Infinity Sells Fashion 26 Hotel for $122 Million

New York, NY, September 22, 2010 – Infinity Real Estate LLC (“Infinity”) announced today its sale of the Fashion 26 Hotel in New York City. The 280-key, full-service hotel was sold to a fund managed by RLJ Development for $121.8 million.  Infinity led the design, construction, launch, and stabilization of Fashion 26 throughout the Hotel’s three year development period. “We felt the offer we received presented a successful economic outcome for our partnership, and felt it was a sound, strategic move to divest at this time” commented Steve Kassin, managing partner of Infinity Real Estate. RLJ, which owns 120-hotels nationwide, also owns a Hilton Garden Inn at 63 West 35th Street, and is one of the more active players in the hospitality sector.