Pebblebrook Hotel Trust, a newly organized REIT that intends to invest in hotel properties located in large US cities, filed on Friday with the SEC to raise up to $403 million in an initial public offering. The Bethesda, MD-based company is led by Jon Bortz, the former CEO of NYSE-listed hotel REIT LaSalle Hotel Properties. BofA Merrill Lynch and Raymond James are the lead underwriters on the deal. No pricing terms were disclosed.
