Pebblebrook Subsidiary to Buy US Hotel

17th October 2010 (Last Updated October 17th, 2010 18:30)

A subsidiary of Pebblebrook Hotel Trust has entered into an agreement to acquire an upscale hotel in Pennsylvania, US, for $89m. The details of the hotel were not disclosed. The company will fund the purchase price with proceeds from the company's previous equity offerings.

A subsidiary of Pebblebrook Hotel Trust has entered into an agreement to acquire an upscale hotel in Pennsylvania, US, for $89m.

The details of the hotel were not disclosed.

The company will fund the purchase price with proceeds from the company’s previous equity offerings.

The deal is expected to close within 60 days, according to citybizlist.com.

Pebblebrook Hotel Trust is a real estate investment trust in the US.