Deal Details
Follow-On Offering
Summary
Baird served as a lead manager in this offering.
About
Hersha Hospitality Trust (NYSE: HT)(“Hersha” or the “Company”) recently completed a follow-on offering of 27.6 million shares of its common stock at $4.25 per share, generating approximately $117.3 million of gross proceeds. Hersha intends to use the net proceeds of the offering to repay outstanding indebtedness under its revolving line of credit and for general corporate purposes.Hersha Hospitality Trust is a self-advised real estate investment trust, which owns interests in 76 hotels, totaling 9,838 rooms, primarily along the Northeast Corridor from Boston to Washington, D.C. 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.
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- Date
- March 2010
- Company
- Hersha Hospitality Trust
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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