Chatham lodging trust pays off mortgages with proceeds from term loan

West 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 that it has repaid in full three mortgages with outstanding principal of $73.3 million and a weighted average interest rate of 8.0 percent with proceeds from its newly issued term loan which currently carries an interest rate of 6.1 percent.
CLDT Ratings Summary
CLDT Quant Ranking