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| 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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