FOR IMMEDIATE RELEASE THOR EQUITIES CLOSES ON ACQUISITION OF THE JAMES NEW YORK – SOHO Modern Boutique Hotel Features 114 Guestrooms, and Three Food and Beverage Spaces New York, December 15, 2017 – Thor Equities, a global leader in urban real estate development, leasing and management, has closed on its acquisition of The James New York – SoHo, company executives announced today. Thor Hospitality Group, a newly formed division of Thor Equities, is planning substantial renovations and upgrades to the property. Located at 27 Grand Street on the corner of Thompson Street, The James New York – SoHo has been named one of “The Best Hotels in New York City” by Travel + Leisure. The 18-story, 75,800-square-foot boutique property features 114 guest rooms, three food and beverage outlets, and meeting and event space totaling 1,500 square feet. “The James New York is a quality property located in the center of a bustling area of SoHo, which has become one of New York’s premier live, work and play neighborhoods,” said Jack Joe Sitt, Vice President of Thor Hospitality Group. Jeffrey Davis of JLL brokered the deal. The James New York – SoHo is within easy walking distance to the Children’s Museum of the Arts, Film Forum and SoHo Playhouse, and surrounded by numerous corporate offices, upscale restaurants, art galleries and high-end retail stores. Among the amenities at The James New York – SoHo are an outdoor rooftop swimming pool and fully-equipped fitness center, both with views of the Manhattan skyline and Hudson River, as well as 24-hour in-room dining. Food and beverage offerings include JIMMY, a popular rooftop lounge serving cocktails and light fare. In a tribute to the SoHo neighborhood, the hotel also features the works of numerous local and international artists. Designed in a residential style, all rooms at The James New York – SoHo feature contemporary high-end finishes, and oversized windows providing an abundance of natural light and spectacular city views. In addition to The James New York – SoHo, Thor owns the Palmer House Hilton in Chicago as well as Thompson Playa Del Carmen, Montage Los Cabos debuting in spring 2018, and The Ritz-Carlton Mexico City opening next year. ### About Thor Equities: Thor Equities is a leader in the development, leasing and management of commercial, residential, retail, hotel and mixed-use assets in premier urban locations worldwide. The company maximizes returns for investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. Thor Equities is also the exclusive representative of global retailers through Thor Retail Advisors, a premier leasing agent for marquee properties worldwide. For more information, visit www.thorequities.com. .