PHG Announces: Completion of Financing and Start of Construction for

MC Hotel Phoenix

Dear Investors, Partners, and Team,

I am thrilled to share some fantastic news regarding our development project in downtown Phoenix. We have successfully closed the financing for our upcoming hotel, MC Hotel Phoenix (formerly known as The Edith). This achievement marks a significant milestone in our journey, underscoring the robust commitment and shared vision of everyone involved.

With the financing secured, I am pleased to announce that construction has officially begun. This exciting step forward will help us realize our vision for a world-class hotel in the vibrant heart of Phoenix.

Phoenix’s hospitality market continues to thrive, supported by strong growth in key sectors such as tourism, education, and advanced manufacturing. The Phoenix Convention Center, one of the top venues in the U.S., attracts major national and international events, drawing millions of visitors annually and driving demand for premium accommodations. Additionally, Arizona State University (ASU), with its vast student population and status as a leader in research and innovation, plays a critical role in the city’s growth and dynamism.

Furthermore, Phoenix is becoming a national hub for semiconductor manufacturing, thanks to significant investments from industry giants like Intel and TSMC. Recent announcements have highlighted over $100 billion in capital investments, creating thousands of new jobs and establishing the region as a focal point for innovation and advanced manufacturing in the U.S. These developments promise a bright future for Phoenix, fueling demand for high-quality accommodations and supporting the overall growth of our project.

We are confident that MC Hotel Phoenix will become a centerpiece of this thriving landscape, offering unmatched luxury and service in downtown Phoenix.

We are incredibly grateful for the trust and support of our investors, the dedication of our partners, and the hard work of our entire team. Your contributions have been invaluable, and we look forward to continuing this journey together as we build something truly remarkable.

Warm regards,

Pouya Honari
Vice President of Capital Markets & Investment