-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, V8DZzM4rrZuzYbfN23IWk+geJexhIca9kH8T/QVIeV6S8ng0j3+9lE9RjsM4h3L6 fNThV0/JWZn9p54+8ljgxA== 0000950123-06-006122.txt : 20060511 0000950123-06-006122.hdr.sgml : 20060511 20060510181945 ACCESSION NUMBER: 0000950123-06-006122 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060507 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20060511 DATE AS OF CHANGE: 20060510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOYKIN LODGING CO CENTRAL INDEX KEY: 0001015859 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 341824586 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11975 FILM NUMBER: 06827739 BUSINESS ADDRESS: STREET 1: GUILDHALL BLDG 45 W PROSPECT AVE STREET 2: SUITE 1500 CITY: CLEVELAND STATE: OH ZIP: 44115 BUSINESS PHONE: 2164301200 MAIL ADDRESS: STREET 1: GUILDHALL BLDG 45 W PROSPECT AVE STREET 2: SUITE 1500 CITY: CLEVELAND STATE: OH ZIP: 44115 FORMER COMPANY: FORMER CONFORMED NAME: BOYKIN LODGING TRUST INC DATE OF NAME CHANGE: 19960604 8-K 1 l20256ae8vk.htm BOYKIN LODGING COMPANY 8-K Boykin Lodging Company 8-K
 

 
 
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): May 7, 2006
Boykin Lodging Company
(Exact Name of Registrant as Specified in its Charter)
         
Ohio   001-11975   34-1824586
(State or Other Jurisdiction
of Incorporation) 		  (Commission File Number)   (IRS Employer
Identification Number)
     
Guildhall Building, Suite 1500, 45 W. Prospect Avenue, Cleveland, Ohio   44115
(Address of Principal Executive Offices)   (Zip Code)
(216) 430-1200
(Registrant’s telephone number, including area code)
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 Instruction 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 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

SECTION 1 REGISTRANT’S BUSINESS AND OPERATIONS
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On May 7, 2006, Boykin Marco LLC (“Boykin Marco”), a wholly owned subsidiary of Boykin Hotel Properties, L.P., the operating partnership of Boykin Lodging Company, entered into a definitive agreement (the “Agreement”) to sell the Radisson Suite Beach Resort-Marco Island to Marriott Ownership Resorts, Inc., an unaffiliated party (the “Buyer”), for a purchase price of $58,000,000. The Agreement contains representations, warranties, indemnities and closing conditions that are customary for a transaction of this nature. The Agreement provides for a June 30, 2006 closing, which date may be extended at the option of Boykin Marco for up to 30 days.
At the time of execution of the Agreement, Buyer made a $3,000,000 deposit into an escrow account. The Agreement provides for a due diligence period ending May 12, 2006. The Agreement provides for Buyer to make an additional deposit of $3,000,000 into the escrow account no later than May 25, 2006. Each of the escrow deposits become non-refundable at the time of deposit, except in the event of Boykin Marco’s breach of the Agreement or upon failure of a closing condition, and constitute Boykin Marco’s sole liquidated damages in the event Buyer breaches its obligation to purchase the property.
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 hereunto duly authorized.
           
    Boykin Lodging Company
 
        
 
        
 
  By:   /s/ Shereen P. Jones
 
       
 
      Shereen P. Jones
Executive Vice President,
Chief Financial and Investment Officer
Dated: May 11, 2006

 

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