Chatham Lodging Trust (CLDT): debt financing — Chatham Lodging Trust subsidiaries close $39.9M in secured loans at 7.419% for two Austin hotels

Chatham Lodging Trust

Two indirect subsidiaries closed loans: $20.85M (Residence Inn Austin) and $19.075M (TownePlace Suites Austin).
Each loan bears interest at 7.419% per annum, interest-only for five years, then 30-year amortization.
Both loans mature in 2033 and are secured by first mortgage liens on the respective hotels and related assets.
Loan documents contain customary representations, warranties, and events of default for single-property mortgage financings.

item 2.03

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chatham Lodging Trust incurred loan of $20.85 million at 7.419 percent maturing matures in 2033.

Instrument: loan
Principal: $20.85 million
Rate: 7.419 percent
Maturity: matures in 2033
Event: incurrence

Exact text from the filing

On August 16, 2023, each of two (2) indirect, wholly owned subsidiaries of Chatham Lodging Trust (the "Company") closed on (1) a $20.85 million loan that is secured by the Residence Inn in Austin, TX and (2) a $19.075 million loan that is secured by the TownePlace Suites in Austin, TX, respectively.

View on SEC.gov

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chatham Lodging Trust incurred loan of $19.075 million at 7.419 percent maturing matures in 2033.

Instrument: loan
Principal: $19.075 million
Rate: 7.419 percent
Maturity: matures in 2033
Event: incurrence

Exact text from the filing

On August 16, 2023, each of two (2) indirect, wholly owned subsidiaries of Chatham Lodging Trust (the "Company") closed on (1) a $20.85 million loan that is secured by the Residence Inn in Austin, TX and (2) a $19.075 million loan that is secured by the TownePlace Suites in Austin, TX, respectively.

View on SEC.gov

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Chatham Lodging Trust filing history →

Source: SEC EDGAR

accession 0001476045-23-000059

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