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Pebblebrook to pay down debt with $400 million in senior notes

By CoStar News 0 comments

Pebblebrook Hotel Trust will use $400 million in new senior notes to pay off some of its existing debt. The REIT has been a net seller of hotels within the last year or so, taking advantage of the private market value of its hotels compared to its stock price and using proceeds from the sales to do share buybacks and pay down debt. Pictured above is the 221-key Hotel Zoe Fisherman's Wharf in San Francisco, which the REIT sold for $68.5 million in late 2023. (CoStar)
New notes will be due in 2029