Attached files
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8-K - FORM 8-K - Pebblebrook Hotel Trust | w81079e8vk.htm |
EX-10.1 - EX-10.1 - Pebblebrook Hotel Trust | w81079exv10w1.htm |
Exhibit 99.1
2 Bethesda Metro Center, Suite 1530, Bethesda, MD 20814 T: (240) 507-1300, F: (240) 396-5626 www.pebblebrookhotels.com |
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News Release
PEBBLEBROOK HOTEL TRUST COMPLETES $31.0 MILLION, 5.44 PERCENT, SECURED DEBT FINANCING
Bethesda, MD,
January 6, 2011
Pebblebrook Hotel Trust (NYSE: PEB) (the Company) today announced that it has successfully executed
a new $31.0 million secured loan with UBS Real Estate Securities Inc. that is expected to fund
January 25, 2011. The loan has a fixed annualized interest rate of 5.44 percent and
a term of five years. The loan is collateralized by a first mortgage on the 254-room Skamania Lodge in
Stevenson, Washington, and proceeds from the loan will be used to fund future acquisitions and for general
business purposes.
With the completion of this financing, the Company has $174.6 million of debt outstanding at a
weighted average annual interest rate of 4.07 percent. The Company has no outstanding balance
on its $150.0 million senior secured credit facility.
About Pebblebrook Hotel Trust
Pebblebrook Hotel Trust is a publicly traded real estate investment trust (REIT) organized to
opportunistically acquire and invest primarily in upper-upscale, full-service hotels located in large
urban and resort markets with an emphasis on the major coastal cities. The company owns eight hotels,
with a total of 2,300 guest rooms.
Click here to visit the Pebblebrook Hotel Trust website: www.pebblebrookhotels.com
This press release contains certain forward-looking statements relating to, among other things,
potential property acquisitions. Forward-looking statements are generally identifiable by use of forward-looking
terminology such as may, will, should, potential, intend,
expect, seek, anticipate, estimate, approximately,
believe, could,
project, predict, forecast, continue, plan
or other similar words or expressions. Forward-looking statements are based on certain assumptions and
can include future expectations, future plans and strategies, financial and operating projections or other
forward-looking information. These forward-looking statements are subject to various risks and
uncertainties, many of which are beyond the Companys control, which could cause actual results to
differ materially from such statements. These risks and uncertainties include, but are not
limited to, the state of the U.S. economy and the supply of hotel properties, and other factors as
are described in greater detail in the Companys filings with the Securities and Exchange Commission,
including, without limitation, the Companys Prospectus on Form 424(b)(1) filed on
July 23, 2010. Unless legally required, the Company disclaims any obligation to update any
forward-looking statements, whether as a result of new information, future events or otherwise.
For further information about the Companys business and financial
results, please refer to the Managements Discussion and Analysis of Financial Condition and Results
of Operations and Risk Factors sections of the Companys SEC filings, including, but not
limited to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may
be obtained at the Investor Relations section of the Companys website
at www.pebblebrookhotels.com.
All information in this release is as of January 6, 2011. The Company undertakes no duty to update the
statements in this release to conform the statements to actual results or changes in the Companys expectations.
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Additional Contacts:
Raymond D. Martz, Chief Financial Officer,
Pebblebrook Hotel Trust (240) 507-1330
For additional information or to receive press releases via email, please visit our website at
www.pebblebrookhotels.com
www.pebblebrookhotels.com