{"id":782970,"date":"2023-09-11T07:13:03","date_gmt":"2023-09-11T11:13:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/"},"modified":"2023-09-11T07:13:03","modified_gmt":"2023-09-11T11:13:03","slug":"pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/","title":{"rendered":"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort<\/b><\/p>\n<p>BETHESDA, Md.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nPebblebrook Hotel Trust (NYSE: PEB) (the \u201cCompany\u201d) today announced that on September 7, 2023, it successfully refinanced its mortgage loan on the 369-room Margaritaville Hollywood Beach Resort (\u201cMargaritaville Hollywood\u201d) in Hollywood, Florida.<\/p>\n<p>\nThe $140.0 million secured loan has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The Company executed interest rate swaps to establish a fixed interest rate of 7.0% throughout the loan&#8217;s duration. The payoff of the remaining $21.5 million of the previously existing $161.5 million CMBS loan secured by the resort was funded by the Company\u2019s cash on hand.<\/p>\n<p>\n\u201cWe are extremely pleased with the favorable terms of this loan in a challenging financing market,\u201d said Raymond D. Martz, Co-President and Chief Financial Officer for Pebblebrook Hotel Trust. \u201cThis refinancing extends our debt maturities and preserves additional liquidity for debt paydowns and other strategic opportunities.\u201d<\/p>\n<p>\nWells Fargo Securities, LLC served as the Sole Lead Arranger in forming a syndicate of lenders for the financing, and Wells Fargo Bank, NA will serve as Administrative Agent.<\/p>\n<p>\nAs a result of the Margaritaville Hollywood refinancing, the effective weighted average interest rate of the Company\u2019s total outstanding debt and convertible notes is approximately 4.3%, with 78% of the Company\u2019s debt at fixed interest rates and 22% at floating interest rates.<\/p>\n<p><b><span class=\"bwuline\">About Pebblebrook Hotel Trust<\/span><\/b><\/p>\n<p>\nPebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (\u201cREIT\u201d) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 47 hotels, totaling approximately 12,200 guest rooms across 13 urban and resort markets. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pebblebrookhotels.com&amp;esheet=53551304&amp;newsitemid=20230911855692&amp;lan=en-US&amp;anchor=www.pebblebrookhotels.com&amp;index=1&amp;md5=3498a2bba8a1896851670b901d899118\">www.pebblebrookhotels.com<\/a> and follow us at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fpebblebrookpeb&amp;esheet=53551304&amp;newsitemid=20230911855692&amp;lan=en-US&amp;anchor=%40PebblebrookPEB&amp;index=2&amp;md5=6477de9f280b356723720d777ec1bafc\">@PebblebrookPEB<\/a>.<\/p>\n<p class=\"bwalignc\"><b>###<\/b><\/p>\n<p class=\"bwalignc\"><i>For additional information or to receive press releases via email, please visit our website at <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.pebblebrookhotels.com&amp;esheet=53551304&amp;newsitemid=20230911855692&amp;lan=en-US&amp;anchor=www.pebblebrookhotels.com&amp;index=3&amp;md5=0c652f190c866eb44469871dc839222f\"><i>www.pebblebrookhotels.com<\/i><\/a><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230911855692r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230911855692\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230911855692\/en\/<\/a><\/span><\/p>\n<p>\nRaymond D. Martz<br \/>\n<br \/>Co-President and Chief Financial Officer<br \/>\n<br \/>Pebblebrook Hotel Trust<br \/>\n<br \/>(240) 507-1330<\/p>\n<p><b>KEYWORDS:<\/b> Florida Maryland United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> REIT Vacation Lodging Construction &amp; Property Travel<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230911855692\/en\/388988\/3\/Pebblebrook_Logo_Low_Res.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort BETHESDA, Md.&#8211;(BUSINESS WIRE)&#8211; Pebblebrook Hotel Trust (NYSE: PEB) (the \u201cCompany\u201d) today announced that on September 7, 2023, it successfully refinanced its mortgage loan on the 369-room Margaritaville Hollywood Beach Resort (\u201cMargaritaville Hollywood\u201d) in Hollywood, Florida. The $140.0 million secured loan has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The Company executed interest rate swaps to establish a fixed interest rate of 7.0% throughout the loan&#8217;s duration. The payoff of the remaining $21.5 million of the previously existing $161.5 million CMBS loan secured by the resort was funded by the Company\u2019s cash on hand. \u201cWe are extremely pleased with the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-782970","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort BETHESDA, Md.&#8211;(BUSINESS WIRE)&#8211; Pebblebrook Hotel Trust (NYSE: PEB) (the \u201cCompany\u201d) today announced that on September 7, 2023, it successfully refinanced its mortgage loan on the 369-room Margaritaville Hollywood Beach Resort (\u201cMargaritaville Hollywood\u201d) in Hollywood, Florida. The $140.0 million secured loan has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The Company executed interest rate swaps to establish a fixed interest rate of 7.0% throughout the loan&#8217;s duration. The payoff of the remaining $21.5 million of the previously existing $161.5 million CMBS loan secured by the resort was funded by the Company\u2019s cash on hand. \u201cWe are extremely pleased with the &hellip; Continue reading &quot;Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-11T11:13:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230911855692r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort\",\"datePublished\":\"2023-09-11T11:13:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\\\/\"},\"wordCount\":356,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230911855692r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\\\/\",\"name\":\"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort - 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The $140.0 million secured loan has a three-year initial term with two one-year extension options, subject to the satisfaction of certain conditions. The Company executed interest rate swaps to establish a fixed interest rate of 7.0% throughout the loan&#8217;s duration. The payoff of the remaining $21.5 million of the previously existing $161.5 million CMBS loan secured by the resort was funded by the Company\u2019s cash on hand. \u201cWe are extremely pleased with the &hellip; Continue reading \"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/","og_site_name":"Market Newsdesk","article_published_time":"2023-09-11T11:13:03+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230911855692r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort","datePublished":"2023-09-11T11:13:03+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/"},"wordCount":356,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230911855692r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pebblebrook-hotel-trust-completes-140-million-refinancing-of-margaritaville-hollywood-beach-resort\/","name":"Pebblebrook Hotel Trust Completes $140 Million Refinancing of Margaritaville Hollywood Beach Resort - 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