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): October 6, 2010
LASALLE HOTEL PROPERTIES
(Exact name of registrant as specified in its charter)
| Maryland | 1-14045 | 36-4219376 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
3 Bethesda Metro Center
Suite 1200
Bethesda, Maryland 20814
(Address of principal executive offices)
Registrant’s telephone number, including area code: (301) 941-1500
Not Applicable
(Former name or former address, if changed since last report)
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:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| ITEM 7.01. | REGULATION FD DISCLOSURE. |
On October 6, 2010, LaSalle Hotel Properties (the “Company”) issued a press release announcing that the Company’s acquisition of the leasehold interest in the Hotel Roger Williams. A copy of the press release is furnished as Exhibit 99.1 to this report.
| ITEM 8.01. | OTHER EVENTS. |
The Company acquired the leasehold interest in the Hotel Roger Williams for $90.0 million plus approximately $4.5 million of additional costs, of which approximately $0.5 million will be recognized as transaction expenses during the fourth quarter of 2010. The 193-room hotel is located at the corner of Madison Avenue and 31st Street in midtown New York City.
The Hotel Roger Williams is subject to a master lease that expires December 31, 2044. The $90.0 million purchase price includes the Company’s assumption of a $64.0 million loan secured by the hotel with a fixed annual interest rate of 6.31%. The Company funded the remainder of the purchase price with borrowings under its senior unsecured credit facility.
| ITEM 9.01. | FINANCIAL STATEMENTS AND EXHIBITS. |
(d) Exhibits.
Exhibit No. | Description | |
99.1 | Press release dated October 6, 2010 | |
The information contained in the press release attached as Exhibit 99.1 to this report shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Furthermore, the information contained in the press release attached as Exhibit 99.1 to this report shall not be deemed to be incorporated by reference in the filings of the registrant under the Securities Act of 1933.
SIGNATURES
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 hereunto duly authorized.
| LASALLE HOTEL PROPERTIES | ||||
| Dated: October 6, 2010 | By: | /s/ Michael D. Barnello | ||
| Michael D. Barnello | ||||
| Chief Executive Officer and President | ||||
EXHIBIT INDEX
Exhibit | Description | |
| 99.1 | Press release dated October 6, 2010 | |