Real Estate News

Hersha Hospitality Trust Closes the Sale of Hotel Milo Santa Barbara and Pan Pacific Seattle

– Price implies a blended 2.9% cap rate and 27.0x EBITDA multiple on 2019 results and a ~ $455K per key valuation–

– Coupled with the USS-7 sale and pending dispositions, the sale of Hotel Milo and Pan Pacific would increase total sales to nearly $650M in 2022–

– Funds from Sales facilitate Debt repayment of $500M and generate unrestricted cash of approximately $120M–

PHILADELPHIA, Oct.

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