The Siegel Group Continues Its Rapid Arizona Expansion

company announced today that it had acquired a 442-unit extended stay

property located in Tolleson, Arizona previously operated under the

Legacy Suites brand for $16.60 million. This is the third Legacy Suites

location that The Siegel Group has acquired in the last fourteen months

with the other properties located in Phoenix and Casa Grande, Arizona.

The acquisition of its newest location increases the properties operated

under the various Siegel Suites brands located throughout Nevada, New

Mexico, and Arizona to 36 with additional locations scheduled to open in

2016.

Built in 2010 and situated on 8.35 acres, the two-story, 8 building

complex totals nearly 177,000 square feet and is comprised of a mixture

of fully furnished studio, one and two bedroom units each containing

full kitchens. The well-maintained property, which will be renamed

Siegel Suite Tolleson, has an exterior courtyard, fitness center, two

outdoor swimming pools and spas, a commercial laundry facility and

multiple shared common areas for tenants and guests to gather, work and

relax. The Siegel Group will be installing Wi-Fi throughout the

property, adding flat screen televisions to all units and will make

minor cosmetic upgrades. Additionally, the company will brand the

property with signage and façade improvements that are characteristic of

their other locations situated throughout the southwestern United States.

The Siegel Group, which owns and operates a sizable commercial real

estate portfolio comprised of apartments, extended-stay, hotels, retail,

and office, will be operating the property as a Siegel Suites - the

company’s flagship brand of apartment communities which provide fully

furnished apartment units and allow for flexible payment options without

requiring a long-term commitment. Additionally, all Siegel Suites offer

a range of amenities including its popular Siegel Rewards^™

program which provides loyalty points that can be earned and applied

towards a free stay, gift cards, electronics and much more.

Stephen Siegel, President of The Siegel Group, stated: “It’s hard to

believe that it has just been over a year since we introduced our Siegel

Suites brands to the Arizona market. During this short time we have

acquired three new properties in Arizona totaling nearly 1,100 units and

had our flexible-stay apartment business model embraced by both

pre-existing and new tenants. We look forward to continuing to expand

our Siegel Suites brands and are currently in the process of identifying

new locations and markets within Arizona.”

The Siegel Group is actively looking to acquire value-added properties

throughout the United States and is working closely with lenders and

private parties to take over distressed assets. If you have a property

you would like to submit for consideration, please email properties@siegelcompanies.com.

About The Siegel Group Nevada, Inc.

The Siegel Group, a real estate investment and management company

founded by Stephen Siegel with offices located in Las Vegas, Nevada and

Studio City, California, specializes in the acquisition, disposition and

development of under-performing, value-added real estate and businesses

with significant turn-around potential. The company’s extensive

expertise in the areas of operations, management, finance, marketing,

branding, leasing, renovation, design, entitlements, construction, and

redevelopment enable The Siegel Group to elicit an operational

turnaround on the assets it acquires. These assets include a variety of

businesses and a commercial real estate portfolio comprised of

multi-residential apartment complexes, flexible-stay, boutique resorts,

hotel-casinos, retail, office, restaurant, bars, and nightclubs. For

more information on The Siegel Group and its affiliates, visit the

Company’s website at www.siegelcompanies.com.

Contacts

The Siegel Group Nevada, Inc.

Michael Crandall, 702-947-8322

Senior

Vice President