Hersha Hospitality Trust 8-K 1-3-2006
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of
1934
Date
of Report (Date of earliest event reported): January 3,
2006
HERSHA
HOSPITALITY TRUST
(Exact
name of registrant as specified in its charter)
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Maryland
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001-14765
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251811499
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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510
Walnut Street, 9th
Floor
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Philadelphia,
Pennsylvania 19106
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(Address
and zip code of principal executive
offices)
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Registrant’s
telephone number, including area code: (215)
238-1046
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instructions A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
2.01.
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Completion
of Acquisition or Disposition of
Assets.
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On
January 3, 2006, Hersha Hospitality Trust, a Maryland real estate investment
trust (“Hersha”), closed on the acquisition of the land, improvements and
personal property related to three hotels in Pennsylvania and New Jersey from
Charlene Schwartz; Langhorne Courtyard, Inc.; Mt. Laurel FFI, Inc. and Bethlehem
FFI, Inc. (collectively, the “Sellers”) who are not affiliated with Hersha. The
three hotels include the Fairfield Inn and Suites located at 350 Century Parkway
in Mt. Laurel, New Jersey; the Fairfield Inn and Suites located at 2140 Motel
Drive in Bethlehem, Pennsylvania and the Langhorne Courtyard located at 5 N.
Cabot Boulevard in Langhorne, Pennsylvania (collectively, the “Hotels”). The
purchase price for the Hotels was approximately $40.5 million and is subject
to
a post closing adjustment on June 30, 2007, which shall not increase the
aggregate purchase price by more than $2.5 million. The acquisition was financed
with available cash on hand and mortgages with a combined principal amount
of
$29.2 million and a fixed interest rate of 5.75%. A copy of the Purchase
Agreement was filed as Exhibit 10.1 to the Current Report on Form 8-K filed
by
Hersha Hospitality Trust on October 28, 2005.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.
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HERSHA
HOSPITALITY TRUST |
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Date:
January 9,
2006
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By:
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/s/Ashish
R. Parikh
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Ashish
R. Parikh
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Chief
Financial Officer
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