Honigman Represents Pebblebrook Hotel Trust in Refinancing
Honigman Miller Schwartz and Cohn LLP represented Pebblebrook Hotel Trust in amending and restating its $450 million unsecured revolving credit facility and four term loans totaling $675 million. The deal reduced the client’s overall borrowing costs and provided more flexible operating terms.
Honigman partner Karen Pifer was the lead attorney for the deal, together with partner J. Adam Rothstein and associates Ian Cosgrove and Chris Sesi.
In 2016, Pifer and Rothstein also represented Pebblebrook Hotel Trust in the sale of three hotels for a total value of $155.4 million, including the Viceroy Miami Hotel in Miami, the Redbury Hotel, located at Hollywood and Vine in Los Angeles, and the Doubletree by Hilton Hotel located in Bethesda, Maryland.
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) that owns 28 upscale, full-service hotels in major gateway cities located in nine states and the District of Columbia.
In recent years, Honigman’s Hospitality and Lodging practice has handled more than $3 billion in hotel transactions, including purchase, sale, financing, management agreement, development, leasing and construction transactions.
In addition to representing REITs, Honigman’s clients include luxury hotel owner/operators and developers, casino owner/operators, and institutional and individual investors.