Current Report · Items 1.01, 2.03, 7.01, 9.01 · 8-K
Pebblebrook Hotel Trust
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · Regulation FD Disclosure
Item 1.01. Entry into a Material Definitive Agreement. On February 11, 2026, Pebblebrook Hotel Trust (the “Company”), as parent guarantor, Pebblebrook Hotel, L.P. (the “Operating Partnership”), as borrower, and certain subsidiaries of the Operating Partnership, as guarantors, Bank of America, N.A.…
Filed Feb 13, 2026Accepted Feb 13, 2026, 4:33 PM ESTCIK 1474098Accession 0001474098-26-000011
Company context
Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust (“REIT”) and the largest owner of urban and resort lifestyle hotels in the United States. The Company owns 42 hotels, totaling approximately 10,800 guest rooms across 14 urban and resort markets. For more information, visit www.pebblebrookhotels.com and follow @PebblebrookPEB. This press release contains certain “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “estimated” and “will” or other similar words or expressions. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections and forecasts and other forward-looking information and estimates. Examples of forward-looking statements include the estimates of hotel net operating loss and hotel EBITDA, the intended use of proceeds and the Company’s expectation regarding the effect of the transaction on its 2026 Outlook. These forward-looking statements are subject to various risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties include, but are not limited to, the state of the U.S. economy, the operating performance of our hotels and the supply of ho
Current securities
Disclosure sections
Items 1.01, 2.03, 7.01, 9.01Select an item to read the extracted section. The as-filed document remains the primary evidence.
Item 1.01Item 1.01 - Entry into Material Agreement
Item 1.01. Entry into a Material Definitive Agreement.
On February 11, 2026, Pebblebrook Hotel Trust (the “Company”), as parent guarantor, Pebblebrook Hotel, L.P. (the “Operating Partnership”), as borrower, and certain subsidiaries of the Operating Partnership, as guarantors, Bank of America, N.A. (“BofA”), as administrative agent and L/C issuer, and certain other lenders named therein, entered into the Fourth Amendment to Fifth Amended and Restated Credit Agreement (the “Credit Agreement Amendment”) to amend the Fifth Amended and Restated Credit Agreement, dated October 13, 2022, among the Company, the Operating Partnership, certain subsidiaries of the Operating Partnership, BofA and certain other lenders named therein (as amended by the First Amendment to Fifth Amended and Restated Credit Agreement, dated January 3, 2024, the Second Amendment to Fifth Amended and Restated Credit Agreement, dated September 18, 2024, and the Third Amendment to Fifth Amended and Restated Credit Agreement, dated November 11, 2026, “Credit Agreement”).
The Operating Partnership had three terms loans outstanding under the Credit Agreement as of January 31, 2026: $360.0 million maturing on October 13, 2027 (“Term Loan A-3”), $356.7 million maturing on January 20, 2028 and $185.2 million maturing on January 19, 2029.
The Credit Agreement Amendment (i) extended the maturity date of Term Loan A-3 until February 11, 2031; (ii) provided the Operating Partnership an option to borrow, before December 15, 2026, up to an additional $90.0 million to add to Term Loan A-3; (iii) extended the initial maturity date of $48.0 million of the senior unsecured revolving credit facility governed by the Credit Agreement (the “Revolver”) from October 13, 2026 to October 13, 2028, such that the initial maturity date of the full $650.0 million capacity of the Revolver is October 13, 2028; and (iv) made various conforming and administrative changes to the Credit Agreement.
The Credit Agreement provides for two six-month extension options for the Revolver, such that the Revolver’s maturity date may be extended to October 13, 2029, subject to certain terms and conditions and the payment of an extension fee.
Following the entry into the Credit Agreement Amendment, each term loan under the Credit Agreement bears interest at a rate per annum equal to, at the option of the Company, (i) Daily Simple SOFR (as defined in the Credit Agreement) plus a margin that is based upon the Company’s leverage ratio or (ii) Term SOFR (as defined in the Credit Agreement) plus a margin that is based upon the Company’s leverage ratio. The Credit Agreement Amendment did not change such margins, which range in amount from 1.40% to 2.45% depending on the Company’s leverage ratio.
The foregoing description of the Credit Agreement Amendment is not complete and is qualified in its entirety by reference to the copy of such amendment filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 2.03Item 2.03 - Creation of Direct Financial Obligation
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The description of Term Loan A-3 set forth under Item 1.01 of this Current Report on Form 8-K, including the delayed-draw option, is hereby incorporated by reference under this Item 2.03.
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
The Company issued a press release on February 12, 2026, announcing, among other things, the maturity date extensions set forth under Item 1.01 of this Current Report on Form 8-K.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is hereby incorporated by reference herein.
Filed exhibits (1)
EX-99.1 (by filename) a021126debtamendmentprex991.htmEX-99.1
3
a021126debtamendmentprex991.htm
EX-99.1
Document
Exhibit 99.1
4747 Bethesda Avenue, Suite 1100, Bethesda, MD 20814
T: (240) 507-1300, F: (240) 396-5626
www.pebblebrookhotels.com
News Release
Pebblebrook Hotel Trust Closes New $450 Million Unsecured Term Loan
And Completes Extension Of $650 Million Unsecured Revolving Credit Facility
Bethesda, MD, February 12, 2026 - Pebblebrook Hotel Trust (NYSE: PEB) (the “Company”or “Pebblebrook”) today announced the successful refinancing of its near-term debt maturities, further strengthening its liquidity profile and extending its overall debt maturity schedule. The transaction included a new $450 million senior unsecured term loan, the early repayments of the Margaritaville Hollywood Beach Resort mortgage due in 2026 and the 2027 term loan, and the extension of the remaining $48 million portion of the revolving credit facility, restoring total revolver capacity to $650 million through October 2029, including two optional six-month extensions.
“We are greatly appreciative of the strong support from our lender group on this refinancing,” said Raymond D. Martz, Co-President and Chief Financial Officer of Pebblebrook Hotel …
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