Hotel real estate investment trusts Pebblebrook Hotel Trust and LaSalle Hotel Properties will hold separate special shareholders meetings Nov. 27 to vote on the companies' proposed merger.

Shareholders of record at both REITs as of Oct. 23 will be entitled to vote at the meetings.

The merger, under which Pebblebrook plans to exchange either 0.92 of a Pebblebrook common share or $37.80 in cash for every LaSalle share, is expected to be declared effective by the SEC on Oct. 29. A maximum of 30% of LaSalle's outstanding shares may be exchanged for cash.