Shearman & Sterling represented Citigroup Global Markets Inc., as joint lead arranger and joint book running manager, in connection with a $300 million syndicated unsecured term loan facility for Hersha Hospitality Trust (NYSE: HT).
Hersha Hospitality Trust is a self-advised real estate investment trust in the hospitality sector, which owns and operates high quality upscale hotels in urban gateway markets. The company's 52 hotels, totaling 8,414 rooms, are located in New York, Boston, Philadelphia, Washington, DC and select markets on the West Coast and South Florida.
The Shearman & Sterling team included partner Malcolm Montgomery (New York-Real Estate) and associates Jocelyn Redman (Washington, DC-Real Estate) and Julia Twarog (New York-Corporate).
