Subject: File No. 81-939
From: Christopher S. Armstrong
Affiliation: Attorney, Armstrong & Hastings, LLP

May 5, 2013

To Whom It May Concern:

My Company Retirement Plan holds for my benefit 3,200 shares of W2007 Grace Acquisition I, Inc. as a result of financial engineering which precipitated the termination of my Plan’s interest in Equity Inns Preferred Stock which was formerly listed and actively traded on the New York Stock Exchange.

The actions of Goldman Sachs (and its affiliate Whitehall Street Global Real Estate, LP) and Equity Inns company management in taking Equity Inns private in September 2007 resulted in a windfall for the common stockholders and the near destruction of the interests of the preferred shareholders for whose shares no tender was made. Company management was quoted at the time as saying: “Nothing has changed except the fact it’s not public anymore.”

This could not have been farther from the truth. The combination of the excessive leveraging of the properties formerly owned by the publicly traded Equity Inns, the delisting of the preferred stock and the suspension of dividend payments within months of the restructuring has resulted in a loss to my personal retirement plan well in excess of $75,000.

The exemptive relief sought by W2007 Grace from the requirement that it file reports under Section 15(d) of the Exchange Act is premised upon shamefully disingenuous representations.

Very Truly Yours,

Christopher S. Armstrong
Attorney, Armstrong & Hastings, LLP
100 Spear Street, Suite 1435
San Francisco, CA 94105