Pebblebrook Hotel Trust Announces Closing of Public Offering of 5.700% Series H Cumulative Redeemable Preferred Shares
Pebblebrook Hotel Trust (NYSE: PEB) has successfully completed its public offering of 10 million 5.700% Series H Cumulative Redeemable Preferred Shares at $25.00 each, raising gross proceeds of $250 million.
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Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”) today announced it has closed its previously announced underwritten public offering of 10,000,000 of its
The Company contributed the net proceeds from the sale of the Shares to its operating partnership. The operating partnership will use the net proceeds to redeem the Company’s outstanding
Wells Fargo Securities, Raymond James and BofA Securities acted as the joint book-running managers of the offering. Baird and Stifel acted as the joint lead managers of the offering. PNC Capital Markets LLC and US Bancorp acted as senior co-managers. Capital One Securities, Regions Securities LLC, Scotiabank, SMBC Nikko and TD Securities acted as co-managers.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and a leading owner of urban and resort lifestyle hotels in the United States. The Company owns 52 hotels, totaling approximately 12,800 guest rooms across 14 urban and resort markets with a focus on the west coast gateway cities.
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