GREAT NECK, New York, January 19, 2017…United Capital Corp. announced today that it has acquired the newly built Hilton Garden Inn located on the north side of Chicago’s business loop and close to Chicago’s O’Hare and Midway airports. The hotel was opened in 2015 and is ideally located adjacent to the Millennium Mile and close to many demand generators including the Magnificent Mile, Millennium Park, Aon Center, Chicago’s Tribune Tower, the Chicago river and its newly expanded Riverwalk, the Chicago Theatre and many other trophy office properties. The hotel has 26 stories and approximately 90,000 square feet of space including the Garden Grille & Bar, which serves cook-to-order breakfast as well as daily specials for dinner, the 24-hour Pavilion Pantry Market, fitness center and state-of-the-art boardroom, ideal for any business meeting.

In commenting on the announcement, A.F. Petrocelli, United Capital’s Chairman and President, noted, “This property marks the ninth hotel in our portfolio and the first outside of the east coast, as well as our first select service property. We are excited to be acquiring such a well-appointed property together with the diversity it brings to our holdings.”

Certain statements in this press release and other statements made by the Company or its representatives that are not strictly historical facts are “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that should be considered as subject to the many risks and uncertainties that exist in the Company’s operations and business environment. The forward-looking statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause the actual results, performance and/or achievements of the Company to differ materially from any future results, performance or achievements, expressed or implied, by the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, and that in light of the significant uncertainties inherent in forward-looking statements, the inclusion of such statements should not be regarded as a representation by the Company or any other person that the objectives or plans of the Company will be achieved. The Company also assumes no obligation to publicly update or revise its forward-looking statements or to advise of changes in the assumptions and factors on which they are based.

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