8-K
filed September 1, 2023, 7:59 PM ET
ticker CLDT
CIK 0001476045
debt
confidence high
sentiment positive
materiality 0.75
Chatham Lodging Trust (CLDT): debt financing — Chatham Lodging Trust issues ~$83M in fixed-rate debt, clears all 2024 maturities
Chatham Lodging Trust
- Five first mortgage loans totaling ~$83M: $24.5M at 7.608% (5yr) and $58.4M at 7.3-7.4% (10yr).
- Proceeds will repay $41M maturing mortgage on Residence Inn Bellevue in September.
- Remaining $42M plus $260M credit facility provide $302M to cover $300M in 2024 debt maturities.
- Only 14 of 39 hotels encumbered after Bellevue repayment; no debt due 2025 except one $19M loan.
- CEO says balance sheet flexibility allows refinancing, acquisitions or other investments.
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 $9.0 million with Wells Fargo Bank at 7.332 percent maturing in 2033.
- Instrument
- loan
- Principal
- $9.0 million
- Counterparty
- Wells Fargo Bank
- Rate
- 7.332 percent
- Maturity
- in 2033
- Event
- incurrence
Exact text from the filing
and (2) a $9.0 million loan that is secured by the Courtyard Summerville, SC, respectively. Each loan carries an interest rate of 7.332 percent, is interest-only and matures in 2033.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Chatham Lodging Trust incurred loan of $39.9 million with Barclays Capital Real Estate at 7.4 percent per annum maturing 10-year.
- Instrument
- loan
- Principal
- $39.9 million
- Counterparty
- Barclays Capital Real Estate
- Rate
- 7.4 percent per annum
- Maturity
- 10-year
- Event
- incurrence
Exact text from the filing
On August 16, 2023, two 10-year loans aggregating $39.9 million were provided by Barclays Capital Real Estate and are secured by the Residence Inn and TownePlace Suites Austin Northwest / The Domain. The loans carry a fixed interest rate of 7.4 percent per annum
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Chatham Lodging Trust incurred loan of $24.5 million with Wells Fargo Bank at 7.608 percent maturing in 2028.
- Instrument
- loan
- Principal
- $24.5 million
- Counterparty
- Wells Fargo Bank
- Rate
- 7.608 percent
- Maturity
- in 2028
- Event
- incurrence
Exact text from the filing
On August 30, 2023, an indirect, wholly owned subsidiary of Chatham Lodging Trust (the "Company") closed on a $24.5 million loan that is secured by the Courtyard Dallas (TX) Downtown hotel. The loan carries an interest rate of 7.608 percent, is interest-only and matures in 2028.
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Chatham Lodging Trust incurred loan of $9.5 million with Wells Fargo Bank at 7.332 percent maturing in 2033.
- Instrument
- loan
- Principal
- $9.5 million
- Counterparty
- Wells Fargo Bank
- Rate
- 7.332 percent
- Maturity
- in 2033
- Event
- incurrence
Exact text from the filing
On August 31, 2023, another two (2) indirect, wholly owned subsidiaries of the Company closed on (1) a $9.5 million loan that is secured by the Residence Inn in Summerville, SC
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.