Deal Details
Follow-On Offering
Summary
Baird served as a book-running manager on this offering
About
Chesapeake Lodging Trust (“Chesapeake” or the “Company”) (NYSE: CHSP) recently completed a follow-on offering of 8,337,500 common shares at a price of $20.75 per share, generating gross proceeds of approximately $173.0 million. The Company intends to use the net proceeds from the offering to repay outstanding borrowings under the Company’s outstanding revolving credit facilityChesapeake is a self-advised REIT with a focus on investments primarily in upper upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the U.S. The Company owns 15 hotels with an aggregate of 4,722 rooms in seven states and the District of Columbia. Chesapeake is headquartered in Annapolis, Maryland.
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- Date
- February 2013
- Company
- Chesapeake Lodging Trust
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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