BETHESDA, MARYLAND The investment arm of Harvard University owns 6.5% of Pebblebrook Hotel Trust, according to a new Securities and Exchange Commission filing by Harvard Management Company Inc.
Harvard owns 2.6 million shares of the REIT, worth more than US$54 million.
Pebblebrook recently filed with the SEC to sell common shares and debt securities that could net the REIT up to US$500 million. The share sale, which could occur at any time, would be used to fund general corporate purposes, including investing and paying down debt.
Pebblebrook, founded in December 2009 by former LaSalle Hotel Properties CEO Jon Bortz, is close to finalizing what would be its ninth hotel acquisition in the past calendar year: the 252-key Argonaut Hotel, San Francisco.