FOR IMMEDIATE RELEASE                                                   

Intercontinental Real Estate Corporation and Merritt Capital Investors, LLC Joint Venture

Acquires Virginia Crossings Resort in Glen Allen, VA

Boston, MA, May 12, 2008 – A joint venture of Intercontinental Real Estate Corporation (“Intercontinental”) and Merritt Capital Investors, LLC (“Merritt”) has acquired Virginia Crossings Resort in Glen Allen, Virginia, in the heart of Greater Richmond.  Intercontinental’s investment was made on behalf of U.S. Real Estate Investment Fund, LLC (“US REIF”).  Thomas Taranto, Director of Acquisitions, Asset & Portfolio Management represented Intercontinental in the transaction, with Alyson Toombs, representing Merritt.

The four star/four diamond conference center joins the Wyndham Hotels and Resorts system of upscale hotels and will be known as the Wyndham Virginia Crossings Hotel and Conference Center.  Wyndham Hotel Management Inc. will oversee the daily operations of the resort and provide comprehensive operations, sales, marketing, revenue management and food and beverage support.

The joint venture has retained the T.R. ENGEL Group, LLC, an experienced hotel asset manager, to further assist in managing the asset.  Situated on 20 landscaped acres, the resort consists of 183 rooms; 26,000 square feet of meeting space; and a 4,700 square foot ballroom.  Virginia Crossings features an array of amenities including: two popular restaurants, a fitness center, business center, racquetball/squash courts, a sand volleyball court and outdoor pool.  The resort has access to an adjacent, separately owned 18-hole championship golf course named The Crossings Golf Club.  Originally constructed in 1983 as an office headquarters, the property underwent a complete redevelopment and conversion in 2001 into a state-of-the-art conference and hotel facility.  Located at the interchange of Interstates 95 and 295, the resort sits just 12 miles north of the City of Richmond, 20 miles from Richmond International Airport, and 90 miles south of Washington, D.C.

Thomas Taranto, Director of Acquisitions, Asset & Portfolio Management at Intercontinental commented, “The acquisition of Virginia Crossings Resort offers Intercontinental the unique opportunity to acquire a premier asset located in a growing business hub to further enhance the geographic and product-type diversification of US REIF.  We are pleased to partner with Merritt, an experienced hotel owner and developer with a successful track record in conference hotels.”

Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects.  Presently, Intercontinental owns and manages a portfolio in excess of $2 billion for its clients and is actively seeking opportunities to invest in core, core plus as well as value oriented development projects.  For more information, visit www.intercontinental.net. 

Merritt Capital Investors is a privately held real estate investment company located in New Canaan, Connecticut.  For more information, visit our website at www.MerrittCapLLC.com.

The T.R. Engel Group (TRE), LCC, is a Boston-based international lodging real estate advisory and asset company that works exclusively for owners and investors.  TRE's principals have extensive U.S. and international lodging development, operations, and asset management experience.  The Company is currently asset managing lodging properties throughout the U.S. and in Europe.

Wyndham Hotels and Resorts, a subsidiary of Wyndham Worldwide Corporation (NYSE: WYN), offers upscale hotel and resort accommodations throughout the United States, Canada, United Kingdom, Mexico and the Caribbean. All hotels are either franchised or managed by Wyndham Hotels and Resorts or an affiliate. Additional information is available at www.wyndhamworldwide.com.  Wyndham Hotel Management, also a Wyndham Worldwide subsidiary, provides comprehensive hotel and resort management services to upscale hotels in North America.  Wyndham Worldwide is based in Parsippany, N.J.