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News Breaks
February 1, 2013
08:48 EDTCHSPChesapeake Lodging Trust 6.25M share Spot Secondary priced at $20.75
The deal size was increased to 7.25M shares from 6.25M shares and priced between the $20.50-$21.00 range. JPMorgan, Deutsche Bank, Wells Fargo and RBC Capital acted as joint book running managers for the offering.
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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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