Baird served as a co-manager in this offering.
AboutChesapeake Lodging Trust (NYSE: CHSP) (“Chesapeake” or the “Company”) recently completed a follow-on offering of 12,500,000 shares of its common stock at $17.75 per share, generating gross proceeds of approximately $221.9 million. Chesapeake intends to use the net proceeds from the offering to repay debt under its revolving credit facility, to make hotel investments and for general business purposes.
Chesapeake is a self-advised hotel investment company organized in June 2009. Chesapeake focuses on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service and extended-stay hotels in urban settings or unique locations in the United States. The Company owns five hotel properties with an aggregate of 1,629 rooms in two states.
For additional information about this transaction, please contact:
- March 2011
- Chesapeake Lodging Trust
- Real Estate
- Target Location
- North America