NYLO Completes Fnancing with ORIX

Breaks Ground on Third Hotel, the 200-room NYLO Las Colinas, Texas

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. October 14, 2008

IRVING, TX, April 14, 2008. Continuing its rapid expansion, NYLO Hotels LLC breaks ground this week on its third hotel, this one in the award-wining, master-planned community of Las Colinas in Irving, Tex. The 200-room hotel will open in May, 2009. It will be located ten minutes from Dallas-Fort Worth International Airport, fifteen minutes from downtown Dallas and minutes from the 22 million square feet of offices in Las Colinas.

The five-story NYLO Las Colinas will sit on more than five acres at the northwest corner of Royal Lane and Sierra Drive. Parent company, NYLO Hotels LLC, (www.nylohotels.com) acquired the site in 2007. The company recently completed its financing with ORIX Real Estate Capital, Inc. (www.orix.com). Headquartered in Chicago, ORIX Real Estate provides capital for real estate investments and development throughout North America.

"We saw this as a great opportunity to work with an exciting, new hotel brand," says David R. Brown, president and chief executive officer of ORIX Real Estate Capital. "We believe in both the innovative concept and excellent location for this project. And our longstanding relationship with NYLO principals and respect for their vision and entrepreneurial spirit gave us a high comfort level when considering this loan."

"NYLO Las Colinas will fulfill a need for an upscale boutique hotel in Irving," notes Michael Mueller, president, chief development officer and visionary for the brand. "The property will feature a 3,000-square-foot ballroom with a dramatic urban loft design, including soaring ceilings and exposed brick walls. The ballroom will open onto an expansive outdoor courtyard and also connects to The Loft, our signature restaurant and bar.

"The hotel will have more than 6,000 square feet of meeting space," Mueller continues. "With its striking ballroom and creative cuisine, NYLO Las Colinas will be an ideal venue for wedding receptions and other special occasions."

NYLO's first hotel, NYLO Plano at Legacy, opened in Dec. 2007, in North Dallas, at the northwest corner of Headquarters Drive and Preston Road in the fast-growing suburb of Plano. The hotel was honored at the 2008 Hotel World Global Hospitality & Design Awards, recognized for design excellence in its restaurant/bar and lobby. With its unique Dallas-meet-Soho decor, NYLO Plano provides a glimpse of things to come in Irving.

The NYLO Hotel-Plano under construction (Lyda Swinerton Builders) / The first property built for NYLO Hotels. The 88,000-square-foot project features 5-stories and 176 guest rooms. The innovative loft-style hotel has rich masonry brick panels on the exterior to complement the concrete tunnel form structure.

Innovative Concept and Design

Atlanta-based NYLO is the creator of a new lodging category, loft lifestyle hotels, that combines the dynamic qualities of urban loft-style living with the best-of-the-industry features of leading hotel brands. NYLO features bright, spacious loft accommodations; state-of-the-art business center; high-tech gym; clothing boutique; and 24-hour, healthy-alternative restaurant and bar. With its upscale amenities, NYLO caters to business and leisure travelers seeking an energized alternative to the bland, one-size-fits-all lodging experience.

Showcasing the brand's urban loft design, NYLO Las Colinas will feature a bold brick-and-glass exterior; floor-to-ceiling windows in the lobby; exposed brick-and-polished-concrete walls; and guest lofts with high ceilings exceeding 10 feet.

Each bright, airy guest loft will have custom-designed furnishings, including a plush NYLO NYTE bed by Simmons Bedding Company topped with luxury linens, sofa, ottoman and large moveable desk with ergonomic chair. Guest lofts also will provide complimentary high-speed and wireless Internet access, large flat-screen TV and iPod docking station.

Franchising and Development

NYLO Las Colinas is the brand's fourth announced property. "The first four hotels are owned, developed and operated by NYLO Hotels," Mr. Mueller points out. "We are now also making NYLO available under a franchise relationship with third-party developers and operators."