Maryland-based Pebblebrook Hotel Trust’s $89.5 million deal to purchase the W Boston hotel has been completed.

The 235-room, luxury, full-service hotel, which is located in Boston’s Theatre District, will continue to be managed by Starwood Hotels and Resorts, according to a statement.

"We are thrilled with the acquisition of the W Boston and the opportunity to further expand our growing portfolio into the dynamic Boston market," said Jon Bortz, chairman and CEO of Pebblebrook Hotel Trust. "As the hotel works towards stabilized operations after a strong inaugural 2010, we believe increased RevPAR penetration will occur as the property continues to push occupancy and rate as it benefits from improving fundamentals in the Boston market."

The W Hotel was recently in danger of possible foreclosure; in 2010 it filed for Chapter 11 bankruptcy, Banker & Tradesman previously reported. However, a U.S. Bankruptcy Court judge gave the green light in February for the continued sale and development of the property, effectively shutting down an effort by Prudential Insurance Co. to foreclose on its developer, SW Boston Hotel Venture LLC.