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For Immediate Release April 1998

Society Cybernaughts Close On $2.525 Million Hotel Sale -- Second In Last Two Months

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A 35 Unit boutique suites hotel sale in New Hampshire has joined the swelling ranks of transactions closed in CyberSpace.

Earle Wason CCIM, New England Hotel Realty Advisors and John M. Peckham III CCIM,CIPS,RECS, Peckham Boston Advisors, have connected in Cyberspace on a $2,525,000 sale. The CyberBrokers closed the sale of the Hampshire INN, located in the New Hampshire seacoast town of Seabrook. The Hotel consists of 35 one and two room suites and was built in the mid 80's.

Wason and Peckham, both members of the Real Estate CyberSpace Society, hooked up for the transaction on the Internet and used CyberSpace tools to bring the transaction to fulfillment. The buyer had previously sold their land under and leased to a well known Waikiki Resort Hotel. The Hampshire Inn sale was completed as the second leg of the 1031 tax deferred exchange structured in connection with the original Waikiki sale. Two months earlier Peckham and Wason brokered the first leg of the exchange with the sale of the historic Merrill Farm Resort in Conway, NH for $2,500,000.

New England Hotel Realty Advisors is located in Portsmouth, New Hampshire. According to Wason, it is a full-service real estate advisory firm that provides brokerage, consulting, management and information services to the hospitality and lending industries. New England Hotel Realty is one of the largest hotel brokerage agencies in the East and is the New England representative for the Hotel & Motel Brokers of America.

Peckham Boston Investment Advisors in Boston specializes in the acquisition and disposition of real estate investment properties. According to Peckham the company uses the Internet and other CyberSpace tools to reach out to tens of thousands of potential buyers and sellers in minutes. Peckham has closed several sales recently using these CyberSpace techniques.

Wason and Peckham are both members of The Real Estate CyberSpace Society, and as such both firms benefit from Society support which provides Cyberspace training, regular member Cyberspace strategy briefings and other real estate cyberspace marketing tools and services including member recognition programs.

For Further information or interviews:

John M. Peckham III
Executive Director
Real Estate CyberSpace Society
Four Longfellow Place, Suite 2408
Boston, MA 02114
Phone: 617-523-4440 Fax: 617-523-4736