Follow-On Offering

Real Estate
Follow-On Offering

Summary

Baird served as a lead manager in this offering.

About

Hersha Hospitality Trust (“Hersha” or “the Company”) (NYSE: HT) recently completed a follow-on offering of 51,750,000 shares of its common stock at $3.00 per share, generating gross proceeds of approximately $155.3 million. The Company intends to use the net proceeds of the offering to acquire a Hampton Inn and a Candlewood Suites located in Times Square, New York, to repay outstanding indebtedness under its revolving line of credit and for general corporate purposes.

Hersha is a self-advised real estate investment trust, which owns interests in 74 hotels, totaling 9,392 rooms, primarily along the Northeast Corridor from Boston to Washington, D.C., as of December 31, 2009. The Company also owns hotels in Northern California and Scottsdale, Arizona. Hersha focuses on upscale, mid-scale and extended stay hotels in major metropolitan markets.

For additional information about this transaction, please contact:

Mark Decker, Sr. (703) 821-5760
Mark Decker, Jr. (703) 821-5761
Justin Glasgow (703) 821-5763
Real Estate
Follow-On Offering
Date
January 2010
Company
Hersha Hospitality Trust
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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