Pebblebrook Hotel Trust completes $140m refinancing of Margaritaville Hollywood Beach Resort
Pebblebrook Hotel Trust has refinanced its mortgage loan on the 369-room Margaritaville Hollywood Beach Resort in Hollywood, Fla.
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.
"We are extremely pleased with the favorable terms of this loan in a challenging financing market," said Raymond D. Martz, co-president and CFO for Pebblebrook Hotel Trust. "This refinancing extends our debt maturities and preserves additional liquidity for debt paydowns and other strategic opportunities."