Deal Details
Follow-on Offering
Summary
Baird served as a co-manager in this offering.
About
Chesapeake 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.
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- Date
- March 2011
- Company
- Chesapeake Lodging Trust
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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