AEW and Stonebridge Companies Sell Downtown Seattle Hotel

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. May 11, 2011

May 10, 2011 - AEW Capital Management, together with Stonebridge Companies, a leading Colorado-based hospitality investment and hotel management company, have closed on the sale of the Homewood Suites Seattle Convention Center.

Denver, CO (May 10, 2011) - AEW Capital Management, along with an affiliate of Stonebridge Companies, closed on the sale of the 195-room Homewood Suites Seattle Convention Center to Chesapeake Lodging Trust. AEW and Stonebridge Companies formed a joint venture in 2006 for the purpose of acquiring what was then known as the Summerfield Suites Seattle. The hotel underwent a multi-million dollar renovation, redevelopment and repositioning and was rebranded as the Homewood Suites Seattle Convention Center.

Navin C. Dimond, President and CEO of Stonebridge Companies noted that, “The investment strategy of redeveloping and repositioning extended-stay and select service hotels in urban centers is one of the core attributes that Stonebridge Companies is recognized for and we are quite proud of the success that we had with the Homewood Seattle.”

Jim Luchars, Director of AEW Capital Management, further commented, “Despite the economic environment over the past few years, the joint venture investment with Stonebridge Companies exceeded expectations and the venture continues to look for similar investment opportunities throughout the country.”

The sale to Chesapeake Lodging Trust on May 2nd was for $53 million, or $272,000 per key.

About Stonebridge Companies
Founded in 1991 by Navin C. Dimond, Stonebridge Companies is a privately owned, innovative hotel management company headquartered near Denver, Colorado, which has developed over 60 hotels and operated more than 75 lodging properties. Currently, Stonebridge Companies operates over 40 hotels comprising in excess of 6,000 guest rooms in Alaska, Arizona, California, Colorado, Nevada, Utah, Virginia, Washington and now New York. The diverse portfolio includes select-service, extended stay, mid-scale and full-service hotels in primary and secondary markets. For detailed information, visit www.StonebridgeCompanies.com.

About AEW :
Founded in 1981, AEW Capital Management, LP(AEW) provides real estate investment management services to investors worldwide. One of the world's leading real estate investment advisors, AEW and its affiliates manage over $30 billion of capital invested in $45 billion of property and securities in North America, Europe and Asia (as of December 31, 2010). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Singapore and Hong Kong, as well as additional offices in nine European cities. For more information please visit www.aew.com.

Media Contact Information:

Kevin D. Mahoney
Chief Operating Officer
Stonebridge Companies
9100 E. Panorama Drive #300
Englewood, CO 80112
303-785-3100
[email protected]