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January 25, 2011

Pebblebrook Secures Loan to Fund Acquisitions

Pebblebrook has secured a $36m loan from Goldman Sachs Commercial Mortgage Capital at a fixed annualised interest rate of 5.28% for five years. The proceeds from the loan will be used to fund future acquisitions and for general business purposes. With the completion of thi

By cms admin

Pebblebrook has secured a $36m loan from Goldman Sachs Commercial Mortgage Capital at a fixed annualised interest rate of 5.28% for five years.

The proceeds from the loan will be used to fund future acquisitions and for general business purposes.

With the completion of this financing, the US-based hotel group has $282m cash on its balance sheet and $210m of outstanding debt.

Pebblebrook said the capital generated from recently completed debt transactions, combined with the available capacity from its credit facility, will help its acquisition of properties.

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