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PCG Buys $250M in Hotels and Retail

NEW YORK CITY-Eleven movie theaters, six hotels and 18 drug stores make up PCG's new acquisitions, across 13 states.

By Sean Ryan | Updated on June 15, 2007

NEW YORK CITY-The deeds to more than $250 million of real estate is now in the hands of PCG Exchange. The company has quietly purchased six hotels, 11 movie theaters and 18 drugstores spread across 13 states.

PCG, with offices in New York and San Francisco, has confidentiality agreements about most of the specifics of the purchases. No individual property address has been disclosed, but the company can say the acquisitions came from California, Indiana, Ohio, Kentucky, Connecticut, Georgia, Tennessee, Illinois, Missouri, Pennsylvania, North Carolina, Texas and Florida.

PCG was formed in the beginning of 2006, with Douglas H. Wolf as chairman. Its specialty is to buy corporations that own real estate. “We have purchased car dealership companies and foreign corporations that own hotels, office buildings and industrial buildings,” Charlie S. Swanson, president and CEO of PCG Exchange, tells GlobeSt.com.

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