Thursday, September 18, 2014

Chatham Lodging Trust Announces Multiple Hotel Investments


Hyatt Place Denver/Cherry Creek Hotel, Denver, CO
PALM BEACH, FL,  Sept. 18, 2014—Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, today announced that it has acquired the recently re-opened 194-room Hyatt Place Denver/Cherry Creek for $32 million, or approximately $165,000 per room.

 In addition, the company has entered into a definitive agreement to acquire, through a joint venture with NorthStar Realty Finance (“NorthStar”, NYSE: NRF), a $1.1 billion hotel portfolio (the "Portfolio") from Inland American Real Estate Trust.

Concurrently, Chatham is negotiating with NorthStar to acquire 4 hotels comprising 575 rooms out of the Portfolio prior to or in connection with the closing of the Portfolio. The Portfolio transactions are expected to close in the fourth quarter of 2014.
  
For a complete copy of the company’s news release, please contact:

 Patrick Daly
Account Executive
 Daly Gray, Inc.
620 Herndon Parkway
Suite 115
Herndon, VA 20170
(703) 435-6293 (office)

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