Pebblebrook Hotel's 6.5% preferreds admitted to begin trading on NYSE

By Tali David

Minneapolis, March 21 - Pebblebrook Hotel Trust's 6.5% series C cumulative redeemable preferred shares of beneficial interest have been admitted to trading on the New York Stock Exchange, according to a notice.

The shares trade under the symbol "PEB PR C."

The company priced $90 million of the preferreds on March 11.

As previously reported, Raymond James & Associates Inc. and Citigroup Global Markets Inc. are the joint bookrunners.

Proceeds from the offering will be contributed to the operating partnership, which will then use the funds for general corporate purposes, including acquiring and investing in hotel properties and reducing debt.

Pebblebrook is a Bethesda, Md.-based real estate investment trust focused on hotel management.

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