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Stock Market & Financial Investment News

News Breaks
January 31, 2013
16:22 EDTCHSPChesapeake Lodging reports Q4 preliminary adjusted FFO 41c, consensus 12c
Consensus for AFFO/share may not compare. Reports Q4 preliminary revenue $85.1M, consensus $82.39M. Reports Q4 preliminary pro forma RevPAR increase over 2011 of 5.5%.
News For CHSP From The Last 14 Days
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October 1, 2014
13:18 EDTCHSPChesapeake Lodging acquires JW Marriott San Francisco Union Square
Chesapeake Lodging Trust (CHSP) announced that it has closed on the previously announced acquisition of the JW Marriott San Francisco Union Square for a purchase price of $147.2M, or approximately $437,000 per key. The Trust assumed the existing management agreement with Marriott International (MAR), as well as the existing ground lease covering the property, which expires in 2083.
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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