Rochester, MN, USA - July 6, 2004 - The newly built Oakwood Broadway Plaza is now pre-leasing its luxury furnished apartments near the Mayo Clinic. For stays of 30 days or longer, rates start at US$95 per day for a one bedroom, US$140 per day for a two bedroom and US$155 per day for a three bedroom suite. Short-term stays are also available by calling the sales office at 507.424.4200. Oakwood Broadway Plaza is located at 15 1st Street, SE in Rochester, Minnesota and can be found online at www.oakwoodbroadwayplaza.com.

The residences are perfect for visiting patients and doctors, as well as corporate travelers or local residents who desire luxury furnished apartment accommodations. Weekly maid service, all utilities, satellite television, concierge, and a 24-hour front desk are all included in the stay. Guests can also get high speed Internet, phone service, voicemail and valet for a reasonable charge.

"We're so excited to be the first to offer Rochester visitors a spectacular new luxury furnished apartment alternative to hotels," says Kim Krollman, regional sales manager for Oakwood Worldwide.

Oakwood Broadway Plaza's many first-class amenities include: a suite of designer furniture in every residence; luxury linens; fully equipped gourmet kitchen with granite countertops and solid cherry wood cabinets with deluxe dinnerware; a state-of-the-art fitness center with indoor swimming pool, spa, and cold plunge; and stunning panoramic views from every apartment. The property will also have restaurants, retail space and Skyway access to the Mayo Clinic and all of downtown Rochester.

Oakwood Broadway Plaza has redefined Rochester's skyline as the tallest building in Rochester with 146 fully appointed residences ideally situated in downtown Rochester near the world renowned Mayo Clinic. The building is owned by Rochester Development, Inc. and is managed by Oakwood Worldwide, the largest provider of serviced apartments in the world.

Rochester Development Inc. is an affiliate of the developer Royal Management and Development, Inc. (www.royalontheweb.com), a full-service real estate firm based in Annandale, Virginia. The company, along with its affiliates, currently owns and manages over a million square feet of upscale residential and commercial office space in Northern Virginia, Atlanta, Washington, D.C.; and now, Oakwood Broadway Plaza in Rochester, Minnesota. Its services encompass all aspects of development, investment and property management.

Founded in 1960, Oakwood Worldwide (www.oakwood.com) is the largest global provider of corporate housing and an innovative leader in apartment management. The company manages a $2 billion portfolio, with locations throughout the U.S., the U.K. and Asia, encompassing more than 30,000 furnished and unfurnished apartments. Oakwood's award-winning properties are managed with a rich standard of quality, reliability and personal service.