Pebblebrook may reduce debt with proceeds from sale of two hotels

By Sarah Lizee

Olympia, Wash., March 9 – Pebblebrook Hotel Trust may reduce its outstanding debt using proceeds from the sale of the 422-room InterContinental Buckhead Atlanta and the 237-room Sofitel Washington DC Lafayette Square for $331 million to a third party on Friday, according to a press release.

The company said proceeds will be used for general corporate purposes, which may include the debt reduction.

Pebblebrook Hotel Trust is a Bethesda, Md.-based real estate investment trust that acquires and invests primarily in upper upscale, full-service hotels located in urban markets in major gateway cities.

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