Drury Hotels Purchases Site at Stapleton

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For Immediate Release

180 Room Drury Inn & Suites to open in 2014

Denver, October 4, 2012—Forest City Stapleton, Inc. (now Brookfield Properties) announced today that Drury Hotels has closed on the purchase of land for a new Drury Inn & Suites at Stapleton.

The site of approximately 3 acres is located at the northeast corner of Interstate 70 and Central Park Boulevard, immediately adjacent to a new regional interchange that opened in the fall of last year.  Drury plans to start construction on the 180 room hotel, which is projected to have a permanent staff of 40 people, in early February of 2013 with a scheduled opening in midsummer of 2014.

“The Drury Inn and Suites-Stapleton will enjoy high visibility and direct highway access from throughout the region, just minutes from Denver International Airport and Downtown Denver in one of the nation’s most celebrated new urban communities,” said John S. Lehigh, president of Forest City Stapleton, Inc. (now Brookfield Properties) “Drury’s well-deserved reputation for providing value and friendly service to its guests traveling for business or pleasure is a welcome addition to Stapleton.  It is one more example that Stapleton is ‘business ready’ and capable of playing a prominent role in Mayor Michael Hancock’s Aerotropolis of business development opportunities springing forth from Denver International Airport.”

“We are very excited to be part of the growing community in Stapleton.   Our hotel site is in a great location and we look forward to offering travelers in the Denver area a convenient place to stay,” said Chuck Drury, President and CEO of Drury Hotels.

The new Drury Inn & Suites-Stapleton will be in the heart of more than three hundred acres straddling the Central Park Boulevard  interchange on I-70 that are now available for office and commercial development at Stapleton.  Offering sites from one to 50 acres, the Stapleton business campus is in an Enterprise Zone that will also be served by FasTracks commuter rail service linking Stapleton to Downtown and Denver International Airport beginning in January 2016.  The new hotel will also be within walking distance of  Stapleton’s 1.2 million square feet of  restaurants, entertainment and retail in The Shops at Northfield Stapleton, as well as hundreds of acres of new parks and open space that are currently under development as Forest City (now Brookfield Properties) begins residential development of Stapleton north of I-70 later this year.

About Drury Hotels
Drury Hotels Company is a Missouri-based, family-owned and operated hotel system with more than 130 hotels in 20 states from Arizona to the Carolinas and from Texas to Michigan. Brands include Drury Inn & Suites, Drury Inn, Drury Plaza Hotels, Drury Suites, Pear Tree Inn by Drury, as well as other hotels in the mid-priced hotel segment.

Drury Hotels was recently recognized by J.D. Power and Associates for ranking “Highest in Guest Satisfaction among Mid-Scale Limited Service Hotel Chains, Seven Years in a Row” in the firm’s 2012 North American Hotel Guest Satisfaction Index Study (sm). For a complete listing of all Drury hotels or for reservations, visit www.druryhotels.com or call 1-800-DRURYINN

ABOUT BROOKFIELD PROPERTIES

Brookfield Properties is a fully-integrated, global real estate services company, providing industry-leading portfolio management capabilities across the real estate investment strategies of Brookfield Asset Management — a global alternative asset manager with over $330 billion in AUM*.

Brookfield Properties develops and manages premier real estate with a focus on maximizing the tenant experience in addition to the investment and operational performance of the asset. We also focus on integrating leading-edge real estate technologies which enables us to be at the forefront of innovation and sustainability – benefiting not only our tenants and business partners, but also the communities in which we operate.

For more information about our approach to operating and developing best-in-class real estate, please visit www.brookfieldproperties.com.

*Please note: AUM numbers will change with each quarterly earnings call and should matchbrookfield.com. $330B is current.

Contacts:
Alison Casler, Drury Hotels
314-429-2255
Alison.Casler@druryhotels.com

Tasha Jones, Brookfield Properties
303-382-1800

Tasha.Jones@brookfieldpropertiesdevelopment.com

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