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| Jeffrey H. Fisher |
PALM BEACH, FL — 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, announced it has acquired the 81-room Residence Inn Boston (Dedham), Mass.,
and is under contract to purchase the 105-room Residence Inn Fort Lauderdale Intracoastal/ Il Lugano.
The Fort Lauderdale
transaction is expected to close in late August, following customary due
diligence. Chatham is acquiring the two
hotels from the Claremont Companies for $55.5 million, or approximately
$298,000 per room.
“Our outlook on the
industry remains bullish, and we continue to find excellent opportunities to
add properties that match our strategy of acquiring premium-branded,
high-quality, in-fill hotels with high barriers to entry and growing demand in
two of the country’s strongest lodging markets,” said Jeffrey H. Fisher, Chatham’s chief executive officer and president.
“Peter Willis, our chief investment officer,
sourced these stellar acquisitions privately through his extensive network of
industry relationships.”
For a complete copy of the company’s news release,
please contact:
Patrick Daly
Account Supervisor
Daly Gray, Inc.
patrick@dalygray.com
Office: (703) 435-6293
Cell: (703) 300-8289
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