Chatham Lodging Trust Announces the Closing Sales of Four Hotels
WEST PALM BEACH, Florida—Chatham Lodging Trust announced the closing of the sales of four hotels comprising 537 rooms for aggregate proceeds of approximately $80 million. Including near-term capital expenditure requirements, the aggregate sales proceeds would equate to an approximate 2 and 6 percent capitalization rate on net operating income for 2021 and 2019, respectively. The four hotels comprise the following: 180-room Hilton Garden Inn, Burlington, Massachusetts 100-room Courtyard by Marriott Houston West University 120-room Residence […]
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