Hersha Hospitality Trust’s Financing Commitment

Latham & Watkins LLP represented Hersha Hospitality Trust in the transaction, while Shearman & Sterling advised Citibank, N.A. as administrative agent in connection with amendments to Hersha Hospitality’s senior credit facilities.Hersha Hospitality Trust, owner of high-quality hotels in urban gateway markets and regional resort destinations, secured a strategic financing commitment from West Street Strategic Solutions Fund I, L.P. and Broad Street Credit Holdings LLC, each of which is an affiliate of the Merchant Banking business of The Goldman Sachs Group, Inc.

Hersha Hospitality Trust successfully executed amendments to its revolving credit facility and term loan facilities with its bank group in conjunction with the financing commitment.

Hersha Hospitality Trust (HT) is a self-advised real estate investment trust in the hospitality sector, which owns and operates high-quality hotels in urban gateway markets and regional resort destinations. The Company’s 41 hotels totaling 6,495 rooms are located in New York, Washington, DC, Boston, Philadelphia, South Florida and select markets on the West Coast.

Latham & Watkins LLP represented Hersha Hospitality Trust in the transaction with a corporate team led by Chicago partner Gary Axelrod (Picture), New York partner Senet Bischoff, and Los Angeles partner Pablo Clarke, with associates Euna Park and Nick Gonzalez.

Shearman & Sterling advised Citibank, N.A. with partner Malcolm K. Montgomery, associates Zachary Aries, Helen Quigley, and consultant Elizabeth Martialay.

Involved fees earner: Gary Axelrod – Latham & Watkins; Senet Bischoff – Latham & Watkins; Pablo Clarke – Latham & Watkins; Euna Park – Latham & Watkins; Zachary Aries – Shearman & Sterling; Malcolm Montgomery – Shearman & Sterling; Helen Quigley – Shearman & Sterling;

Law Firms: Latham & Watkins; Shearman & Sterling;

Clients: Hersha Hospitality Trust;

Martina Bellini

Author: Martina Bellini