Preferred Equity Offering

Real Estate
Preferred Equity Offering

Summary

Baird served as a book-running manager on this offering.

About

Summit Hotel Properties, Inc. (NYSE: INN) (“Summit” or the “Company”) recently completed an offering of 3,000,000 shares of its 7.875% Series B Cumulative Redeemable Preferred Stock at a price of $25.00 per share, generating gross proceeds of $75.0 million. The Company intends to use the net proceeds from the offering to reduce the outstanding balance on its revolving credit facility and the balance, if any, for general corporate purposes.

Summit Hotel Properties, Inc. is a self-advised real estate investment trust focused on acquiring and owning premium-branded select-service hotels in the upscale and upper mid-scale segments. The Company’s hotel portfolio consists of 82 hotels, containing a total of 8,674 guestrooms, located in 21 states.

For additional information about this transaction, please contact:

Steve Goldberg (202) 303-1808
Justin Glasgow (202) 303-1813
Peter Kies (414) 765-7262
Gary Placek (414) 765-3611
Matt Fiorita (414) 765-3816
Real Estate
Preferred Equity Offering
Date
December 2012
Company
Summit Hotel Properties, Inc.
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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