Hersha Hospitality repays, terminates credit agreement after buyout

By Mary-Katherine Stinson

Lexington, Ky., Nov. 28 – Hersha Hospitality Trust fully repaid and terminated the commitments under its credit agreement dated Aug. 4, 2022, according to an 8-K filed with the Securities and Exchange Commission.

There were no early termination penalties.

The agreement for both the secured term loan and the secured revolving line of credit was scheduled to mature Aug. 4, 2024.

The repayment was in connection with the closing of Hersha’s acquisition by KSL Capital Partners LLC for $10.00 per share in an all-cash transaction valued at about $1.4 billion.

Hersha Hospitality is a Harrisburg, Pa.-based self-advised real estate investment trust that owns luxury and lifestyle hotels in coastal gateway and resort markets.

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