Chatham Lodging Trust has paid $195 million for five hotels. The acquisition includes the Residence Inn in Anaheim, the Residence Inn in Tysons Corner, Virginia and the Doubletree Guest Suites in Washington, DC.
The hotel REIT funded the purchase from $134.2 million mortgage loans as well as from available cash and borrowings under its senior secured loan. The five hotels will continue to be managed by Island Hospitality Management.
Click here for the release from Business Wire.