Hersha Hospitality Trust Acquires Seattle’s 153-Room Pan Pacific Hotel for $79 Million

Hersha Hospitality Trust | February 23, 2017

PHILADELPHIA-February 23, 2017-Hersha Hospitality Trust (NYSE: HT, "Hersha" or the "Company"), owner of upscale hotels in urban gateway markets, announced the Company acquired the 153-room Pan Pacific Hotel in Seattle, WA for $79.0 million. The Pan Pacific Hotel is part of the 2200 Westlake mixed-use project, which was developed by Seattle-based Vulcan Inc. in 2006. The property is located at the gateway to South Lake Union, Seattle's fastest growing neighborhood, where Vulcan has developed 6.3 million square feet of office, biotech, residential, and retail and hospitality projects since 2004. "The Pan Pacific Hotel was one of our most ...