  SGR~0501+4516 was discovered with the Swift satellite on 2008 August 22,
after it emitted a series of very energetic bursts. Since then, the source was
extensively monitored with Swift, the Rossi X-ray Timing Explorer (RXTE) and
observed with Chandra and XMM-Newton, providing a wealth of information about
its outburst behavior and burst induced changes of its persistent X-ray
emission. Here we report the most accurate location of SGR~0501+4516 (with an
accuracy of 0.11'') derived with Chandra. Using the combined RXTE, Swift/X-ray
Telescope, Chandra and XMM-Newton observations we construct a phase connected
timing solution with the longest time baseline (~240 days) to date for the
source. We find that the pulse profile of the source is energy dependent and
exhibits remarkable variations associated with the SGR~0501+4516 bursting
activity. We also find significant spectral evolution (hardening) of the source
persistent emission associated with bursts. Finally, we discuss the
consequences of the SGR~0501+4516 proximity to the supernova remnant, SNR
G160.9+2.6 (HB9).
