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FEB 19, 2013 - Washington Business Journal

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Chesapeake Lodging to buy more hotels with $32M loan

Chesapeake Lodging Trust has closed on a $32 million mortgage loan which the Annapolis real estate investment trust will use to acquire more hotels. The loan from Goldman Sachs Mortgage Co. is secured by the 188-room Hilton Checkers hotel in Los Angeles, which Chesapeake purchased in June 2010. Chesapeake (NYSE: CHSP) is paying 4.11 percent interest per year on the 10-year loan, the company said Tuesday. In addition to using the $32 million to purchase additional hotels, Chesapeake also plans to…

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