Cathartes Private Investments

The Hilton Garden Inn

Cathartes Private Investments is developing a mixed-use hotel and luxury residential condominium project adjacent to an 85,000 square foot office building, the Parade Office Mall, which it owns in downtown Portsmouth, New Hampshire.

The development is programmed to include a 131 room Hilton Garden Inn, 21 luxury residential condominiums and 1,200 square feet of commercial space. CPI has secured a franchise for the Hilton Garden Inn and has executed contracts with Olympia Equity Investors to manage the development and operation of the hotel. Olympia is a Portland, Maine based hotel owner/operator with broad hotel development and management experience. The five-story building will be steel construction with a masonry façade. Construction is expected to begin early 2005.

Downtown Portsmouth has many popular amenities including great restaurants, shopping, a harbor walk and nightlife. The site is one mile from Route 95 and is centrally located between Boston (50 miles), Portland (55 miles) and Manchester (30 miles). The site is one block from the Market Square area of Portsmouth, which is the center for shopping, restaurants and many city-sponsored activities.

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Hilton Garden Inn, Portsmouth, NH

Lofts at SoCo

In 2004, Cathartes began conversion of the former Etonic Shoe factory, a historic brick-and-beam mill building in Brockton, Massachusetts.

Our development plan incorporats the sound urban planning principles of Smart Growth and Transit Oriented Development-topics strongly supported by both the City of Brockton and current gubernatorial policies of Massachusetts. Accordingly, Brockton's mayoral administration received state and federal funding for municipal infrastructure improvements near the train station, which included the Etonic building.

The project, named Lofts at SoCo, is a 64-unit conversion of a 91,000 square foot building that will feature on-site fitness facilities, on-site deeded parking, a function room, professional security and management, and new building systems. Each unit will have dining and living areas; hardwood floors; exposed brick and sandblasted heavy timber beams and columns; two full bathrooms, including master walk-in shower; central air conditioning; and high-speed internet access. Construction is anticipated to be complete by Summer 2005.

Lofts at SoCo is situated 19 miles from downtown Boston and has excellent access to local transportation, with Brockton's MBTA train station located directly across the street.

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www.loftsatsoco.com

Lofts at SoCo, Brockton, MA

Lofts at SoCo - Interior
Brockton, MA

Westside Station

In 2000, Cathartes acquired a site next to a light rail station in Jersey City, New Jersey. By working closely with the city, we were able to create a 15-acre redevelopment area around the train station and, subsequently, Cathartes was designated as the redeveloper of the entire "Water Street Redevelopment Area."

The new residential community, named Westside Station, consists of over 800 units and is being developed in four phases. The first phase is under construction and includes four townhouse buildings totaling 52 units, 100% of which are sold. Construction for Phase II begins in November 2004 and consists of two townhouse buildings totaling 32 units. Phase II is already 50% reserved. Phases III and IV will be two mid-rise loft condominium buildings totaling 88 units. Construction is expected to begin late November 2004.

Ten minutes from downtown Jersey City and 20 minutes from Manhattan, West Side Station offers superb access to the services and amenities of the New York metro area.

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www.westsidestation.com

Westside Station Jersey City, New Jersey