BridgeStreet Global Hospitality Adds Beekman Tower to NYC Offerings

Living by BridgeStreet Unveiled in Prime Midtown Location

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. July 13, 2015

HERNDON, VA. July 13, 2015 — BridgeStreet Global Hospitality - the leading hospitality solution offering serviced apartment experiences - announces today a portfolio expansion through a new management agreement for Living by BridgeStreet at Beekman Tower in New York City. The historic building boasts 178 four-star apartments at 49th and 1st Avenue, offering a central location with spacious style for guests to live, work and play in comfort.

“We're all excited about the acquisition of the Beekman Towers, as it is our first acquisition of this size in Manhattan and are looking forward to ensuring the building—with help of BridgeStreet—will be run at the highest levels with all respects,” noted Vlad Tsirkin, chief financial officer of Alliance Capital Investments and its affiliates. “The ownership is fully committed to support the management team with all necessary resources. We are currently in discussions to utilize commercial spaces on the ground level and rooftop.”

These turnkey serviced apartment assets are just blocks away from the international United Nations Headquarters and overlook the East River, with ground level retail spaces and a rooftop restaurant and lounge. The quintessential New York exterior and surrounding area is complimented by the offerings of the Living by BridgeStreet brand tier -- features include a fully equipped kitchen, housekeeping services and laundry facilities.

“This Midtown location offers New York City business travellers access to one of the key arteries of enterprise in the city,” noted Sean Worker, CEO of BridgeStreet Global Hospitality. “BridgeStreet looks at this management agreement as a way to meet high demand in this market while exceeding guest expectations.”

BridgeStreet Director of Real Estate Derrick LaRosa agrees, “The opportunity to manage the Beekman Tower single handedly changes the landscape of the New York City serviced apartment market by providing our clients with the combination of the BridgeStreet experience with an exceptional product in an iconic New York City property.”

With its innovative tiered system of six distinct brands, BridgeStreet provides guests with customized six- to two-star serviced apartment offerings, meeting every need from location to budget with more than 50,000 apartments in desirable and convenient locations in over 60 countries. Offering a memorable hospitality experience, BridgeStreet is widely recognized for uncompromised standards and a consistent brand experience.

For more information on Living by BridgeStreet at Beekman Tower, visit www.bridgestreet.com or call 1(800) 278-7338 / +44 (0) 20 7792 2222.

About BridgeStreet Global Hospitality

With more than 50,000 apartments in over 60 countries, BridgeStreet Global Hospitality - comprised of six unique brands - is the leading hospitality solution offering serviced apartment experiences for travelers seeking an alternative to typical hotel accommodations. BridgeStreet's family of brands includes six-star Exclusive, five-star Residences, four-star ApartHotels and Living, three-star Places and two-star Stüdyo offering the convenience of apartment living with a variety of service packages to offer each guest options based on location, price point and individual needs. Widely recognized for uncompromising standards of quality, comfort and service, BridgeStreet Global Hospitality is a renowned award winner in both the Americas and EMEA (Europe, the Middle East and Africa). For more information on BridgeStreet Global Hospitality, please visit www.bridgestreet.com or call 800 278 7338.