Florida & Gulf Coast + Central Florida + Hospitality | May 16, 2022

Pebblebrook Hotel Trust has purchased the 119-room Inn on Fifth in Naples, FL for $156 million.

Inn on Fifth in Naples Trades to Pebblebrook Hotel Trust for $156M

Bethesda, MD-based Pebblebrook Hotel Trust has acquired the AAA Four Diamond 119-room Inn on Fifth in Naples, FL for $156 million. The company has retained Noble House Hotels & Resorts to manage this independent luxury resort property at the center of downtown Naples.

The acquisition of Inn on Fifth brings the total number of properties in the company’s portfolio to 54, including 12 unique drive-to, independent lifestyle resorts and six properties in South FL.

The company funded the acquisition with approximately $78 million of cash and approximately $77.6 million of perpetual preferred operating partnership units (3.104 million units at $25.00 per unit) with an annual distribution rate of 6.0% and approximately $0.4 million of common units.

Pebblebrook Hotel Trust is a publicly traded real estate investment trust. The company owns 54 hotels and resorts totaling approximately 13,400 guest rooms across 15 urban and resort markets.

Connect

Inside The Story

Pebblebrook Hotel Trust

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.