Honigman assists in hotel acquisition

Honigman Miller Schwartz and Cohn LLP has represented key client Pebblebrook Hotel Trust in its acquisition of the Revere Hotel Boston Common, in what is one of the single largest hotel asset purchases in the U.S. this year.

Valued at $260.4 million, the deal, which includes the hotel along with an attached 826-space parking garage and an adjacent land parcel, is one of four acquisitions Honigman has completed for Pebblebrook within just the last five weeks. The 356-room hotel is located in the heart of the historic Theater District of downtown Boston, Massachusetts.

Earlier this month, led by Honigman, Pebblebrook also purchased the 125-room, historic landmark Union Station Hotel, Autograph Collection in Nashville, Tennessee, for $52.3 million. That deal followed Pebblebrook's $78.7 million acquisition of a 264-room hotel in Los Angeles last month and its purchase of the 157-room Westin Colonnade Hotel in Miami for $59.4 million, both also guided by Honigman.

"Our involvement with Pebblebrook Hotel Trust dates from virtually its inception in early 2010, and these last few months have been packed with an impressive array of complicated, fast moving deals for a very sophisticated client," said Adam Rothstein, partner in Honigman's Retail and Hospitality Practice Groups who worked on the deal with Karen R. Pifer. "Given the size and complexity of these deals, closing them on time and in accordance with the client's goals is a testament to our great working relationship with the client and the skill of both Pebblebrook's team and our Hospitality group at Honigman. We look forward to many more transactions with them in 2015 and beyond."

Pebblebrook Hotel Trust is a publicly traded real estate investment trust ("REIT") organized to opportunistically acquire and invest primarily in upper upscale, full-service hotels located in urban markets in major gateway cities. The company owns 35 hotels, including 29 wholly owned hotels with a total of 6,948 guest rooms and a 49% joint venture interest in six hotels with a total of 1,775 guest rooms.

Published: Tue, Dec 30, 2014