The operating partnership of lodging real estate investment trust Host Hotels & Resorts Inc. closed its $650 million public offering of 3.375% series H senior notes due Dec. 15, 2029.
The issuer, Host Hotels & Resorts LP, aims to allocate an amount equal to the net proceeds to one or more green projects, including its previous purchases of the Andaz Maui at Wailea Resort in Hawaii and the 1 Hotel South Beach in Miami Beach, Fla.
It plans to initially use the net proceeds, along with cash on hand, to redeem all the outstanding $300 million of its series Z senior notes and all the outstanding $350 million of its series B senior notes.
The Bank of New York Mellon was the trustee.
