Jun
02
Pebblebrook Checks Out of Two Hotel Assets
ByThe hotel REIT scored higher prices for its two properties in Los Angeles and Miami.
Los Angeles, Miami, Boston– Pebblebrook Hotel Trust is hot off an important slew of asset sales that have secured the company more than $110 million. The real estate investment trust that specializes in the hospitality market has recently closed on the sale of three properties: The Redbury Hotel in Los Angeles, the Viceroy Hotel in Miami, and a plot of land near the Revere Hotel Boston Common in Boston.
Funds sourced through the sale of the properties will be used by Pebblebrook to reduce its debt, offer cash dividends, as well as other business purposes. According to the statement announcing the transactions, the company closed on the sale of the land parcel on May 5, while the two hotel sales closed on June 1….
Pebblebrook Checks Out of Two Hotel Assets
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