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Pebblebrook Hotel Trust to Acquire Margaritaville Hollywood Beach Resort for $270M

Pebblebrook Hotel Trust has announced that it executed a contract to acquire the 369-room Margaritaville Hollywood Beach Resort in Hollywood, FL. for $270 million.

Located on the Hollywood Beach Broadwalk, the 18-story resort features a number of pools and fitness center as well as a selection of eight restaurants, including Jimmy Buffett’s Margaritaville, LandShark Bar & Grill and the 5 o’ Clock Somewhere Bar & Grill.

The acquisition is anticipated to be funded from existing cash on hand and is targeted to be completed by the end of the third quarter of 2021. As part of the acquisition, the Company may assume up to $161.5 million of secured, non-recourse debt currently in place.

The Company also announced that it intends to market for sale the 189-room Villa Florence San Francisco on Union Square in San Francisco.

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Pebblebrook Hotel Trust

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition