Chesapeake Lodging Trust (NYSE: CHSP) announced today that it has closed on a $32.0 million fixed-rate mortgage loan. The loan is secured by the 188-room Hilton Checkers Los Angeles. The 10-year loan was provided by Goldman Sachs Mortgage Company and carries a fixed interest rate of 4.11% per annum, with principal and interest based on a 30-year amortization. Proceeds from the loan will be used to invest in future acquisitions of hotels and for general corporate purposes.
ABOUT CHESAPEAKE LODGING TRUST
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 15 hotels with an aggregate of 4,722 rooms in seven states and the District of Columbia. Additional information can be found on the Company’s website at www.chesapeakelodgingtrust.com.