Hunton & Williams Represents Pebblebrook Hotel Trust In $217.5M Sale of Manhattan NYC Hotel

NEW YORK —Hunton & Williams LLP advised long-standing client Pebblebrook Hotel Trust (NYSE:PEB) in its $217.5 million sale of the Manhattan NYC.

The transaction, which closed on Tuesday, December 20, 2016, follows the October 2016 dissolution of Pebblebrook’s partnership with Denihan Hospitality Group in the ownership of six Manhattan hotels. The October dissolution resulted in Pebblebrook owning 100 percent of the interests in two of the former partnership’s six hotels: the Manhattan NYC and the Dumont NYC. The buyer of the Manhattan NYC was a partnership comprised of Patriarch Equities, the Sioni Group and Highgate.

The Manhattan NYC is a 618-room hotel, with ground floor commercial space, located at 371 Seventh Avenue near the Herald Square neighborhood of New York City.

“We are happy to have represented Pebblebrook in this important sale transaction,” said Laurie A. Grasso, a partner at Hunton & Williams. “The contract was signed quickly and the closing happened shortly thereafter, which was in line with Pebblebrook’s business plan.”

Hunton & Williams’ New York-based legal team was led by Laurie A. Grasso and associate Douglas Hoffmann.

Hunton & Williams has a robust hospitality practice that has included the following transactions: Hersha Hospitality Trust in its $571.4 million, seven-hotel sale; American Realty Capital Hospitality Trust in its acquisition of a $300 million portfolio of 13 hotels and Chatham Lodging Trust in their portfolio acquisition transactions.