Pecan Grove Auto Spa, Inc.

December 31, 2014

Richmond, TX

Purchase and Sale

The undersigned acted as Financial Advisor

December 31, 2014

Sheraton Columbus Capitol Square

September 15, 2014

Columbus, OH

Hotel Refinancing
$24,000,000

The undersigned acted as Financial Advisor in this transaction

September 15, 2014

Doubletree Austin Northwest

June 18, 2014

Austin, TX

Hotel Acquisition

The undersigned acted as Financial Advisor and Principal in this transaction

June 18, 2014

Doubletree Wilmington Downtown

March 14, 2014

Wilmington, DE

Hotel Divestment

The undersigned acted as Financial Advisor in this transaction

March 14, 2014

Doubletree Raleigh-Durham Airport

March 12, 2014

Durham, NC

Hotel Financing
$15,900,000

 The undersigned acted as Financial Advisor in this transaction

March 12, 2014

Kenmare Partners IV

December 13, 2013

Private Equity Fund

For Investment in Real Estate Related Activities

The undersigned acted as Financial Advisor in this transaction

December 13, 2013