its newest global brand, Andaz™.  Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc. operator of the Hyatt Vacation Club and fractional residential properties and U.S. Franchise Systems, Inc, which franchises Hawthorn Suites and Microtel Inns and Suites.  From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234 or logging onto www.hyatt.com. 

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