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For Immediate Release November 1997

Society Members Connect On $2.5 Million Stagecoach Stop Sale!

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A Historic Hotel sale has joined the swelling ranks of transactions closed in CyberSpace.

Earle Wason CCIM, New England Hotel Realty Advisors and John M. Peckham III CCIM, Peckham Boston Advisors, connected up to close the sale of the Merrill Farm Resort in Conway, New Hampshire. The historic 60 room Inn and former Stagecoach stop is located on 9 acres of land fronting on the picturesque Saco river. The selling price was $2,550,000.

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 simultaneously sold their land under and leased to a well known Waikiki Resort Hotel. The sale was completed as one leg of the 1031 tax deferred exchange structured in connection with the transaction.

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.

As members of The Real Estate CyberSpace Society, 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