Honigman represents Pebblebrook Hotel Trust in sale of Hotel Spero
Honigman LLP recently represented Pebblebrook Hotel Trust in its sale of Hotel Spero in San Francisco, CA for $71 million.
Hotel Spero blends unique San Francisco style with historical Spanish Colonial design. The lobby’s historic elements have been preserved and incorporated into the updated design, including hand painted ceiling beams, original marble floors, and decorative grillage. The 236-room hotel has earned a spot on the National Register of Historic Places in San Francisco.
Honigman’s deal team was led by J. Adam Rothstein (Co-Chair of Real Estate Department) and supported by Renee Naylor (Partner), and Jon Andersh (Associate).
Proceeds from the sale of Hotel Spero will be used for general corporate purposes and reducing Pebblebrook Hotel Trust’s outstanding debt borrowings associated with recent hotel acquisitions, in accordance with the Company’s investment strategy.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 52 hotels and resorts, totaling approximately 12,900 guest rooms across 15 urban and resort markets. For more information, visit www.pebblebrookhotels.com.
Honigman is an Am Law 200 full-service, general business law firm with more than 330 attorneys across the country in Chicago, Michigan (Ann Arbor, Bloomfield Hills, Detroit, Grand Rapids, Kalamazoo and Lansing), and our newest office in Washington, D.C. Our lawyers counsel clients on complex issues in more than 60 areas of law. For more information, visit www.honigman.com.