Keyword: Pebblebrook Hotel Trust
A 130-percent spike in portfolio acquisitions helped to drive hotel deal volume to $34 billion last year, according to JLL.
2018 saw some major deals totaling $18.3 billion and approximately 51,100 hotel rooms with an average sale price per room of $357,000, according to LWHA.
The Americas Lodging Investment Summit honored the executives and companies responsible for the most influential hotel industry deals in 2018.
These are the first two sales from the Maryland-based real estate investment trust following its $5.2 billion merger with LaSalle Hotel Properties in November.
The loan will provide funding for the proposed merger, as well as financing to pay off outstanding debt owed by LaSalle, as well as other transaction closing costs.
With the planned acquisition of LaSalle imminent, Pebblebrook is looking to offload as much as $1 billion in assets.
LaSalle’s board of trustees decided that Pebblebrook’s offer constituted a "superior proposal" as defined in the Blackstone merger agreement.
With just over two weeks to go before LaSalle Hotel Properties votes on an acquisition offer from Blackstone, Pebblebrook Hotel Trust has upped the ante again.
If LaSalle's board of trustees considers Pebblestone's latest offer to be a superior proposal, the Blackstone agreement could be in jeopardy.
Blackstone has agreed to buy REIT LaSalle Hotel Properties in an all-cash deal valued at $4.8 billion, or $33.50 per share.