Chatham Lodging Trust (CLDT) Declares $0.08 Special Dividend; Sells Residence Inn by Marriott Torrance Stake
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Chatham Lodging Trust Announces Special Dividend on Sale of Joint Venture
January 4, 2016 6:50 AM ESTGenerates Sizable Internal Rate of Return for Chatham
PALM BEACH, Fla.--(BUSINESS WIRE)-- Chatham Lodging Trust (NYSE: CLDT), a hotel real estate investment trust (REIT) focused on investing in upscale extended-stay hotels and premium branded, select-service hotels, today announced a joint venture comprised of affiliates of Cerberus Capital Management LP and Chatham sold its interests in the Residence Inn by Marriott Torrance, Calif. Chatham realized a gain on the sale of approximately $3.6 million, subject to certain minor post-closing settlements. Following the transactions consummation, Chathams board of... More
