PF Chang’s and Hilton Hotel Coming to Biltmore Park® Town Square

Asheville, N.C., Jan. 4, 2008 - Crosland LLC, one of the Southeast's leading, diversified real estate companies, and joint-venture partner Biltmore Farms LLC have commitments from the signature restaurant chain, P.F. Chang's China Bistro and a 165-room Hilton hotel to join other national tenants in Biltmore Park Town Square.

"We take pride in bringing the first P.F. Chang's and a Hilton Hotel to the Asheville region," said Charles Thrift, senior leasing associate for Crosland. "We've received strong interest from national companies that want to be a part of this exciting urban mixed-use development and we are taking great care to select the appropriate partners for this vibrant project."

Fresh, contemporary and consistently outstanding are the trademarks of P.F. Chang's China Bistro. The first of its kind in Western North Carolina, P.F. Chang's is a restaurant that has been embraced across the country. The P.F. Chang's experience is a unique combination of Chinese cuisine, attentive service, quality wine, and tempting desserts all served in a stylish, high-energy bistro. P.F. Chang's cuisine is reflective of China's evolving culinary landscape. The menu features traditional Chinese offerings and innovative dishes that illustrate the emerging influence of Southeast Asia on modern Chinese cuisine. As one of the premier restaurant chains in the country, P.F Chang's will lead the way in attracting other neighborhood and national restaurants.

Consisting of 165 rooms, the Hilton Asheville Biltmore Park will offer a range of features and services to accommodate the business and leisure traveler. The property will include 5,000 square feet of meeting and event space, including a 2,040 square-foot ballroom, state-of-the art audio-visual equipment and personalized catering. Guests of the Hilton Asheville Biltmore Park will have access to high-speed Internet access, a full-service restaurant, swimming pool, indoor and outdoor lounge, private terrace and a fitness center featuring Hilton Fitness by Precor equipment. Construction will begin early in 2008 with expected completion in spring of 2009.

"We are enthusiastic about our involvement with our partners at Crosland and Biltmore Farms to bring Hilton hospitality to the growing number of travelers drawn to Asheville," said Jeff Diskin, senior vice president - Hilton brand management. "Hilton's presence at the Biltmore Park Town Square builds on our commitment to offering the best properties in the best locations allowing our guests to make the most of their travels, whether for business or pleasure."

PF Chang's and the Hilton Hotel join the high-caliber anchor tenants for the center including Barnes & Noble, REI and Consolidated Theatres. Additional shops and restaurants are expected to be announced during the first quarter of 2008.