Honigman Represents Pebblebrook Hotel Trust in Connection with Acquisition of LaSalle Hotel Properties
Along with others, Honigman represented Pebblebrook Hotel Trust (NYSE:PEB) (“Pebblebrook”) in connection with Pebblebrook’s acquisition of LaSalle Hotel Properties which became effective November 30, 2018.
Honigman’s representation included negotiation of financing for the acquisition in an aggregate amount of $1.75 billion, the sale of three hotels with a total transaction value of $782 million ($715 million for Park Central San Francisco and Park Central New York/WestHouse New York; and $67 million for Embassy Suites Philadelphia Center City) and assisted in coordination of the merger closing.
Honigman’s deal team for the asset sale transactions and merger coordination was led by J. Adam Rothstein, vice chair of the Real Estate department, while its deal team for the financings was led by Karen R. Pifer. Also on the deal for Honigman were associates Renee D. Naylor, Bryan L. Coe and Daniel P. Mooney.
Pebblebrook Hotel Trust is a publicly traded real estate investment trust that acquires and invests primarily in upper upscale, full-service hotels in urban markets in major gateway cities throughout the U.S. Since 2010, Honigman has served as transaction counsel for Pebblebrook handling a majority of purchase and sales transactions, and loan and credit facilities.