Pebblebrook Hotel to repay senior unsecured revolver via common stock

By Tali Rackner

Norfolk, Va., Sept. 3 – Pebblebrook Hotel Trust said it will contribute the proceeds from a common stock offering to operating subsidiary Pebblebrook Hotel, LP, which will use the net proceeds to repay about $91 million on its senior unsecured revolving credit facility, according to a press release.

The balance will be used for general corporate purposes, which may include acquiring and investing in hotel properties in accordance with the company’s investment strategy, and reducing debt.

Pebblebrook is a Bethesda, Md.-based real estate investment trust focused on hotel management.

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