Shearman & Sterling advised Citibank as administrative agent in connection with Hersha Hospitality’s $500 million senior secured credit facility. The $500 million credit facility consists of a $400 million term loan and an undrawn $100 million revolving credit line.
Hersha Hospitality Trust is a hospitality sector REIT that owns and operates luxury and lifestyle hotels in coastal gateway and resort markets. The Company’s 30 hotels totaling 4,544 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.
The Shearman & Sterling team below included associate Alex Bakes (NY-Real Estate).