Highland Hospitality Corporation Shareholders Approve Acquisition by JER Partners 
MCLEAN, VA (REIT Media) July 13, 2007 - Highland Hospitality Corporation (NYSE:HIH) announced today that its shareholders approved the previously announced agreement to be acquired by affiliates of JER Partners Acquisitions IV, LLC ("JER"). Over 99% of the shares voted were in favor of the transaction.
About Highland
Highland Hospitality Corporation is a self-advised lodging real estate investment trust, or REIT, focused on hotel investments in the United States. The Company owns 28 hotel properties with an aggregate of 8,636 rooms in 14 states and the District of Columbia. Additional information can be found on the Company's website at http://www.highlandhospitality.com.
About JER Partners
JER and its affiliates ("JER Partners") is the private equity investment arm of J.E. Robert Companies, a real estate investment management company with more than 26 years of experience in sourcing, underwriting and managing a broad spectrum of real estate equity investments and debt products in North America, Europe and recently the emerging markets. Most of JER Partners' investments are in office, hospitality, retail, multi-family and industrial properties. Other areas of investment include Commercial Mortgage-Backed Securities ("CMBS"), healthcare related real estate and mezzanine financing. For more information on JER Partners, please visit http://www.jer.com . Over the past 36 months, JER Partners has had an ownership position in more than 17,000 hotel rooms. Currently, JER Partners' hotel portfolio consists of more than 170 properties. These properties include those operated under the Starwood, Marriott, Hilton and Hyatt flags along with those operated by Longhouse Hospitality.Forward Looking Statements
A number of the matters discussed in this document that are not historical or current facts deal with potential future circumstances and developments, in particular, information regarding the expected timetable for completing the transaction, successful integration of the business, benefits of the transaction and any other statements contained in this news release that are not purely historical fact are forward-looking statements. The discussion of such matters is qualified by the inherent risks and uncertainties surrounding future expectations generally, and also may materially differ from actual future experience involving any one or more of such matters. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include satisfaction of various other conditions to the closing of the merger contemplated by the merger agreement. This document speaks only as of its date, and each of Highland and JER disclaims any duty to update the information herein.
Source: Highland Hospitality Corporation
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Jul.13.2007. 10:44
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