Investor/Developer Acquires Waikoloa Beach Marriott

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. February 09, 2015

WAIKOLOA, HI - February 9, 2015 - Silverwest Hotel Partners LLC announced today that it has acquired Waikoloa Beach Marriott from an affiliate of Blackstone for an undisclosed price. The Waikoloa Beach Marriott is a 555-room, resort hotel that sits on 16 oceanfront acres on the shore of Anaeho`omalu Bay, on the Big Island's Kohala Coast.

“We are very excited to have acquired this outstanding hotel. It is one of only a few resort hotels on the Kohala Coast,” said Edward Mace, a co-founder and managing partner of Silverwest Hotel Partners. “The resort has outstanding features and amenities including its location next to The Kings & Queens Villages and access to two golf courses of Waikoloa. Our plans include a continued relationship with Marriott International and the terrific team of associates already in place at the hotel.”

Silverwest, a Denver-based firm, is acquiring the hotel on behalf of SMG I Hotel Waikoloa LLC in a joint venture with Mariner Real Estate Management and an affiliate of Global Endowment Management (GEM).

Mace is the chief executive officer of the new venture and has had a long history with Hawaii. He led the acquisition of the Fairmont Kea Lani on Maui as vice chairman of Fairmont Hotels & Resorts in 2001. He has been an advisor to a number of investors and private equity firms who have been involved in Hawaii resort transactions over the past eight years.

“The addition of this asset is part of a new joint venture with Mariner and GEM. It is a solid brand in a unique location on fee simple oceanfront land in one of the great destinations of the world. The Big Island is recovering nicely, and we look forward to a long and successful relationship with the property,” Mace said.

Silverwest Hotel Partners currently has two Colorado hotel projects underway: a 113-room Element by Westin in Basalt, and an 88-room Hampton Inn and Suites in Silverthorne. Construction of both hotels began in October 2014 and both hotels are set to open for the 2015-16 ski season.

About SMG I Hotel Waikoloa Partners LLC and Silverwest Hotel Partners LLC SMG I Hotel Waikoloa Partners LLC is a joint venture of Silverwest Hotel Partners, Mariner Real Estate Management and Global Endowment Management.

Silverwest Hotel Partners is a hotel investment, development and management company engaged in the acquisition and repositioning of branded and independent hotels and resorts. The company was founded by Edward Mace and Charles Peck. Mace was formerly president of Fairmont Hotels, RockResorts and Vail Resorts Lodging Company. Mace also served as vice chairman of Fairmont Hotels and Resorts and oversaw global development. Peck was previously president and COO of Destination Hotels & Resorts, the Denver-based hospitality subsidiary of Lowe Hospitality Group. www.silverwesthotelpartners.com

Mariner Real Estate Management (MREM) is a real estate private equity firm founded by Ryan and Terry Anderson in partnership with Mariner Holdings, LLC. MREM has focused on opportunistic investments in the commercial real estate market. Since inception in 2008, MREM and its affiliates have purchased over $1.5 billion of real loans or assets in over 30 states. MREM has $760 million of assets under management. MREM owns a stake in Pillar Financial, an affiliate of Guggenheim Partners. Mariner Holdings is an independent financial services firm focused on wealth management and asset management. Mariner Holdings currently manages $35.7 billion. The company is based in Leawood, KS. www.mariner-re.com

Global Endowment Management (GEM) is an investment manager located in Charlotte, NC. www.globalendowment.com