trending Market Intelligence /marketintelligence/en/news-insights/trending/Bft-VOExjdEEKqJyvUWu9w2 content esgSubNav
In This List

Pebblebrook Hotel completes $217.5M sale of NYC hotel

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

Understanding Loss Given Default A Review of Three Approaches

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends


Pebblebrook Hotel completes $217.5M sale of NYC hotel

Pebblebrook Hotel Trust closed the sale of the 618-room Manhattan NYC hotel in Manhattan, N.Y., for $217.5 million.

Proceeds from the sale will be used to repay a $140.0 million loan secured by the property and for general corporate purposes, including repaying outstanding debt and repurchasing common shares.

Pebblebrook Chairman, President and CEO Jon Bortz said in a release that "this sale represents our second significant step towards reducing our exposure to the New York market."

Pebblebrook announced its plan to reduce exposure to New York in October with the sale of its interests in four hotels in the city.