Hospitality Properties Trust, Newton, Mass., has priced a public offering of 12.0 million shares of series C cumulative redeemable preferred shares at a liquidation preference of $25 per share.The company, a real estate investment trust that specializes in hotels, said it expects to use the net proceeds of the offering to repay a portion of the debt incurred to fund its recently completed acquisition of TravelCenters of America. The underwriters have been granted an option to buy up to 1.8 million additional shares of stock to cover any overallotments. Merrill Lynch & Co., UBS Investment Bank, and Wachovia Securities are the joint book-running managers of the offering. Hospitality Properties can be found on the Internet at http://www.hptreit.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry