PEBBLEBROOK HOTEL TRUST, DENIHAN HOSPITALITY COMPLETE $910M JOINT VENTURE

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NEW YORK CITY — Pebblebrook Hotel Trust has acquired a 49 percent interest in a joint venture with Denihan Hospitality Group that owns six upscale hotels in Manhattan valued at $910 million, which includes $596.6 million in mortgage and mezzanine debt. Pebblebrook will make a $153.6 million equity investment in the joint venture, and Pebblebrook and Denihan will make all decisions jointly. The six hotels — Affinia Manhattan, Affinia Shelburne, Affinia Dumont, Affinia 50, Affinia Gardens and The Benjamin — comprise 1,640 guest rooms.

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