PEBBLEBROOK HOTEL TRUST (a Maryland Real Estate Investment Trust) 5,000,000 7.875% Series A Cumulative Redeemable Preferred Shares PURCHASE AGREEMENTPurchase Agreement • March 11th, 2011 • Pebblebrook Hotel Trust • Real estate investment trusts • New York
Pebblebrook Hotel Trust, a Maryland real estate investment trust (the “Company”), and Pebblebrook Hotel, L.P., a Delaware limited partnership and the operating partnership of the Company (in such capacity, the “Operating Partnership”), each confirms its agreement with Wells Fargo Securities, LLC (“Wells Fargo”), Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) and Raymond James & Associates, Inc. (“Raymond James”), and each of the other Underwriters named in Schedule A hereto (collectively, the “Underwriters,” which term shall also include any underwriter substituted as hereinafter provided in Section 10 hereof), for whom Wells Fargo, Merrill Lynch and Raymond James are acting as representatives (in such capacity, the “Representatives”), with respect to the sale by the Company and the purchase by the Underwriters, acting severally and not jointly, of the respective numbers of 7.875% Series A Cumulative Redeemable Preferred Shares (liquidation preference $25 per shar
