Re: Re:

Bruno are you sending me something tonight, Hope to see it soon,

David

DAVID MITCHELL

Mitchell Holdings LLC

=45 Fifth Avenue
=ew York NY 10151
=SA

Morning David,

thanks for following up and the patience as we had our holiday party y=sterday:

As mentioned we'd be looking for something where there is more=flexibility in repositioning it towards extended stay, which I'm n=t sure the current lender structure supports. We can do 6 months deposit a=d underwrite taking on the occupancy risk with a $2.8.3MM net lease and some shared upside. Purchase wise it'd ne=d to be closer per key to what Thor paid for the lames in Soho + air right= (assume —$45MM).

Fully understand if that doesn't work for you and agree on the=decent chance to make it well through the current phase of increasing over=upply, and of course open to any ideas you might have on your end (creativ= solutions included, after all the main advantage of a startup.)

Around for most of the day, at , all the

best in the meantime,

Bruno

Sent from a mobile device

update below, if I can get him to $3.2 net with escalatio=s it might work $60,000,000 x 5%

DAVID MITCHELL

Mitchell Holdings LLC

=45 Fifth Avenue

=ew York NY 10151

=SA

his numbers are the same as my tummy. =AO yes, i would do it. get away from it and the

maniac<=r>

are you around tomorrow,

........................................
DAVID MITCHELL
........................................
Mitchell Holdings LLC

1

EFTA_R1_01794953
EFTA02604812

=45 Fifth Avenue

=ew York NY 10151

=SA

im in palm

can I call , what time is good

DAVID MITCHELL

Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA

now?