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Pebblebrook, LaSalle Hotel Agree to $5.2B Merger

Pebblebrook Hotel Trust and LaSalle Hotel Properties jointly agreed to merge in a deal that would see Pebblebrook acquire 100% of LaSalle’s outstanding common shares. The transaction is valued at roughly $5.2 billion, and has been approved through a unanimous vote by Pebblebrook’s Board of Trustees and a unanimous vote by members of the LaSalle Board of Trustees present.

Under the terms, for each LaSalle common share owned, LaSalle shareholders will receive either a fixed amount of $37.80 in cash, or a fixed exchange ratio of 0.92 Pebblebrook common share.

LaSalle also terminated its previously announced merger agreement with affiliates of The Blackstone Group L.P. A special meeting of LaSalle shareholders previously scheduled for September 6, 2018 relating to the Blackstone-LaSalle Agreement was cancelled.

Upon closing, Pebblebrook will have a portfolio of 66 assets in or near 16 key urban markets, and will remain HQ’d in Bethesda, MD.

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*Pictured Westin Copley Place Boston


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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