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Chatham Lodging Trust announces sale of Four Hotels

Sales enhance portfolio quality, provide ample liquidity for growth.

WEST PALM BEACH, FLA. — Chatham Lodging Trust, a hotel real estate investment trust (REIT) focused on investing in upscale, extended-stay hotels and premium-branded, select-service hotels, 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 Inn by Marriott Houston West University
  • 137-room Homewood Suites by Hilton Dallas Market Center
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