June 22, 2017
NEW YORK — June 22, 2017 — Hunton & Williams LLP advised long-standing client Pebblebrook Hotel Trust (NYSE:PEB) in its $118 million sale of the Dumont NYC.
Hunton & Williams LLP advised long-standing client Pebblebrook Hotel Trust (NYSE:PEB) in its $118 million sale of the Dumont NYC.
The transaction, which closed on Tuesday, June 20, 2017, follows the October 2016 dissolution of Pebblebrook’s partnership with Denihan Hospitality Group in the ownership of six Manhattan hotels. The October 2016 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 Dumont NYC is a 252-room hotel adjoined by a residential rental building with ground floor commercial space in the Murray Hill neighborhood of New York City.
Hunton & Williams’ legal team was led by New York partner Laurie A. Grasso and associate Douglas Hoffmann. The firm previously represented Pebblebrook on the $217.5 million sale of the Manhattan NYC, which closed in December of 2016.
“This sale of the Dumont NYC completes Pebblebrook’s exit from the New York market,” said Laurie A. Grasso, a partner at Hunton & Williams. “We are happy and honored to have assisted them in successfully carrying out this important strategic business plan,” said Grasso.
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.
About Hunton & Williams LLP
Hunton & Williams is a global law firm of more than 750 lawyers serving clients in the United States, Europe, Latin America and Asia. The firm handles transactional, litigation and regulatory matters for a diverse client base, with significant experience in retail and consumer products, energy, financial services, real estate, and privacy and cybersecurity. Visit www.hunton.com and follow us on Twitter, LinkedIn and YouTube.
Pebblebrook Exits New York, Completes $118Mln Sale of Dumont NYC, Commercial RealEstate Direct, June 21, 2017.
Pebblebrook Hotel REIT Sells Dumont NYC For $118M, Law360, June 21, 2017.
Hunton & Williams Reps Pebblebrook Hotel Trust in $118 Million Sale, New York Real Estate Journal, July 18, 2017.