Pebblebrook Puts Up $112.5M To Acquire San Diego Hotel

Law360, New York (January 30, 2013, 1:50 PM EST) -- Banking on predictions of a strong year for the hotel sector in 2013, Pebblebrook Hotel Trust has added a Hilton-branded San Diego hotel to its portfolio for $112.5 million, it announced Wednesday.

As part of the deal, the real estate investment trust is assuming a $66.8 million loan and paying the rest in cash. It will also be changing the property's management to HEI Hotels and Resorts, according to a statement. The news follows a strong investor outlook report Pebblebrook released earlier this month, which predicted...
To view the full article, register now.