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Stock Market & Financial Investment News

News Breaks
June 12, 2014
14:55 EDTCHSP, CHSP, CHSP, JOSB, JOSB, JOSB, MW, MW, MWChesapeake Lodging to replace Jos. A. Bank in S&P 600 as of 6/20 close
News For CHSP;JOSB;MW From The Last 14 Days
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September 30, 2014
15:36 EDTCHSPChesapeake Lodging sells Courtyard Anaheim for $32.5M
Chesapeake Lodging Trust announced that it has closed on the previously announced sale of the Courtyard Anaheim at Disneyland Resort for a sale price of $32.5M, or $212,000 per key. “We are thrilled to have closed on the sale of this non-strategic asset,” commented James L. Francis, President and CEO of the Trust. “We purchased the Courtyard Anaheim in 2010 as a part of our acquisition of the Hilton Checkers in downtown Los Angeles. While the Courtyard Anaheim has been a very solid performer for the Trust, its non-core CBD location was not consistent with the high-quality portfolio that we have built over the past four years.” The Courtyard Anaheim at Disneyland Resort was one of the Trust’s earliest investments, purchased in July 2010 for $25M, or $163,000 per key. The $32.5M sale price represents a 7.1% trailing twelve month NOI cap rate and produces a 13.3% unleveraged internal rate of return for the Trust over its ownership period.

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