08.08.07
AMC Delancey Group and Paramount Hotel Group Close Over $12 Million Refinancing Loan on Radisson Hotel Jacksonville Butler Boulevard

Contact
Michael J. LaCosta
Beckerman Public Relations
(908) 781-6420, michaelj@beckermanpr.com

PHILADELPHIA (August 8, 2007) – AMC Delancey Group, Inc., a leading national real estate investment and development firm, and Paramount Hotel Group, a Fairfield, New Jersey-based premier hotel management and development company, today announced that they have secured a $12.75MM CMBS (commercial mortgage backed security) refinancing loan from Bear Stearns for the companies’ Radisson Hotel Jacksonville Butler Boulevard in Jacksonville, Fla. The partnership was able to close the loan with a spread of 120 basis points over the 10-year Treasury rate.

“Although the debt market has fundamentally changed over the last month, and will continue to do so in the future, Bear Stearns chose to maintain the spread based on their original negotiated terms with us,” said Kenneth P. Balin, president and CEO of AMC Delancey Group. “The professionalism exhibited in the way they dealt with the situation is what we would expect from a firm of their stature, and is one of the major reasons we selected them to finance the property.”

Balin continued, “Lenders and borrowers have been under tremendous pressure over the past few weeks with the upheaval of the financial markets. Notwithstanding the significant movement in interest spreads, Bill Nash and Ben Milde of Bear Stearns recognized our longstanding relationship as a valued customer and chose not to renegotiate terms at the last moment, as has happened to many borrowers in this difficult market.”

A winner of the Radisson Hotels and Resorts 2007 Aspire Award (highest system RevPAR growth) and a 2005 and 2006 President’s Award for excellence and outstanding leadership, the Radisson Hotel Jacksonville Butler Boulevard is a signature 167-room, six-story hotel offering a first-class experience for its guests as well as state-of-the-art conference facilities for corporate meetings and events. Located off I-95 at J. Turner Butler Boulevard, the hotel is situated within a bustling commercial district south of downtown Jacksonville and is just 11 miles from ALLTEL Stadium, home of the Jacksonville Jaguars.

About Paramount Hotel Group
Founded in 1999, is a premier hotel management and development company that specializes in value-oriented management of full and limited service hotels nationwide. As an independent operator, Paramount team has successfully managed hotels under every major brand including Marriott, Hilton, Radisson, Sheraton, Crown Plaza, Holiday Inn, Ramada and Howard Johnson. The company is headquartered in Fairfield, N.J., and manages and/or has ownership interests in 27 properties with more than 3,000 rooms.

About AMC Delancey Group
Founded by Kenneth P. Balin in 1992, AMC Delancey Group, Inc. is a leading real estate investment and development firm that aligns interests and co-invests with a growing number of real estate operating partners throughout the United States. Headquartered in Philadelphia, Pennsylvania, the Company's programmatic approach focuses first on the quality of potential operating partners, next on their investment strategies, and then on the specific properties proposed for acquisition. The Company's current investment programs include hotel, office, retail, multi-family, condominium, mixed use, and land development. AMC Delancey plans to expand these and future investment programs throughout the United States, with both existing and new operating partners, with investments targeted over the next several years in excess of one billion dollars. For more information on AMC Delancey Group, visit www.amcdelancey.com .

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